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Chris Jiashu Xu

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This is an old revision of this page, as edited by Zanhe (talk | contribs) at 23:31, 25 August 2019 (add People's Daily source). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

  • Comment: Of all the sources I could evaluate (the Wall Street Journal is behind a paywall), only two discuss Xu in any length. We need five easily accessed sources, give or take two, to approve a draft.  I dream of horses (My talk page) (My edits) @ 08:36, 2 May 2019 (UTC)

Template:Chinese name

Chris Jiashu Xu
Born
Xu Jiashu

1967
Yangzhou, China
Occupation(s)Founding Partner, United Construction & Development Group.
Chinese name
Traditional Chinese徐家樹
Simplified Chinese徐家树
Transcriptions
Standard Mandarin
Hanyu PinyinXú Jiāshù

Chris Jiashu Xu (Chinese: 徐家树; born in 1967) is a Chinese-American real estate developer. He is the founder and president of United Construction & Development Group, through which he is currently developing the tallest skyscraper in Queens, New York.[1]

Early life

Xu Jiashu was born in Yangzhou, China in 1967, and immigrated to the United States together with his family at the age of 18.[2][3]

Career

While seeking opportunities for employment as a young adult, Xu encountered difficulties as a new immigrant and thus decided to go into business. He initially banded together with several high school classmates to perform housing-related work, and subsequently went on to become the owner of a plumbing and heating distributor in Queens, New York by age 24.[4]

After purchasing the real estate upon which his plumbing business was located, Xu was motivated to explore opportunities in real estate, and formally entered the business in 1996, bringing on board his younger brother, George Xu, in 1999.[5][6][4] In the years that followed, the Xu brothers went on to develop, operate, and manage more than two million square feet of commercial, residential, industrial and retail space.[4] In the 2000s, Xu served as President of the New York Chinese Chamber of Commerce.[7]

The brothers, who initially built together under the moniker C&G Empire Realty, split in 2014 over differences in real estate development philosophy, and George Xu founded Century Development Group, deciding to focus on one project at a time, while Chris' desired to juggle multiple development projects at United Construction & Development Group.[5] They continue to work together on various projects, and have maintained a similar focus on luxury condominiums and hotels in areas such as the Chinese immigrant enclave of Flushing, Queens, where both Chris and George have worked on similar projects, such as dueling 210-room hotels.[5][8]

Besides the United States, Chris Xu has partnered with firms in Hong Kong, Taiwan, and Mainland China to fund and develop his properties.[9][10][11]

Court Square City View Tower

Xu is currently building the largest skyscraper in Queens, New York, with his Court Square City View Tower project, which, as one of the tallest buildings in New York City that is still undergoing construction, will eventually become a key fixture of the Long Island City skyline.[1] The development site, containing approximately 780,000 buildable square feet, was purchased in 2015 from Citigroup, and subsequently refinanced with a $100 million loan from Bank of China in 2016.[11][12]

By mid-2018, the project, also known as Skyline Tower, had secured over half a billion dollars from lenders, which by that time had included JP Morgan Chase and a consortium of other banks. Construction on the site began in 2017 and it is projected to go on the market in in 2021, with condominiums priced from $500,000 to $4 million.[13]

References

  1. ^ a b Morris, Keiko (8 July 2018). "Soaring Condo Project Coming to Long Island City". The Wall Street Journal. Retrieved 1 May 2019.
  2. ^ "Chris Xu and United Construction". New Land Capital. Retrieved 6 June 2019.
  3. ^ "George Xu" (PDF). 華僑社會福利社 Immigrant Social Services, Inc. Retrieved 2 May 2019.
  4. ^ a b c "History of United Construction & Development Group". Retrieved 1 May 2019.
  5. ^ a b c Small, Eddie (7 June 2017). "By George, he's got it!". The Real Deal. Retrieved 2 May 2019.
  6. ^ Allen, Michael (5 April 2018). "Facts Sheet: United Construction & Development Group / Grand Construction & Development". Build Up NYC. Retrieved 2 May 2019.
  7. ^ Shen Xinggeng 沈兴耕 (2009-06-30). "殷殷同胞故土情". People's Daily. Retrieved 2019-08-25. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  8. ^ Parker, Will (1 October 2015). "Flushing in flux". The Real Deal. Retrieved 2 May 2019.
  9. ^ "Chris Xu's newest project gets half a billion dollars in loans". QueensBeans. 10 July 2018. Retrieved 2 May 2019.
  10. ^ Small, Eddie (2 January 2018). "Chris Xu lands financing from Taiwanese bank for Queens condo project". The Real Deal. Retrieved 2 May 2019.
  11. ^ a b Claire, Moses (8 July 2015). "Citigroup sells LIC site to Queens developer for $143M". The Real Deal. Retrieved 1 May 2019.
  12. ^ Putzier, Konrad (1 September 2016). "Flushing developer refis LIC skyscraper project with $100M from Bank of China". The Real Deal. Retrieved 1 May 2019.
  13. ^ Slowey, Kim (10 July 2018). "$500M loan granted for tallest tower in Queens, New York". Construction Dive. Retrieved 1 May 2019.
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