September 26, 2021 - 4:48 am
Updated September 26, 2021 - 6:36 pm
A developer has announced plans for two luxury housing communities— one starting this fall in Henderson and another planned for 2022 in the southwest valley — as the demand for luxury new homes continues to escalate and builders are trying to capitalize on that demand.
The developer, Livv, even has plans to give buyers a Model 3 Tesla electric car, which retails for about $40,000 — building on its brand concept of smart and sustainable homes.
The timing is perfect.
Las Vegas-based Home Builders Research released data this week that shows luxury new-home closings of $1 million and higher rose 57 percent through August compared to 2020. There were 275 new home closings of $1 million and more during the first eight months of the year. There were 100 fewer through August 2020. In 2019, there 183 through the first eight months.
Calculating home closings of $750,000 and above, there were 635 through August. That’s 63 percent higher than the 389 in the first eight months of 2020. There were 450 closings of $750,000 and above through August 2019, according to Home Builders Research.
Livv is spearheaded by Philippe Ziade, the CEO of Growth Holdings, which does business as Growth Luxury Homes.
It built the new $4.3 million home for Raiders head coach Jon Gruden in Southern Highlands. The co-founder is tech entrepreneur Alex Bouzari, CEO at DataDirect Networks in Beverly Hills, which touts the company as the world’s largest privately held information storage.
Livv’s Henderson project, called Neo, has government entitlements and has the ability to move forward. A second development called Magnus in the southwest valley hasn’t received its entitlements from Clark County, and that process isn’t expected to be completed until next spring at the earliest.
Neo is on 60 acres and is adjacent to MacDonald Highlands southeast of Horizon Ridge Parkway and Stephanie Street, according to Steve Escalante, vice president of business development with Growth Holdings who has a similar title with Livv.
Livv has a dozen communities combined under planning and development in the U.S., Europe and the Middle East.
“It’s a brand new segment and brand that we will be taking nationally and looking at markets like Phoenix, California, Colorado, Texas, Florida and North Carolina,” Escalante said. “Right now, Vegas is going to be the flagship. This is the marriage of technology and real estate and taking it to the next level. These are Tesla-powered homes that are going to be net-zero positive-energy communities. It’s building a sustainable lifestyle and sustainable footprint.”
The founders wanted to shatter the status quo of how so-called luxury custom homes have been built for decades — too expensive, inefficient in energy usage, rigid and costly to maintain,
“Livv embodies a philosophy and corporate culture that believes in breaking antiquated paradigms of technology in real estate development to further advance the living experience,” Escalante said. “There has been so much advancement in technology, and real estate currently is so far away from its potential. We consider ourselves tech and real estate trailblazers. Livv is a technology company that will not only set the bar of where real estate development should be, today, but where it will be tomorrow. It’s powered by AI (artificial intelligence). That’s the whole concept of what we’re doing.”
The plan calls for 84 home sites in the hillside guard-gated community where prices will start at $2.3 million and escalate to about $4 million. The semi-custom homes will be one and two stories and range in size from 3,600 square feet to 5,000 square feet with either three-car or five-car garages. There will be three to four bedrooms.
“They will have phenomenal unobstructed views of the Strip and city and mountains,” Escalante said. “It’s panoramic. it’s beautiful.”
There are seven floor plans from which to choose with interior styles that range from “Euro chic, bohemian and ultra modern.” Grading is scheduled to start in October. Deposits of $25,000 are being taken for lots with closings set to begin in November and December with home deliveries in the fall of 2022.
The southwest valley development in the Rainbow Boulevard and Wigwam Parkway has about 37 acres with 94 semi-custom homes planned starting at $1.3 million to $2.8 million. Sizes haven’t been finalized but are expected to be between 3,000 square feet and 4,500 square feet for homes both one and two stories.
Escalante said it’s a great time to launch the development given the strong luxury market with new and existing homes and a lack of inventory to meet buyer’s demands.
“There’s a lack of inventory in the market, but beyond inventory is the type people are looking for,” Escalante said. “It’s going to serve a huge demand. This is filling a niche and providing a very high-level and high-end finishes and semi-custom niche. It’s going to have a custom-home feel through homes with the details going into the ceiling heights and hallways and so forth. It’s definitely something that’s unique. We want the consumer to feel like ‘hey, I’m getting a $6 million or $7 million home for $2.5 million. That’s the feeling when you want to walk through the door with a Livv community.”
Escalante said their brand is technology driven and will evolve as technology evolves. There will be a lot of AI installed where the home gets to know the owner, he said.
“There are sensors that exist but a lot of real estate developers aren’t technology people and a lot of technology people aren’t real estate developers. That’s why there’s such a big gap. This brand is bridging the gap between technology and bringing real estate into the next century.”
Escalante said the technology goes beyond controlling the home by the palm of your hand. It includes building management systems and efficiencies.
Livv optimizes lighting modes, climate control, curtain and shade settings, intelligently delivers music, movies and games when and where you want them, and keeps your home low maintenance and fully sustainable, Escalante said. Its smart security management provides child protection and pet safety indoors and outdoors, he said.
“For example, if you’re not in the house, it will know you’re not there so why is the electricity or water running,”
Escalante said. “It’s all about being sustainable. It has to react a certain way when you are there and a certain way when you are not there. This has to happen passively without you clicking a button. It’s the same for sensors in the house for particles in the air that cause allergies. The home should know what pollen you are allergic to and filter that so it’s a healthier environment. That’s how a home should work. it won’t just be wired for lighting or Cat 5, but the home will essentially have a brain. Once you live in the home it’s going to get smarter and smarter because of you. You’re waking up and do you want your cup of coffee, today, or do you want the air conditioning at this time. it’s having smart engagement with your home. This is where we see the future going in homes.”
As technology evolves, homes will get an update just as happens with a Tesla model. It’s more than what people get, today, Escalante said.
As for the Tesla coming with the house, Escalante said it fits the lifestyle.
“If you drive this car, this is the type of home you should live in and if you live in this type of home, you should be driving electric,” Escalante said. “It’s reinforcing the whole concept.”
Escalante said Livv is creating a portal where buyers can build their own home like they do when picking a car. The consumer will pick their model, finishes, options, garage sizes, gym, flooring, wine cellar or next-gen setup. As they make modifications, they will see their price.
There will be plush organic fabrics, luxurious stones and marble, custom wood floorings, metal accents, handcrafted cabinetry, sophisticated fixtures, precious inlays — all created, designed and handpicked by their international design team to complement and enhance the home’s architecture, setting and community, Escalante said. Livv will be using European-designed stone, marble, and cabinetry for better quality, he added.
“Even though it’s semi-custom, essentially it could be customized in so many different ways and make it unique,” Escalante said. “It’s not just the shape of the home but the design and style. We understand everybody lives differently and has different styles and we wanted to bring to the market three distinct styles to appeal to a broader audience.”