America Modern Green grows at fast pace, works with local developer

By May Zhou in Houston | China Daily | Updated: 2016-05-13 12:13

In the past year, America Modern Green (AMG), a land development company that is the US subsidiary of Modern Land China Co Ltd, has been growing its business in the US, especially in Texas, at a fast pace.

Working with local developer Sueba in Houston, AMG has formed a new partnership. Sueba & AMG Development LLC, to combine AMG's ability to raise capital and Sueba's more than 30 years' experience of developing various types of properties. AMG's Beijing-based parent company is on the Hong Kong stock market.

Under the agreement, AMG will invest roughly $50 million in Sueba's three apartment-development projects in Bay Brook, Katy and Conroe, for about 1,000 units.

Sueba will invest 20 percent of capital in AMG's Ivy District, and the partnership will also serve as the property management team for Ivy District.

The infrastructure construction for its Ivy District project, a planned multi-use community on 48 acres south of the Texas Medical Center, is well underway and is expected to be completed by the end of this year. Phase I construction will start next year to build a retirement community, an apartment complex and a group of townhomes.

When completed, the Ivy District will include a 150-room hotel with a big conference center, office space, retail stores and residential units.

In Seattle, AMG partnered with Presbyterian Retirement Communities Northwest to develop a $900 million non-profit condo project serving senior citizens. AMG's primary purpose is to develop a successful model for the retired population and replicate it in China.

In addition, AMG opened a branch office in Dallas and has acquired 30 acres of land to develop a 180-unit single family dwelling project exclusively serving Chinese investors. Working with local developer Bridge Tower, the construction has started and is expected to be completed by the end of 2016.

Partially funded through AMG's EB-5 program, the houses will be sold exclusively to Chinese investors. AMG will rent and manage the properties for clients who will have the option to do as they see fit with the property five years later.

Recently, AMG established the non-profit America Modern Green Education Foundation to provide one-stop service to Chinese investors in immigration, housing, education and business.

"We found that Chinese real estate investors have a strong demand not only for property purchase, but also for business investment opportunities, education for their children, service for immigration, legal and tax, and we are integrating our service based on that demand," said Qiao Tingfu, CEO of AMG and vice-president of Modern Land China.

"Buying property in the US is just one transaction. It's like the first knock on the door. Once the door is open, they need much more," said Qiao.

AMG is putting its services into a package called Family Wealth Plan, by which Chinese investors can integrate their property investment and immigration together through AMG's financing tool EB-5 program. Combined with an education foundation platform, clients can also get help in finding quality education for their children and receive advice on handling related legal and tax issues.

For newcomers, AMG has developed an integration plan to help them adapt to their new life in the US. Services cover a wide range of basic needs, including housing, finding a doctor, getting a driver's license and purchasing insurance.

To help Chinese clients understand the US education system, AMG periodically takes American teachers to China to hold simulation classes. It also takes admission officers to talk to children and their parents. For those who want a closer look, AMG offers summer camps in Texas. It has organized a team of US education experts to make individual education plans from high school to college.

AMG also intends to help clients find the right business-investment projects by introducing them to the right circles such as Great Houston Partnership, Asian Chamber of Commerce and potential business partners.

"We want to help them to successfully start up in the US or transfer their business here," said Qiao, adding that such demand is high.

Over the past year, AMG has guided scores of high-net-worth individuals from China to tour Texas so that they could look first-hand at the many opportunities and the living environment. The tour helps them to see how it's like to live, work and study here.

AMG conducts business in different cities across the US and Canada, however, Texas is its primary focus.

"In my view, Texas is the best place for the Chinese investors and it has great potential. With Texas-sized land and robust economy, it is much easier to gain a foothold here than in, say, New York or California," said Qiao, who has developed an affinity for the Texas cowboy culture.

mayzhou@chinadailyusa.com