Cherry Hill Development Taiwan
Overview
Cherry Hill Development was one of Jesse Chan’s real estate projects in Taipei, Taiwan, consisting of three-story buildings with multiple residential units. It represents Jesse’s transition from nightclub owner to real estate developer - a business that would become his longest-lasting and most successful venture.
Property Details
Building Configuration
- Three-story buildings
- Multiple units (exact number to be documented)
- Jesse described it as “very simple one”
- Residential rather than commercial
- Multi-unit design for rental or sale income
Jesse’s Description
Jesse described his real estate approach simply:
“Real estate is really simple. You just look at the land and you like it, you just buy it. Then we build a house. That’s it.”
This straightforward philosophy guided Cherry Hill and other projects.
Comparison to Other Projects
Cherry Hill vs. Houses on the Hill Taiwan:
Cherry Hill:
- Three-story buildings
- Multiple units
- “Very simple one”
- More modest/accessible housing
- Multiple families per building
Houses on the Hill:
- Big houses on hillside
- Luxury properties
- Rented 3 years, then sold
- More upscale market
- Individual family homes
Development Process
Taiwan’s Real Estate Model
Installment System:
- Jesse could “buy land on installments before building was finished”
- “Put down your money in installments as they build, you pay”
- Different from American model: “Not like America - you have to finish it before you sell”
- This financing model enabled Jesse to develop multiple properties
Construction
- Rose loved visiting construction sites with Jesse
- Family dog Sugar guarded construction property
- Hands-on owner involvement
- Rose’s memories show father-daughter bonding at construction sites
Role in Jesse’s Business Empire
Real Estate as Primary Business
Multiple Properties:
- Cherry Hill Development
- Houses on the Hill Taiwan
- Other properties (to be documented)
Why Real Estate?
- “Really simple” according to Jesse
- Longest business - outlasted nightclub, import/export
- Most successful - funded children’s expensive education
- Could leverage installment payment system
- Growing market in booming Taiwan economy
Timeline
- Late 1960s: Nightclub
- 1970s-1980s: Real estate (primary focus)
- Also concurrent: Import/export, bakery (Betty managed)
Family Involvement
Jesse’s Role
- Identified properties
- Purchased land
- Oversaw construction
- Made development decisions
- “You just look at the land and you like it, you just buy it”
Rose’s Memories
- Visited construction sites with Jesse
- Quality time with father
- Remembered dog Sugar at construction sites
- Exposure to business and entrepreneurship
- Ages approximately 10-18 during main development years
Impact on Children
Financing Education:
- Real estate profits funded Taipei American School ($10,000/year by 1986)
- All four children received scholarships to US universities
- Jesse and Betty “worked very hard” to afford education
- Cherry Hill and other developments made this possible
Historical Context
Taiwan’s Economic Miracle (1970s-1980s)
Real Estate Boom:
- Rapid urbanization
- Growing middle class
- Housing demand increasing
- Construction industry booming
- Opportunities for developers like Jesse
Why Jesse Succeeded:
- Right place, right time (Taiwan’s growth period)
- Simple, practical approach
- Installment system enabled multiple projects
- Hands-on management
- No need for formal real estate education
Filipino-Chinese Entrepreneurship
Pattern:
- Left Philippines as employee (Eastern Textile)
- Became entrepreneur in Taiwan
- Real estate as accessible business
- Upward mobility through property development
Legacy
Financial Foundation
Cherry Hill and other real estate projects provided:
- Steady income stream
- Capital appreciation
- Resources for children’s education
- Financial security for move to USA (1990)
Educational Investment
Real estate profits enabled:
- Four children to expensive international school
- All four to US universities with scholarships
- Professional success for next generation
- Foundation for three-generation family prosperity
Rose’s Business Exposure
Visiting construction sites with Jesse gave Rose early exposure to:
- Business operations
- Real estate development
- Entrepreneurship
- Father’s work ethic
- These lessons influenced her own career path (attorney, married to entrepreneur Warren Loui)
Connection to Dog Sugar
Sugar the Guard Dog:
- Stayed at construction property
- Protected site from theft/vandalism
- Rose remembered Sugar specifically
- Part of family’s Taiwan memories
- Shows hands-on approach (family dog as security)
Research Questions
- Exact location of Cherry Hill Development in Taipei?
- How many units total?
- When was it built?
- Did Jesse sell units or rent them?
- Still standing today?
- Purchase and sale prices?
- How did Jesse finance the land purchase?
- Who were the typical buyers/renters?
- How many properties did Jesse develop total?
- Photos of Cherry Hill Development?
- What happened to the property when family moved to LA in 1990?