HOUSTON, Sept. 10, 2021 /PRNewswire-PRWeb/ -- An extraordinary team of Houston-area real estate professionals representing five decades of construction and real estate development expertise is entering the build-to-rent single-family housing sector, with an initial offering planned for Atascocita, a northeastern suburb of Houston.
The new Lēva Living build-to-rent single-family housing development will be led by President Jennifer Orr, CEO Bobby C. Orr Jr. of Orr Commercial in Houston, and Executive VP of Finance Jeff Williams. This team brings more than 50 years of commercial real estate development, brokerage assessment, and property management experience to the table. Jennifer Orr is spearheading product development, market positioning, site selection, and property management and will run day-to-day operations. Jennifer has deep expertise in real estate brokerage and retail and office leasing and has most recently served as Hospitality Team Lead for Sonder, a global tech-enabled hospitality firm.
"Current real estate market analysis shows the need for single-family rental housing is on the rise as millennials are seeking more space and an affordable place to raise their families without sacrificing quality of life," said Jeff Williams, Executive VP of Finance at Lēva Living. "Although the single-family housing lifestyle appeals to those in their twenties and thirties, ownership attainability at this stage in their life is at a low point in comparison to those of previous generations, as they've often saved less for a down payment due to economic circumstances and are often saddled with student loans and other debt. At Lēva Living, we're responding to this demand by moving into the 'horizontal housing' rental space with the development of the Atascocita project, our first entry into the growing build-for-rent market."
With the housing market experiencing rapid transition, Lēva Living has identified a growing need for innovative approaches to meet consumer demands. The Atascocita community will be a low-density housing development featuring 175-200 units of one-, two-, and three-bedroom single-family homes alongside high-end amenities including gated back yards, scheduled lawn maintenance, 24/7 onsite property management, a clubhouse with a fully equipped fitness center, a swimming pool and spa, a dog park, and ample green space for residents to enjoy outdoor activities. As a build-for-rent (BFR) development, Lēva Living's Atascocita project will be a purpose-built community of contiguous homes that are rented as single properties but managed as a community, much as a Class A apartment building might be.
"With the housing market tight, many millennials are opting to rent, with newer single-family rentals competing with apartments that often boast impressive amenities but may also feel crowded and anonymous," said Lēva Living President Jennifer Orr. "Tenants desire the benefits of home ownership, such as no shared walls and private yards, while also enjoying the amenities expected in luxury apartments. Lēva allows our renters to live in the best of both worlds, creating new opportunities for residents, communities, and developers, while maintaining a low turnover rate and the highest standard in long-term maintenance."
Looking forward, the Lēva Living team is focused on leveraging existing relationships to refine their offerings and present the best options available in a rapidly growing homes market. Once the Atascocita project is established, team members hope to continue to expand their program regionally to better serve this growing share of the housing market.
About Lēva Living
Lēva Living is a Houston, Texas-based build-for-rent developer that provides an alternative to traditional multi-family projects. The company is developing a new class of single-family living that focuses on a carefree, comfortable, and convenient experience. For residents, Lēva's developments feature all the benefits and amenities of single-family living in a master-planned community without the typical challenges associated with home ownership.
Additional information about the Lēva Living experience and the company's leadership team can be found by visiting the Lēva Living website or through the listed media contact.
Jennifer Orr, Lēva Living, +1 832.439.5014, [email protected]
SOURCE Lēva Living