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VN firm builds $40m housing project in US

HQC USA LLC, a member of Vietnamese property developer Hoàng Quân Group, recently held a groundbreaking ceremony for a US$40 million mixed-use development project at Tacoma City, Washington.
The seven-storey HQC Tacoma is the first overseas project of Hoàng Quân Group.


Covering more than 3,000sq.m on 1210 Tacoma Avenue South, HQC Tacoma has two basement floors for parking with 214 lots, ground-level retail amenities and 166 apartments with area ranging from 41.8sq.m to 95.2sq.m, of which 20 per cent will be affordable units.
The News Tribune reported in October that in exchange for providing lower priced apartments, HQC will receive an exemption from property taxes for 12 years on the improved value of the land used for the residential units.
The project is set for completion in the second quarter of 2019.
Hoàng Quân Group is developing 36 projects, including 22 social housing projects.