LOS ANGELES—The prospering US housing market has attracted Chinese investor Landsea Group. In an earlier story, GlobeSt.com reported that the homebuilder is making its foray into the US with a $1 billion investment, which will be spent on development projects over the next several years. The firm plans to focus on coastal markets, with three projects already underway in San Francisco, the New York metropolitan area and Los Angeles.

“One of the reasons we selected the US housing market is because in China, the housing market growth is slow and it is a very highly competitive market,” Tian Ming, founder and chairman of the Landsea Group, tells GlobeSt.com. “We saw an opportunity to invest in a healthy and expanding housing market where we see a lot of growth potential, and we wanted to enter the US market and establish ourselves.”

Landsea, whose US headquarters is in Downtown Los Angeles, plans to develop all for-sale properties, both condominium multifamily-style properties and single-family homes. In China, the developer is known for being a premier green homebuilder with a commitment to sustainability. According to Ming, this is a theme it will carry over into its US developments. “We will continue to explore sustainable building techniques to offer our customers healthy environments and sustainable and comfortable homes,” he says. 

Although the company is focusing on coastal markets nationally, on the West Coast, it has its eye on California. One reason, according to Ming, is because California has a robust demand for housing and a growing economy, which makes it an attractive investment opportunity; however, Landsea also sees California, and Los Angeles specifically, as a gateway market between China and the rest of the US. “Because of its connectivity to China, in terms of transportation, and its connectivity to the rest of the US, it is an ideal market [for us],” Ming explains.

Landsea currently has three projects underway and is aggressively seeking new investment opportunities throughout the country. It is currently funding most of these opportunities through corporate debt and Chinese or other Asian banks with domestic ties; however, Landsea would like to have more involvement with US domestic banks for future financing needs.