Based in Agoura Hills. California, privately funded Renasci Development understands homebuyers and homebuilders - from lot to home design.
WITH A TEAM that has built thousands of homes, Renasci Development understands the market.
The experienced executive bench knows what families want in a home and have the added knowledge in educating themselves to know what other builders need when developing finished lots. The group has utilized their expertise and attention to quality and applied that to the company, founded in 2013. It has taking off successfully, especially in northern California.
Renasci is taking several neighborhoods to market, designing contemporary homes that are energy efficient, attractive and meet the diverse needs of today’s families. At the same time, the company is looking for potential projects where lots can be developed – for Renasci or for other builders.
“My focus is across the entire spectrum of the residential space,” CEO Steve Kessler says. “We have a homebuilding operation that’s active, and I am always looking for the right entitlement project that I can ultimately build out, or opportunities that are larger and need land development work where I can develop lots for other builders.”
The approach has won the support of important capital providers, such as Rialto Capital and KFG Residential – a formidable vote of confidence for the team who came together to launch the company.
“We’re very thankful for those private equity shops backing us,” Kessler says. “We hope to do great things with them in the future as we expand our footprint throughout California and certainly northern California.”
The investor partners share in the vision of pursuing development opportunities and enjoy the rewards of creating a special place of memories – home.
The company recently opened models for three new neighborhoods in the El Dorado Hills, just east of Sacramento, California: the Willows, the Elms and the Oaks. Grand opening for the first, 19 homes in the Willows. occurred recently with the other projects – 47 Elms and 17 Oaks – slated for January 2016.
The company anticipates starting development on its most recent acquisition in the fourth quarter of this year. It will also be in El Dorado Hills and will include 28 large lots with all single story homes.
The homes showcase the future of home design with efficiency, innovation and convenience.
The newly constructed homes are designed to provide what today’s families and future families want, from open floor plans to inviting entertainment areas, gracious kitchens, ample closet space and spa-inspired master baths.
The homes also aim for a higher standard of energy efficiency, with solar power, dual-pane windows and radiant barrier roof sheathing, to name a few elements that should make the homes up to 30 percent more efficient than homes built 10 years ago. The cost and environmental savings of buying a new home at the Willows can add up, yet homeowners are looking for the health benefits associated with state-of-the-art ventilation and air-sealing techniques, Kessler says. An energy-conscious focus is now a baseline for most builders, he says.
A commuter-friendly setting just 22 miles east of the job center of Sacramento, as well as Folsom, the communities are located close to some of the highest-rated schools and some of the best restaurants in the area. The neighborhood is gated and sits on the border of Folsom and El Dorado Hills. Additionally, the location is within close proximity to Folsom Lake, Lake Tahoe and the many recreational amenities in the area.
“We’re a new builder,” Kessler says. “We don’t have a brand that’s been around for a decade. We would hope, when families look at the executive team’s background – we’ve built thousands of homes, all very high quality – that they recognize our capabilities and our values. A reputation is
something that will build over time and our homes will speak for themselves. I think quality is No. 1 and understanding our customers is key.”
The executive leadership team at Renasci has been building communities people love to call home throughout California for over 100 years with their combined experience. Between the four lead executives, led by Kessler, the Renasci management team has successfully developed thousands of lots and built thousands homes. Kessler’s career has been influenced by his work for the most preeminent public and private homebuilding and development companies in Southern California. He has been involved in all facets of residential real estate development, often during fluctuating cycles, and in 2003 was appointed division president of Trimark Pacific Homes.
Throughout his career, he has built over 2,200 homes. He also has been responsible for the acquisition, disposition, entitlement, development and/or homebuilding of over 9,500 lots, 3-million-square-feet of industrial space – and the subsequent disposition of many of those properties – resulting in hundreds of millions of dollars in revenue.
He personally has raised or has been instrumental in the process of raising over $300 million in capital for real estate investment.
“I am using the tools I’ve learned over the last decade to launch a company with the best techniques,” Kessler says. “Homebuilding is a facet that’s important to the whole spectrum. If you’re developing or entitling land, you need the expertise to know what builders need. The same goes for building for the families who will ultimately call a house their home.”
Over the years, he’s watched trends come and go, but he is finding that larger lots still are critical for suburban areas, that families want the convenience of technology and they expect energy efficiency – even if that means connections to alternative sources are prewired. Families want options.
As a strong partner to other builders – public and private – Renasci knows the value in offering finished lots, especially in a post-recession market where developers are reluctant to keep large inventories of available lots.
“If I can deliver finished lots and they can have just-in-time inventory, that’s worth a lot,” Kessler says. “That’s one of the business avenues: to allow public and private builders to focus on what they’re great at and I’ll handle the land development side.”
Though the company is based in Southern California, Kessler says the team has found a solid market – and viable land deals – farther north, near Sacramento.
Even there, it takes a skilled developer to produce lots – and ultimately livable, lovable homes – a worthwhile pursuit.
“Everybody is very careful about how much inventory they keep,” Kessler says. “That is why I still think there’s a good opportunity for developers to produce lots in a metered fashion, but I think it takes the right developer and the right team.”