China Developer Sees No Trade War-Related Tension in US

Consul General Huang Ping (second from left), Yonkers Mayor Mike Spano and CCA President Ning Yuan at the ribbon-cutting ceremony for the River Club at Hudson Park. (Photo by Lan Mu via World Journal)

River Club at Hudson Park, a luxury residential complex built along the Hudson River in Yonkers, had a ribbon-cutting ceremony on May 15 for its third phase, which marked the completion of the project. Yuan Ning, chairman and president of China Construction America (CCA), the developer, said the local government provided great support to the project by offering tax benefits, and it also encouraged the Chinese state-owned conglomerate to keep investing in the area. And the developer felt no tension inflicted by the scorching trade war between China and the U.S. in Yonkers.

Huang Ping, the consul general of China in New York, said at the ceremony that Chinese companies in the U.S. contribute a lot in tax revenues for local governments and job creation. He cited the River Club as an example and noted that not only did the CCA invest a great amount of money, but also 98 percent of the workers involved in the project are from the area. “The success of the project is the best example in showing that both China and the U.S. can benefit from a smooth relationship between the two countries,” said Huang. “We hope the two countries resolve the trade conflicts soon, and we expect more opportunities to work together in the future.”

River Club at Hudson Park (Photo by Lan Mu via World Journal)

The luxury rental complex, located at 63 Wells Ave., covers 16 acres. The newly completed third phase offers 213 apartment units with amenities such as an indoor swimming pool, a gym and real-time traffic updates. The lounge on the top floor looks out over the Hudson River with the skyline and Manhattan glittering in the distance. The project was developed by Strategic Capital, the real estate investment and development arm of the CCA, and built by Plaza Construction, a CCA subsidiary.

Despite the looming trade war, Yuan said the project received strong support from the local government. Other than the tax benefits it offered, the local government also promised similar benefits for future developments the CCA may have in the area. “We see no shadow of the trade war in Yonkers,” said Yuan. “The local government made us feel that they welcome investors from around the world.”

Yuan said Manhattan used to be the major market of the CAA. But in recent years, the company has expanded its footprint to the surrounding areas. With its convenient transportation, beautiful landscapes and rents that are one-third lower than Manhattan, Yonkers attracted the attention of the company. Now with the completion of the River Club, more and more developers are considering investing here.

The CCA has more than 100 ongoing projects around the U.S., Yuan said. Beyond New York, the company is also building in Boston, Washington D.C., and Miami on the East Coast, as well as in Houston, Los Angeles and San Francisco.

Mike Spano, mayor of Yonkers, said that the CCA’s investment in the River Club is a symbol of the revitalization of the city. The project not only has created a high quality and convenient living environment for the residents, it also helps the city push forward in its goal of turning itself into a hub for living, working and recreation.

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