On Feb. 4th, A Chinese Organization of New England organized a big banquet with 1000 people to Celebrate the 2012 Spring Festival. Many government officials, including Mayor of Boston, Tom Menino、Congressman Michael Capuano、Stephen Grossman、Elizabeth Warren、Aaron Michlewitz、Bill Linehan、Donald Wong、Senator Anthony Petruccelli、Senator Sonia Chang Diaz、Transportation Minister Richard Davey, joined the banquet and gave their best wishes to China and the Chinese people who live in the New England area. Many Chen family members, including President Frank Chen and Ziyuan Chen gave short speeches. Other successful business people including the President of PattyC Property Group, Patty Chen, were also invited to join the banquet to celebrate the Spring Festival. At the party, Mayor of Boston, Thomas Menino, had a conversation with Patty Chen, and he is very interested, and supportive of our company bringing Chinese investors to Boston for real estate investments.
Recently, the president Patty Chen had joined three conversations meeting about the EB-5 Immigrant Investor Program with the Director of USCIS, Alejandro Mayorkas, who has done an excellent job of highlighting the importance of the EB-5 visa program in a fast pace, and senior members of the USCIS leadership team. These conversations demonstrated USCIS had made important progress to EB-5 Immigrant Investor Program. It lets USCIS hear more voices from investors and make improvements, also lets our company, as a investor representative, have a chance to state the concerns to USCIS directly.
The first conversation was in the middle of September, 2011, focusing on economic development in the context of the EB-5 (Immigrant Investor) program. They also think this kind of small group discussion complemented the existing quarterly EB-5 engagement program. The following day, Patty had another conversation with them, also a more in-depth discussion, about discrete policy issues related to the EB-5 program. At the last conversation, President Patty asked Alejandro why USCIS decided to accelerate the approving projects to 15 days in Regional centers, and what the influence will be to the existing processing time to EB-5 visa applicants, in particular the time of I-526 petitions. All these questions will have direct impact to the EB-5 investors, either from business decision aspect or from investing aspect.
USCIS Director Alejandro Mayorkas mentioned USCIS has engaged with internal and external stakeholders to learn of their concerns regarding current adjudication policies and practices. USCIS also seeks stakeholder input on these foundational issues before providing greater detail and addressing additional issues. This draft memorandum is a work in progress, and it is shared now to obtain valuable real-time input and to define a collaborative approach with the stakeholder community. The draft memorandum is not operative and will not guide adjudication decisions until it is published in complete and final form. Current policy memoranda continue to guide our adjudications.In response to the stakeholders input, USCIS had announced the adjudication process reforms, including:
The introduction of direct e-mail contact between the Regional Center petitioners and the USCIS adjudication team. This reform already has been instituted;
The introduction of accelerated process and premium processing for certain applicants and petitions;
The use of an expert Decision Board to assist adjudicators in rendering final adjudications on Regional Center petitions;
Hired economists with business analysis expertise to help guide and support the USCIS adjudication team;
Hired a consulting firm to help further reengineer the EB-5 adjudication process to deliver greater efficiencies.
On March 29th, Patty Chen had been invited to Northeastern University, On Oct 12th, Patty Chen was also invited to give a presentation by Boston College Chinese Students and Scholars Association. After a brief introduction by the CSSA host, Patty talked about her life and career in the US. The first topic was about how students stay temporarily or permanently in the USA in terms of visas and jobs. Patty also talked about how students are involved deeply in the USA society in terms of language and culture. In the end, Patty spoke about credit card use, car use and real estate purchasing and investments in US. The students were very satisfied with all the questions that had been answered. Patty had also given some gifts to the students. The speech ended with a warm applause.
2) Patty Chen with John E. Drew, President of The Drew Company
Sept. 27th, at the NOIAP’s meeting-Windows on the Waterfront, which was about real estate projects in the new “Innovation District” in Boston’s Seaport District, our company’s President, Patty Chen introduced the Investment Program to Boston’s real estate developers of the “Innovation District”. David Manfredi, a founder of Elkus Manfredi Architects, described the “promise” of this new district as: a vibrant, new mixed use neighborhood; a neighborhood driven by innovation; a place to live, work, play, shop, dine, learn and visit. At the event, Mayor Menino wanted, and now sees forming, a 24-hour, mixed use area that will attract both families and entrepreneurs. Seaport Place is a developed building with 1 million sq. ft. of office space and a full service hotel, another 600,000 sq. ft. came along with Manulife’s headquarters, and after a few years of waiting, Joe Fallon built the first office building on Fan Pier, a speculative 526,000 sq. ft. tower at One Marina Park Drive.
3) Boston’s Developers At NAIOP meeting. L: John E. Drew, President of The Drew Company; Stephen Karp, chairman of New England Development; John P. Fowler, Director of HFF; David Manfredi, Partner of Elkus Manfredi Architects Ltd; Charles D. Reid, Vice President of Boston Global Investors, LLC; Edward G. Nardi, President of Cresset Group
Boston Hub developers going with apartments
波士顿海港开发商与开发公寓
A top Bay State developer said he’s not convinced that new condos will ever be built again in downtown Boston, especially since everyone is switching over to apartment towers in the wake of the luxury real estate market collapse.
“I assumed our 21-story residential building would be condominiums,” said Stephen Karp, chairman of New England Development, who expects to break ground on the Northern Avenue project at Pier 4 next spring. “But that market has changed so much over the past few years … we don’t think it will come back for a long time, and we don’t know if it will ever come back.”
Karp — who made his remarks to a packed meeting of the commercial real estate group NAIOP at the Renaissance Hotel yesterday — joined a panel of Seaport developers cheering the successes of Boston’s rejuvenated waterfront with a host of new restaurants and offices. But the enthusiasm was tempered with the realization that waterfront condos will have to wait.
Charles Reid, executive vice president of Boston Global Investors, the Boston-based group that expects to start construction next year on Seaport Square, a 6.5 million-square-foot, mixed-use development including residences, offices and retail shops, said the market is not ready for new condominiums. “The biggest four-letter word — beside bank — is condo,” Reid told the Herald. “No lender will finance condominiums right now. Our first phase will be 1,100 apartments.”
Developers say the glut of luxury units and sluggish sales have kept lenders at bay. Three major luxury projects in the downtown have struggled to sell out their buildings. The W Hotel & Residences on Stuart Street has sold just 46 of 123 units, the nearby Clarendon, closed on 66 of 107 units while 45 Province in Downtown Crossing has 44 of 150 units sold, according to the Warren Group.
John Drew, president of the Drew Co., who is planning a 2012 ground-breaking for Waterside Place — which includes a supermarket and 236 residential units across from the Boston Convention & Exhibition Center — said he switched the project from condos to apartments due to market changes.
But Drew said condos could be a part of future development. “Right now, there’s no interest by lenders in projects with hundreds of condos,” he said. “But the markets run in cycles and at some point, they will be back in favor.”
On September 2nd, 2011 Patty, Sally (advisor), Steve (advisor), and Kenneth of the PattyC Property Group met with the Boston Redevelopment Authority’s (BRA) Director Peter Meade and his Chief of Staff, James Tierney at Boston City Hall. Patty Chen introduced the company PattyC Property Group and explained the investment projects and how we could help in future developments. Mr. Meade mentioned some projects that we could work together with including the redevelopments of South Boston.
from R: Nader T. Dean of MIT; Doreve N. owner of Nicholaef Architecture firm; Patty Chen,president PattyC Property; property developer ; Lorne McDougall, Lawyer of EAPD LLP从右 :麻省理工学院建筑设计院主任纳德据特哈尼（Nader Tehrani); 尼克拉夫建设计公司的 老板 一夫尼克拉夫（Doreve Nicholaeff）; 总裁陈艺平, 公司开发商; 律师事务所的合伙人洛恩麦克杜格尔
(Jia Hu edited 胡佳稿)
On August 24th, 2011 at the headquarters office of the PattyC Property Group, the president Patty Chen had a meeting with the developer of the Ohio Property; Dean of the Department of Architectural Design at Dean of MIT, Nader Tehrani; owner of Nicholaeff Architecture Firm, Doreve Nicholaeff, and partner of law firm Edwards Angell Palmer & Dodge LLP, Lorne McDougall. They all provided design and building ideas for the future development of the Lake front property.
PattyC Property Group visited the site of their possible investment project. This is intended to be a 4 season mixed use resort community located in Ohio by a Lake.
AABT-Boston brought Chinese students to Tufts University for the English Program stretching from July 17th to August 13th. The students were very happy and learned a lot from this one month program which included activities such as visiting Boston’s famous attractions (The Freedom Trail, JFK Library and Museum, the Museum of Science, New England Aquarium, and Fenway Park) and allowing them to travel to America’s finest cities including New York City, Philadelphia, and Washington D.C. Some student’s parents also came to Boston to go sightseeing with them.
On Saturday 5-22-2011, in the headquarters office building of PattyC Property Group in Wellesley, MA , PattyC Property Group celebrated the 10th anniversary of PattyC Property Group with over 50 attendees. The guests mostly came from the greater Boston area, as well as 16 representatives of Chinese students from 10 universities. During the party, the other subsidiary divisions of PattyC Property Group in New York and in Chicago also sent a warm congratulatory letter and speech .
星期六 (5-22-2011)，多家公司受邀來到位於Wellesley of MA 派蒂克房地产集团 (PattyC Property Group) 总部办公室，參加了派蒂克房地产集团 (PattyC Property Group) 成立十週年的慶祝活動。 50幾位來賓來自波士頓各行各業，还有来自10所大學的16位中國學生聯誼會代表前來祝賀！我們的貴賓還有欧美同学会副会长王辉耀和夫人苗绿。派蒂克房地 产集团的另外两家子公司美亞商旅集團-纽约和美亞商旅集團-芝加哥也在庆祝会上送来了热情洋溢的祝贺词.
From February 9th, 2011for two weeks, the Chinese Entrepreneurs visit Harvard University and the United States, an unprecedented event coordinated by the Huatuo CEO Forum lead by Mr. Yan Jiehe bringing over 150 Chinese Entrepreneurs with an estimated economic power of more than 50 billion RMB. PattyC Property Group have partially organized the trip since 13 months ago.
Arriving first in New York City for a talk with President Bill Clinton followed by a performance by Peter Buffet, they stopped briefly at West Point and then on to a two day conference at Harvard University involving some of the top minds in economic and business theory from China and America. Following this conference, they traveled to Las Vegas and on to California, where they are organizing information sessions and meetings to learn more about investment opportunities in America.
The Huatuo CEO Forum have been successfully held on Sat. & Sun., Feb.12-13, 2011 at Harvard Kennedy School. All the Guest speakers were top-notch well respected professionals. They are ranging from Nobel Prize recipiant, Real Estate Developers, Financial Professionals, Successful entrepreneurs and Bankers. Topics were both educational and informative. The leader of the 150 Chinese Entrepreneurs, Mr. Yan Jiehe’s speeches were very powerful, passionate and motivational. The 150 Chinese Entrepreneurs were impressed on how well the event ran and were very appreciative of the opportunities presented in the Forum. Mr. Yan hinted, that an event run as well as this one, can quite possible achievable to bring in 500 more Chinese Entrepreneurs for next year!
We are also very happy with the event. Many Chinese Entrepreneurs express strong interest in real estate investment in the USA. Many of them also first learned and are excited about the Real Estate EB-5 Investment opportunity and Youth Summer School programs. PattyC Property Group has also invited and networked with some very good Real Estate investment partners for the event, such as Mr.Harold Brown, president of the Hamilton Company. Hamilton Company is one of the largest Real Estate Develop company in New England; Mr.David Lindahl(The Lindahl Group), a famous real estate investor and educator, and Mr. Ori Ron (Hudson Group ), a famous Boston local real estate developer specialized in urban real estate development.
It will be an exciting year for the PattyC Property Group. Many business opportunities are around. Our programs are very well covered for all of our clients’ needs. www.pattycproperty.com email: Office@pattycproperty.com
The AmericAsia Investment Association (The AAIA) had a first Executive Board meeting after it was formal established on Sep. 8th, 2010. In the meeting, we clearly defined the mission, clients, and structure of the AAIA (www.aa-ia.org). After the meeting, the part of board directors participated in the Merrill Lynch finance group dinner at the well-known Blue Ginger restaurant with the owner Ming Tsai in Wellesley. The AAIA provides a platform for making investment deals between America and Asia. Any company and organization can use this platform to do business deal. The AAIA governing bodies are the Executive Board and Advisory Board. The founder of PattyC Property Group Patty Chen is a president for The AAIA; the regional vice president of NAI Global Real Estate Company John is a real estate executive director; the president of Education Without Borders Company Swallow is a education executive director. The more leaders will be announced in near future. Real Estate Executive Director John will represent the AAIA to China in February 2011meeting with the Executive Board members of China for same real estate business deals.
这是在美国亚洲投资协会于2010年 9月8日正式成立后的第一次美国亚洲投资协会董事会会议．会议明确了协会的使命, 服务对象, 和机构组成 (www.aa-ia.org)． 会后，美国亚洲投资协会部分董事会参会人员在韦尔斯利最著名的餐馆－BluE Ginger Restaurant 与餐馆老板Ming Tsai 和Merrill Lynch finance group 共进晚餐． 美国亚洲投资协会为美国与亚洲之间提供一个投资交易平台．任何公司和机构都可以在此平台上做美国与亚洲之间投资生意．美国亚洲投资协会领导机构由执行董事 会和顾问董事会组成．派蒂克房地产投资集团总裁陈艺平女士 （Patty Chen）任会长; NAI Global 诺屋德集团地区付总裁约翰(John)任房地产执行董事, 美国无国界教育主席晓哲先生（Swallow ）任教育执行董事. 今后会宣布更多的协会领导成员． 房地产执行董事约翰将代表美国亚洲投资协会，明年2月去中国会见协会中的中方领导成员．
With the best Blue Ginger Restaurant owner-Ming Tsai. 与最著名的Blue Ginger Restaurant 餐馆老板Ming Tsai
The fifty top executives of thirty companies from China led by Vice Minister of Commerce Wang Chao, visited to Boston in Sep.18th for the Chinese trade and investment promotion missions. The vice Minister Wang spoke at “Sino-US Science and Technology Innovation and Development Forum” held by the Massachusetts Office of International Trade (MOITI), to enhance the development of Sino-US economic and trade relations between the two countries and promote cooperation, and invited Massachusetts people to Beijing to attend the “Green Industry Expo.” At Nov.24-27th, 2010.
June 24, to July 10, 2010, The AAIA Delegation, headquartered in Boston, went to Shanghai, Beijing, ChengDe, Shenzhen, and Hong Kong.
The AAIA Delegation had 7 people, including President of PattyC Property Group and Chairman of America Asia Investments Association (organizing) Patty Chen, President of Education Without Borders Company, Swallow, General Manager of HNI International markets Nathan, Co-Founder and EVP of PharmaHub Corp Roger, Vice president of Iowa Realty Company Tim, professor of AIB Business College Rita, and Technology manager of PattyC Property Group Troy .
During the visit, The AAIA met many of China’s outstanding business people and companies, including Chairman and CEO of SouFun Holdings Ltd – Vincent Mo, Chairman of The Global Chinese Real Estate Congress (GCREC) – Ye Jianping, founder of HURUN REPORT -Hurun and president-Sinclair Lu, vice Chairman of Union Bank of Switzerland (UBS) and CEO of San Shan Capital Partners -Li Shan, President of Softbank Asia Information Foundation (SAIF)- Yan Yan, President of JuneYao Group-Wang JuneHao, owner of four-star hotel in Chengde City and President of the Chamber of Commerce-Lu KongQiu. DaCheng law firm, the largest law firm in China, invited The AAIA to meet with the leaders and experts of several of China’s central private and state enterprises. We discussed the Chinese enterprises’ investments in US real estate, education projects, and the American enterprises’ investments in Chinese health care and high technology companies. The two sides of the Chinese enterprises and the American enterprises agreed to communicate further about the detailed information and to seek future opportunities for deep cooperation. The Chinese enterprises are 1. Commercial Aircraft Corporation of China. 2. China National Real Estate Development Stock Co., Ltd. 3. China Foreign Economy and Trade Trust Co., Ltd., a subsidiary of Sinochem Group. 4. School of International studies, Peking University. The AAIA was also invited to participate in the Shanghai Jiaotong University Century of Wealth financial summit, Western Returned Scholars Association 2010 Beijing Forum, and American educational and cultural cooperation summit. We also visited Pangu Plaza office and international apartments, a seven-star hotel west of the Bird’s Nest and the Water Cube.
The purpose of The AmericAsia Investment Association’s (The AAIA) trip to China was to take the best advantage of both sides of China’s and the United States’s economic markets in real estate, health care, high technology, and China to US education (students) and training (including business executive training at Harvard University). The projects of cooperation and discussion are a total of 15.
As a host, we invited the Chairman of China’s biggest online real estate business company- SouFun Holdings Ltd. (shoufun.com)-Vincent Mo ( 搜房网控股董事长－莫天全) to Boston MA, US on the 26-27th of March 2010. We discussed real estate investment issues in some east and west coast cities for commercial properties, like 4 to 5 starts hotels and A-class office buildings in the US. President Patty Chen awarded Vincent Mo Chairman for being an Outstanding American and Chinese Entrepreneur, to recognize him for growing the Company to the largest real estate information provider in China with operations in 104 major cities since 1999 and his company- SouFun organized 40 Chinese investors to tour New York, California, Boston and Las Vegas on Feb. 24-March 6, 2009 for house-buying opportunities in the US. Chairman Vincent Mo is very interested in developing investments in the US.
Vincent Mo also had a speech at the Harvard Asia Business Conference on March 27th, 2010. At the conference, Vincent Mo was very popular. Many people were really concerned and exited about current over priced real estate in China. But he emphasized that China does not have real estate bubble. 300 million people from the countryside are moving into the cities in the recent 10 years and after these 10 years, another 300 million people from countryside will go to the cities for jobs and livings in China. The houses in China are unsaturated. His index institution analyzes data and monitors the real estate market in China. Now, the company operates in 4 segments: New Houses, Research, Resale & Rental, and Home Furnishing covering all areas in real estate and related industries today.
Meeting and dialoguing on several of the Land Use Districts, such as the Community Mixed Use, Professional Office District, Residential District, and potentially the Education District, coordinating with NAS-B and the MRRA plans, to fit the desired requirements and goals of MRRA and environs by introducing Chinese investors.
On Thu, Oct 29, 2009 at 8:20 AM, Patty Chen wrote:
Dear Barbara Corcoran,
I am very excited and looking forward to working with you.
I admire your strong character and great sense of business. I am very proud of you as you are the only woman out of five outstanding entrepreneurs in the Shark Tank TV show.
I am a real estate investor in apartment complexes and started the company in 2001 (www.pattycproperty.com). Because I have deep connections with China’s entrepreneurs, we provide business services between Asia and the United States through collaboration, partnership, and representation with China’s entrepreneurs and companies for real estate investment and service-on-demand in America for the businesses between the United States and China.
I look forward to hearing from you and talking with you soon.
Best regards, Patty Chen
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On Thu, Oct 29, 2009 at 1:00 PM, Barbara Corcoran wrote:
Hi Patty,
I so appreciate your contacting me about your businesses and I hope you keep your enthusiasm pursuing your dream…
Developed a great relationship of Real Estate and Finance Businesses with Wharton Business School in The University of Pennsylvania which is one of the oldest universities in America and, as a member of the Ivy League.
Acquiring apartment complexes in good locations such as FL, NV, and AZ markets for distressed properties with the hiring of experts in economics, finance, networking, valuation, asset management and due diligence.
Doreve Nicholaeff holds a Master degree of Architecture in Massachusetts Institute of Technology (MIT), founded well-known Nicholaeff Architecture + Design in 1986 working in California and New England. The firm has built their philosophy on the belief that building should be emotive, warm, inviting, beautiful and inspired; a place for rejuvenation and life. She designed a building is an excellent place of making business deals between the United States and China in our company-AABT Boston.
