The Hailey - First Commercial Apartment Developed by Vietnamese Investor in U.S.

9:06:17 AM | 30/7/2020

The Hailey (known as: HQC Tacoma) is the first overseas project invested and developed by Hoang Quan Group. This is an apartment complex for long-term lease, the first Vietnamese large-scale commercial housing project in the United States.

Hoang Quan Education Investment Company Limited - USA (HQC USA LLC), a member of Hoang Quan Group (HoSE: HQC), held the commencement ceremony of The Hailey project on October 20 and October 25, 2017. The groundbreaking ceremony received the attendance of leaders of the Vietnam National Real Estate Association, Delegates from Vietnamese provinces and businesses, Delegates from Tacoma City Government.

Located at 1210 Tacoma Avenue South, Tacoma City, Washington State, the United States, HQC Tacoma is considered a highlight in the heart of Tacoma City. With its prime location, The Hailey’s residents can easily reach surrounding facilities, such as colleges, universities, elementary schools, secondary schools, libraries, stadiums, commercial centers, airports, trams, clinics, Pierce County Court, Pierce County Administrative Office, and Tacoma Public Schools.

In addition, benefitting from a complete synchronized transportation infrastructure, The Hailey’s dwellers can conveniently and quickly move to other cities and states such as Seattle and Washington.

The seven-story building has one commercial story and six stories with 186 commercial apartments. It has two parking basement floors with capacity of 214 spots.

The Hailey has complete internal and external utilities and facilities so that all residents and tenants can enjoy best living values. The apartments for rent are different in area, ranging from 41.8-95.2 square meters/unit with 1-2 bedrooms, smart and modern design ensures comfort and ventilation. In particular, the commercial floor is ideal for customers wishing to rent for business, and serve residents in the project and surrounding areas.

With care and support in various aspects from the City government, especially the housing support policy, The Hailey project can serve a rising housing demand in Tacoma.

In April 2016, a Tacoma City’s delegation visited Vietnam and worked with the Government Office, the Ministry of Construction, the Ministry of Planning and Investment, the State Securities Commission, and Vietnam National Real Estate Association and Hoang Quan Group. At their working visits, the two sides had frank and open discussions about policies, tax incentives, and investment environment in Tacoma City, as well as desires for overseas investment opportunities of Vietnam real estate businesses.

Recognizing the investor capacity and the development potential of The Hailey project, Tacoma Mayor Marilyn Strickland said, The Hailey will be a prominent part of the city. “The development of this project - our third foreign direct investment project this year - will turn an unused parking lot into a thriving community” and “The Hailey is being fully invested by the developer and it will be a catalyst for further growth and investment in the downtown,” she said in an interview about the project in Tacoma.

The Hailey costs US$40 million for construction (nearly VND900 billion). The Hailey covers a land area of ​​3,019 square meters (32,500 square feet). The commercial floor is 20,438.5 square meters (220,000 square feet).

The Hailey of Hoang Quan Group is an important pioneering step of offshore investment for Vietnamese real estate businesses, especially in the commercial segment. The Hailey is expected to be put into use by June 2021.

Hoang Quan Group, the investor of 46 projects with a total investment of more than VND39 trillion, including 22 social housing projects with a total investment of nearly VND22 trillion, is a leading corporation of the social housing segment in Vietnam. In 2020, the group has stepped into high-tech agriculture and developed high-class commercial projects in Ho Chi Minh City and southern provinces.

The Hailey is a typical partnership between Vietnam and the United States. The project is a first demonstration of the two-way capital flow between Vietnam and the U.S., the leading partner of the former. In 2020-2030, with the desire to reach the international level, Hoang Quan Group aims to deploy and develop more projects in the U.S. to steadily consolidate its foundation and reach the higher level of “Creativity - Innovation - Efficiency.”

Source: Vietnam Business Forum