Diana Olick | Wednesday, 3 Sep 2014 | 10:34 AM ET
Landsea, which bills itself as China’s “pre-eminent green builder,” is investing $1 billion in the U.S. housing market, beginning with three new developments. It will build condominiums in the New York City market, townhomes in San Francisco and single-family homes in the Los Angeles area.
“Our primary customer is still here domestically in the U.S., but because of our background and who we are and our brand in China, we will get Chinese customers who will want to buy our homes,” said Tian, standing on an empty parking lot in Weehawken, New Jersey.
Two hundred condominium units are planned for the site, which boasts spectacular views of the Manhattan skyline. Landsea purchased the property from U.S. home builder Lennar, which will design and build the project in much the same fashion as its own new condo building, which neighbors the property.