Thriving multifamily developer poised for continued growth to meet market demand
SEATTLE, January 26, 2022 – Vibrant Cities today announced that Ming Fung has been named President of the Seattle-based multifamily developer. She previously served as the company’s Chief Financial Officer. Fung co-founded Vibrant Cities in 2016 with James Wong and Pui Leung.
“I am excited to be increasing my responsibilities as Vibrant Cities continues to grow and serve the dynamic communities to Seattle and Portland,” said Ming Fung. “Multifamily options are in demand in both markets, and we are all very proud of our expanding portfolio and the positive impact we have within our communities.”
Fung designs the complex financial models that drives each of the projects at Vibrant Cities. She recently helped secure over $400 million of financing for their development pipeline and was a recipient of the Puget Sound Business Journal’s “Deal Maker of the Year” award.
“Ming is an incredible operations leader, managing a variety of complicated projects to get them each designed, financed, constructed and managed,” said Chief Executive Officer James Wong. “There is nobody better at building all the trusted relationships that are required to build something we can all be extremely proud of. I know I can do my part in making our business more successful because I trust Ming, Pui and the rest of our team will deliver our projects most effectively.”
“As a co-founder of the business, I fully support Ming’s promotion to President.” said Managing Director of Development Pui Leung, Vibrant Cities’ partner in charge of entitlements and construction. “The development business is hard work and we’re dealing with multiple decisions that have tens of millions of dollars of impact. I’m grateful to have such wonderful partners that I can fully trust and be in the trenches with every day.”
Vibrant Cities also announced the promotions of Phil Lam to Principal, Director of Finance and Cindy Li to Corporate Relations Manager. Lam, previously their Controller, will take on larger / expanded role in debt financing and continue to oversee accounting operation. He began his career as an auditor with Ernst & Young in the real estate group. He holds both a undergraduate and Master’s degrees in Accounting from the University of Washington. Cindy started as Office Manager in 2020. She quickly took charge of organizing community outreach events and establishing corporate relations with key partners in their vital development community.
Vibrant Cities currently has five projects under construction and another six in the development pipeline. Recent projects of note include Pivot, 95 units at the gateway to Seattle’s Capitol Hill, offering views of downtown is now leasing; Infinity Shore Club, 37 luxury condominiums on West Seattle’s Alki Beach, with 12 residences already under contract; and Fargo, 100 market rate apartments units in Portland is ready to break ground in February.
Fung previously worked for Starbucks, led digital transformation program and the launch of Starbucks Loyalty Program across China and Asia. Her insights are grounded by Executive Studies at Stanford University, and a Master’s in Information Management from the University of Washington.
About Vibrant Cities
Passionate, driven and innovative–Vibrant Cities is a multifamily real estate development firm creating some of the most community-minded, livable and leading-edge buildings in Seattle and Portland. Their buildings are strategically positioned in sought-after neighborhoods and are purposefully designed with building community in mind. Vibrant Cities’ mission is to not only create high-quality and affordable buildings but to construct beautiful spaces our residents feel proud to call home.