One of China's premier green home builders, Landsea Group Co. Ltd., announced its plan to invest $1 billion in the U.S. housing market in the coming years.
Chinese home building company Landsea Group Co. Ltd. has announced in a press release that it will invest more than $1 billion in the U.S. housing market over the next several years, beginning with residential developments in three of the country’s largest housing markets—New York, Los Angeles and San Francisco.
After multiple green development projects in Asia as well as establishing a Research and Development Office in Frankfurt am Main, Germany, the company is ready to tackle the U.S. housing market.
“This visit marks the advent of Landsea as an American homebuilder,” the company’s founder and chairman Tian Ming said in a press release. “We have already established our presence in Asia and Europe, but there is no better housing market than the United States, where homeownership will always be a part of the American Dream and a cornerstone of economic prosperity.”
The company has already finished the design and planning steps of their U.S. projects, which are posted on their website.
Information from the company:
To highlight the company's entry into the U.S., Landsea Founder and Chairman Tian Ming is touring the company's building sites and will conclude his visit with a formal celebration on Sept. 4 at the historic Biltmore Hotel in Los Angeles, near the company's U.S. headquarters.
The chairman's U.S. tour begins Aug. 25 in Weehawken, N.J., where Landsea plans to develop a mid-rise 200-unit luxury condominium complex overlooking the New York City skyline. On Sept. 1 and 2, Mr. Tian will be in Dublin, Calif., about 35 miles east of San Francisco, to see earthmovers preparing the ground for a 109-unit townhome development to be known as Kingswood by Landsea Homes. That project will open for sale in early 2015. He will then head to Southern California on Sept. 3 and 4 to visit Simi Valley, north of Los Angeles, where the company will introduce three new developments—two single family home projects and an active-adult building, which are currently under construction.
Chairman Tian will be accompanied by John Ho, managing director of Landsea Holdings Corp., the privately held subsidiary created to oversee and manage the U.S. projects. To ensure the company's success, Mr. Ho has personally selected a senior management team that is well known and highly respected throughout the local home building industry.
Landsea Holdings Corp. will be in charge of the design and development of the homes, which will be built by local companies using domestic materials. It will cater to American tastes, comfort and satisfaction. Landsea earned a 95-percent satisfaction rating in a recent Gallup survey of its Chinese home buyers.
Landsea Chairman Tian said the three developments is the first phase of its more than $1 billion in home construction by Landsea in America. In addition to the New York, San Francisco and Los Angeles areas, the company also plans projects for Boston and Washington, D.C.
Landsea, which was founded in 2001, quickly became one of China's premiere "green" home builders, constructing residences with systems for rainwater retention and passive geothermal heating and cooling. The company is also a founding member of China Green Building Council, and a member of the German Sustainable Building Council and the US Green Building Council.
Landsea's U.S. debut represents another milestone in the rapid growth of Landsea Group, which now has developments and research facilities in more than 40 locations throughout China and Europe. In 2001, the company started with an initial investment of $1.5 million, and now posts revenues close to $2 billion annually.