Developers Are Taking on Wellness

High-end condo developers and home builders are using technology to build homes that cater to the residents’ health, Forbes reports.

In the past decade lots of new ideas have found their way into residential construction — aging-in-place, green initiatives, sustainability. It seems only natural, pun intended, for wellness to be part of the equation. Turns out that wellness real estate makes up $134 billion of the of the $4.2 trillion global wellness economy. Home builders like KB Homes signed on earlier this year to develop and sell wellness real estate. But other custom builders and developers, who may not have KB’s volume of scale are seeing wellness as a great value proposition and differentiator.

One such developer taking the gamble is Rishi Kapoor, CEO of Miami-based Location Ventures, with Villa Valencia.

The project, which broke ground in Coral Gables earlier this year, will have 39 luxury condominium residences and feature the Darwin system. “Every one of our residences will be controlled by smart home systems. Darwin can plug right into that and residents can, among other things, monitor air quality and lighting temperature,” says Kapoor.

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