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Tuesday, July 23, 2024

Korean American Jaime Lee recognized as the real estate ‘Superstar’ in LA Koreatown

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Jaime Lee, the eldest daughter of Jamison Properties founder David Lee and CEO of the company, has gained significant recognition for her role in revitalizing real estate development in Los Angeles Koreatown.

On July 7, the LA Times highlighted Lee under the title “Superstar Koreatown real estate revitalist,” acknowledging her exceptional risk management skills that helped the company navigate challenges, such as the pandemic and escalating real estate prices.

During the pandemic, Lee capitalized on the crisis, turning it into an opportunity. While many real estate developers faced high vacancy rates for commercial buildings, Jamison minimized these rates by converting seven high-vacancy commercial buildings into residential properties. This strategic move has led other developers to seek advice from Jamison on reducing vacancy rates.

Jaime Lee

In response to rising real estate prices in Los Angeles, Lee has diversified Jamison’s portfolio, building housing for all income levels, from low- and middle-income apartments to luxury residences. “The reason for the rising real estate prices in LA is that there is not enough housing to meet the demand,” Lee explained, emphasizing the urgent need for moderate-income housing.

Beyond her business achievements, Lee is actively engaged in community service. She has been a member of the Board of Harbor Commissioners for the Port of Los Angeles since 2018 and has served on the Los Angeles City Employees’ Retirement System Board of Administration since 2014. Additionally, Lee is a Trustee of her alma mater, the University of Southern California.

“She is certainly a superstar of this city,” said real estate mogul Rick Caruso, who also serves on the USC Board of Trustees with Lee. “I think her road is really endless.”

BY KYEONGJUN KIM, HOONSIK WOO [kim.kyeongjun1@koreadaily.com]