Former Greenland USA CEO Ifei Chang to stay in US real estate
After surprise resignation, exec ready to move on to next “urban renewal” project
November 11, 2015 06:00PMBy Konrad Putzier and Rich Bockmann
From left: Ifei Chang and a rendering of Pacific Park’s 615 Dean Street (credit: Kohn Pedersen Fox)
From the New York website: Ifei Chang may have stepped away from the helm of Greenland USA and its massive Pacific Park development in Brooklyn, but she isn’t ready to turn her back on U.S. real estate.
In a phone interview following her resignation, Chang told The Real Deal that she plans to continue her real estate career in the U.S., with a focus on bringing together U.S. and Chinese investors.
“I hope to find more meaningful, visionary projects,” she said, adding that she is interested in urban renewal projects. “There are so many livable cities that should be introduced to Chinese investors.”
Chang became CEO of Greenland USA, the local subsidiary of Chinese development giant Greenland Holdings, in 2013. During her tenure, Greenland bought a majority stake in Forest City Ratner’s Atlantic Yards project, now known as Pacific Park, and began development of a $1 billion mixed-use complex in Los Angeles.
According to a source familiar with the company, Chang spent much of her time commuting between China and Los Angeles and rarely came to New York. Her replacement, Greenland USA’s current executive vice president Gang Hu, lives in Brooklyn, according to a source.
Chang stepped down from her post in a surprise announcement last week. She told TRD the decision to leave Greenland was hers, and she felt she was ready for a new challenge now that the firm’s first major U.S. projects are moving forward.
“Just like every student has a graduation day, it’s time to step down and deliver the projects to the next executive,” she said.
Source: The Real Deal