KEVIN CHEUNG - LANDA Global Properties

ELEVATING EXCELLENCE

ReShaping Vancouver’s Skyline

KEVIN CHEUNG

CEO LANDA Global Properties

By Oliver Finlay | Photographed by David Hamilton

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IC: In fifteen words or less, who are you and what do you do?

KC: Kevin Cheung, real estate entrepreneur, raising the bar for luxury developments in Vancouver.

IC: Where are you from and what brought you to Vancouver?

KC: I was born in Shanghai, but moved to Montréal at age 3 when my mother came to do a masters in software and hardware engineering. I can remember it was cold and snowy, but I can’t really remember much about the people, as those memories were in French and I can’t remember how to speak the language now. After five years there, we moved to Seattle for a few years and then to Vancouver, where I went to high school and university, before moving back to Shanghai. However, after 3 years working in the family real estate development business there, I was desperate to come back and set up on my own.

IC: What is it about Vancouver that made you want to return from Shanghai and develop your real estate business here?

KC: It just felt like home…all the things that make Vancouver great - the outdoor lifestyle, the sea-wall, nature. It may sound

cliché but life is less intense here than Shanghai and it has an effect on the body. I wanted to set up my company, Landa Global, to reflect this quality of living.

IC: What is the vision of Landa Global and how is that demonstrated in the projects that you undertake?

KC: We handpick prominent locations, often corner sites that can take a greater level of design and architectural innovation. For each project, we create a site-specific vision, as opposed to having a project in mind and then looking for somewhere to place it. I can go look at a site and develop a picture in my mind of what we can do with it - for example, 1818 Alberni just shouted at us. It’s such a wonderful location.

IC: The real estate market endured a tough year in 2019. Were you anxious at any point that your vision for the company was in jeopardy?

KC: A little…but I kept reminding myself that it was a downturn in the market.

We got hit the hardest because of our commitment to the luxury market but the base economics are strong - there are strong immigration statistics and we recognize that it’s just part of the cycle.

Château Laurier was half complete by the time the downturn hit but we had always planned to cap pre-sales once half the units were sold. We wanted to await completion to allow further prospective buyers to really gain an understanding of the quality and philosophy. It’s not your typical Vancouver project, as the units are at least 2,000 square feet and have 3 bedrooms and den - in a way quite a similar concept to 1818 with large units - so they’re aimed at Shaughnessy down-sizers who want to remain in the area.

IC: Some of Vancouver’s real estate developers and architects are starting to make a name for themselves beyond the city limits. Does that inspire you and challenge you to raise the bar with your developments?

KC: Absolutely. We aim to raise the bar with each project. For 1818 Alberni, we wanted to raise the bar for luxury and offer a spec that is unheard of. Cascade in Richmond is the same.

In fact, we have just completed the purchase of a new site in Richmond across from the Oval that will include a hotel, three towers, two residential. The idea is to raise our own bar once again, and I can show you our top secret first designs of that [editor’s aside: they are incredible!].

IC: Without mentioning any specific projects, a couple of greatly anticipated building completions have recently been blighted by some rather high profile quality control issues. How can buyers ensure that the shiny sales presentations are not selling a dream that could turn into a nightmare when they’re handed the keys?

KC: I can only speak for Landa Global and the fact that we take a different approach to our design, in that we are committed to the balance between form and function. I believe the flow of the spaces and the movement through the building has to be both interesting and allow for functional form.

Our aim is to enhance the lives of our residents, by having a

positive impact on them as they

go about their lives, which in turn, allows them to prosper. We want to provide privacy and luxury, with an attention to detail that is unique in the city. We believe in creating legacies that contribute a positive impact on neighbourhoods and the city as a whole, so the cookie-cutter projects just don’t excite us.

IC: One focus for these interviews is sustainability, with many of the entrepreneurs that IC speaks with, sharing a passion for developing environmentally aware and sustainable projects. I believe that 1400 Alberni is slated to become the tallest passivehouse tower in the world. Tell us more about this and other characteristics of your developments.

KC: Yes, 1400 Alberni is taking a leadership position in terms of sustainability. Our aim is to reduce energy consumption by 90%, before adding solar and wind power. It involves taking a degree of risk, as it is uncharted territory to build a Passive House of this size, but we’ve been learning quickly. We have taken trips to Belgium, as they had an energy crisis about 20 years ago, and subsequently changed their building code to incorporate the Passivhaus (passive house) approach. So for us, that was a great place to start our research and we now work with a consultant [editor’s note: “passive house” is a voluntary standard for energy efficiency in a building, which reduces its ecological footprint].

We are really keen on exploring how we address sustainability and 1400 Alberni is the big leap for us. We are not just repeating the Passive House concept, we are going over and above the regulations and we believe that this is a great statement for Vancouver, as well. Consequently, this has demanded collaboration with some of the leading designers and engineers around the world to make this happen.

IC: Seattle has been at the forefront of sustainable building over the last 5-10 years, with the likes of the Bullitt Center (certified as a “Living Building”, it produces more than 30% more energy than is needed for all uses and includes features such as an onsite rainwater-to-potable water system) and the new Amazon Spheres. UBC has also been making a name for itself with some of the innovations that have been developed in their engineering departments. Do you see the Pacific Northwest as being at the epicentre of construction innovation and if so why do you think that is?

KC: I think we are, and I think the government is pushing that, whilst the developers are interested too. But you have

to put this in perspective. In Belgium, where they have been working to Passive House regulations for years, even social housing has to meet Passive House standards, as has any project that requires over a 75% rebuild.

IC: If you were to retire tomorrow, which of your developments would you be most proud of?

KC: I love them all, but 1400 Alberni would probably be the golden child because of the twin towers and the height. Each building has its own legacy factor, but 1400 is the one I think is most innovative.

That said, my mind is always moving on to the next project and how we can make that even better, so ask me again in a few months and I might have a different answer.

IC: What was your first business venture and how old were you when you started it?

KC: I got my real estate license at 19. I immediately bought a single family lot on the west side of Vancouver and built a on it. I’m still very proud of it and it demonstrated the family influence. It’s such a great sense of accomplishment to create a home, to provide a space for a family to live in while also creating a positive impact on the community.

IC: Who are your mentors?

KC: My father. He’s a real estate developer with many years of experience and as such, someone I can always run ideas by.

IC: What 3 words would your closest friends use to describe you?

KC: Adventurous, innovative, fun loving.

IC: Thank you, Kevin - it’s been great to hear the inside track on these stunning developments. Now, all

1818 Alberni

Château Laurier, Shaughnessy

1400 Alberni

that is left, is for you to answer Iconic Concierge’s ‘Completely Unrelated, but Nevertheless Entertaining Standard 10 Questions’…

Are you ready?

KC: Love it!

IC: You lose everything you own. How do you rise like a phoenix from the ashes?

KC: Connections and friends… combined with a solid work ethic. Then, as I start to earn again, save my money and compound interest.

IC: You find a lottery ticket that ends up winning you $20 million. What do you do?

KC: Easy. Reinvest it into another cool project.

IC: You can invite 5 people for a dinner party - and the guest list isn’t restricted by the confines of time and mortality. Who joins you for dinner and why?

KC: Sir Li Ka Shing (a Hong Kong business magnate, investor and philanthropist), Warren Buffet, Elon Musk, Jack Ma (Alibaba co-founder) and my great-grandfather.

IC: What was your first car, what do you drive now and what is your dream car?

KC: My first car was a Toyota Corolla that my mom gave me. My daily driver now is a Tesla Model X but I love cars, so I do have a couple of track toys. I own a Lamborghini Huracán Performante and a Porsche GT3RS.

As for my dream car - I’m building my relationship with Ferrari, as I would love some of their special editions, but they aren’t models you can just walk in and buy. That said, I hadn’t seen the Devels before until I read the last edition of the magazine…they’re beautiful.

IC: What one piece of advice would you give to your 16 year old self?

KC: Invest early.

IC: Who would play you in a movie about your life?

KC: Ryan Reynolds.

IC: We can’t wait to explore again. Where is your favourite travel destination and why?

KC: A tough question, I love traveling. always love going back to Shanghai to see family but aside from that I really enjoy going to London.

Once it is safe to travel again, I would like to visit Panama for a fishing trip, and explore Kenya, following the herds across the Massai Mara during the Great Migration

IC: Tell me your favourite joke…

KC: Two pirates, Morty and Sol, meet in a bar. Sol has a patch over one eye, a hook for a hand, and a wooden peg leg. “Ye gads, matey,” says Morty. “What happened to ya?” Sol says, “Me pirate ship was attacked, and a lucky shot lopped off me leg. So now I got me a wooden peg.” “And yer hand?” asks Morty. “When me

ship sank, a shark bit me hand off. So now I got me a hook.”, Sol replies. “OK, but what’s with the eye patch?”, continues Morty. “I was standin’ on a dock, and the biggest seagull I ever saw poops right in me eye.” exclaims Sol. “But ya don’t go blind from no seagull poop.” queries Morty. “True,” says Sol. “But it was me first day with the hook.”

IC: Where is your favourite Vancouver restaurant?

KC: Tetsu Sushi. It’s a small but super authentic restaurant, with the freshest fish flown in from around the world.

IC: Complete the sentence: “Vancouver is a great place for entrepreneurs in 2020, because…”

KC: …it’s a great place to live and, as a hot-bed for entrepreneurship, we are becoming a growing global destination that attracts some incredible talent.

Thank you, Kevin!