May 13, 2024

TerraCRG, Totem execs team up to try their own housing crisis solution

TerraCRG’s Ofer Cohen — who recentlystepped aside as CEO — is teaming up with Totem’s Vivian Liao and Tucker Reed on a platform called Ailanthus, Crain’s reported. (The name is a reference to the scientific name for “tree of heaven,” a tree native to China.)

The firm will take on projects at sites that are not shovel-ready and may require going through the city’s onerous rezoning process, which could turn the company’s timeline for adding the units into a pipedream. Ailanthus’ principals are out to show that there’s reason to support such projects across the city.

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