Location Ventures’ CEO Rishi Kapoor was recently featured in Authority Magazine Q&A titled “Homes Of The Future, With Rishi Kapoor of Location Ventures”
After the onset of the pandemic, wellness real estate was no longer simply a trend, but a reality. It raised the standard of what it means to live in a healthy environment. For Location Ventures, that means building homes that are integrated with tech, to provide cleaner air and water, along with lighting that works in conjunction with our circadian rhythm. If you live well, you live longer. This is coupled with creating a seamless transition from the outdoors, to inside, by integrating natural elements, such as wood and stone, in the architecture, along with plenty of terrace or backyard space, for fresh air and leisure.
As a part of our series about “Homes Of The Future”, I had the pleasure of interviewing Rishi Kapoor.
Rishi Kapoor, CEO of Location Ventures, has spent more than a decade focused on residential real estate, combining his expertise in the luxury sector with his strong background in sales and marketing. Upon founding Location Ventures, he set out to create meaningful living experiences in premium locations centered around nature and technology. To date, Rishi is responsible for leading the development of a portfolio exceeding $3.5 billion, including: high-end, custom single-family homes; repositioning multifamily properties; the development of boutique condominiums; and URBIN, a company dedicated to co-living, co-working and wellness.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
I am from a generational real estate family — we’ve developed and invested in hotels, single-family homes and offices throughout the Southeast United States and New Delhi, India, over the last 40 years. From a very young age, I knew I was going to carry on the legacy.
Following in my father’s footsteps, I obtained a Juris doctorate, in addition to receiving degrees in Finance, Marketing and Management from the University of Miami. This knowledge, combined with real estate, is instrumental in my daily negotiations, contractual work and the relationships we build throughout the communities we serve.
After law school, I embarked on a career in marketing, launching my own company that focused on real estate and professional services. Foreseeing a space for thoughtful developments that placed a premium on nature, technology and wellness, I launched Location Ventures in 2015. Today, the company has amassed a more than $600 million portfolio, with projects built on these very foundations I envisioned.
Can you share the most interesting story that happened to you since you began your career?
There have been so many interesting stories, and I hope there will continue to be more. Our company has become a melting pot of some of the most talented individuals I’ve ever come across. We pride ourselves on diversity and a strong culture. I’m very to luck to work with people from many backgrounds, including a C-Suite team of women, all of whom are making our community better through real estate.
One story that comes to mind that’s funnier than anything, and this scenario has popped up from time to time, is when I went into an investor meeting and was asked if I was also an actor, since a famed one from India shares the same name as me. It’s something I always joked about with my parents growing up. Now, I strive to be the first Google search result — sorry “other” Rishi.
Are you able to identify a “tipping point” in your career when you started to see success? Did you start doing anything different? Are there takeaways or lessons that others can learn from that?
There have been many tipping points, but I think any time we complete the loop on a project or close a deal, it reinforces and instills confidence in our vision. So many times, we’ve seen that creating the foundation for future projects is ultimately a win for us. Every time we level up, it furthers our mission of incorporating nature, technology and wellness into everything that we do.
None of us are able to achieve success without some help along the way. Is there a particular person to whom you are grateful who helped get you to where you are? Can you share a story about that?
Matthew Pellar, who is a local developer, has been an influence in my life since the beginning. I started as an intern for him and his partner when I was 19, and after I moved from Atlanta to Miami for school, it became a lasting experience as I settled here. Nearly 15 years later, things have come full circle; I purchased the land for Villa Valencia, our ultra-luxury condominium project, from him, which was a major catalyst in the development.
Do you have a book, podcast, or talk that’s had a deep impact on your thinking? Can you share a story with us? Can you explain why it was so resonant with you?
The book, “The Obstacle is the Way.” The title speaks for itself. In life and business, there is daily adversity, and you have to learn to live with it and progress. When it comes to a real estate project, anything can go wrong at any given moment, from funding to construction delays, to supply shortages. This book is one that I constantly go back to, to remind myself that challenges are the norm and that there are ways to push through. It’s my holy grail.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“If you want to know the road ahead, ask somebody who’s been there.” I am very big on mentorship; it’s something I’ve sought out in my own career and is a core tenet at our company. We have a program in place, where senior team members work closely with those who are younger to mentor them. My belief is that, while all roads are not the same, there is valuable knowledge and experience from looking to other experts in your field.
Ok super. Let’s now shift to the main part of our discussion. Homebuilding in the US has grown tremendously. We’d love to hear about some of the new trends and techniques that are being used to build the homes of the future.
After the onset of the pandemic, wellness real estate was no longer simply a trend, but a reality. It raised the standard of what it means to live in a healthy environment. For Location Ventures, that means building homes that are integrated with tech, to provide cleaner air and water, along with lighting that works in conjunction with our circadian rhythm. If you live well, you live longer. This is coupled with creating a seamless transition from the outdoors, inside, by integrating natural elements, such as wood and stone, in the architecture, along with plenty of terrace or backyard space, for fresh air and leisure.
Can you share with us a few of the methods that are being used to make homes more sustainable and more water and energy-efficient?
We are fortunate that our luxury boutique project, Villa Valencia, is the first condominium partner in the world of Delos DARWIN™ Home Wellness Intelligence network. Featured in each of the residences, this exclusive system is the world’s first platform aimed at enhancing human health, well-being, sleep and performance by monitoring and calibrating air, light and water quality. While we are a pioneer in this collaboration, it’s now become more customary for many new projects in Miami and beyond.
There is a lot of talk about Smart Homes. Can you tell our readers a bit about what that is, what that looks like, and how that might help people?
To me, a Smart Home is one that features systems that help you in the everyday management of your abode, typically through technology, making it all a breeze. Products can range from the Delos DARWIN system, which passively monitors air and water quality, to automatic lights and security that are controlled through a central hub, such as a built-in touchscreen on the wall or a phone app.
Aside from Smart Homes, can you talk about other interesting tech innovations that are being incorporated into homes today?
These past few years, we’ve really seen a new standard come into play for wellness real estate. The new normal is to have integrated technology in the home, such as Delos DARWIN, an intelligence system aimed at enhancing human health, well-being, sleep and performance. As mentioned, it passively monitors and calibrates air and water quality, in addition to mimicking the natural sun cycle through circadian rhythm lighting, helping the body maintain a healthy sleep-wake rhythm to improve energy, mood and productivity.
Can you talk about innovations that are being made to make homes more pet friendly?
It’s interesting you ask this question, because the future of homebuilding definitely needs to account for our four-legged family members, as around 1 in 5 households adopted a pet these past two years.
Not only are homes now built with pet baths, doors and built-in nooks for feeding, but in-building services have extended to encompass all occupants.
For example, at Villa Valencia, the Elevate Wellness program — a bespoke portfolio of wellness services for residents — includes canine acupuncture, walking and grooming. Residential projects, especially in urban areas, now also have to consider green spaces, either nearby or adjacent to the building.
How about actual construction materials? Are there new trends in certain materials to address changes in the climate, fires, floods, and hurricanes?
When designing a project in South Florida, every developer needs to be conscious of climate change, which has been evidenced by hurricanes and flooding. At our latest project URBIN — a mixed-use, flex live-work concept, we are integrating rainwater gardens and rooftop solar panels to maximize efficiency during certain extreme weather events. Working closely with our architecture partner, these intentional, resiliency initiatives will allow our communities to best adapt to the long-term effects of climate change.
For someone looking to invest in the real estate industry, are there exciting growth opportunities that you think people should look at more carefully?
My advice would be to look at secondary markets, which are growing areas in close proximity to major urban cores. Once the center becomes too dense, demand will flow to build in surrounding suburbs/cities. In our studies of secondary markets, the population projections are impressive, from expanding university bases with a young professional demographic, to entrepreneurs and families looking for high quality of life in expanding cities. These individuals aspire to be part of something that’s evolving, unlike many metro cities that are higher barrier-to-entry and lack affordability.
Let’s talk a bit about housing availability and affordable housing. Homelessness has been a problem for a long time in the United States. But it seems that it has gotten a lot worse over the past five years, particularly in the large cities, such as Los Angeles, New York, Seattle, and San Francisco. Can you explain to our readers what brought us to this place? Where did this crisis come from?
I think we’re seeing it first-hand in Miami with in-bound wealth migration. As more money enters the market, housing prices will continue to climb, leading to inventory becoming even more tight. With URBIN, our aim is to provide a more accessible price point with the ease of convenience. We are developing turnkey residences with flexible lease terms, connected to dedicated co-working spaces that provides a unique live-work-wellness concept never seen before. For those looking to be part of in-demand neighborhoods, like Miami Beach and Coconut Grove, Florida, this is an alternative to some of the higher-priced and increasingly-limited living product, without losing the amenities and services that are important to today’s user.
Is there anything that home builders can do to further help address these problems?
It’s important to continue identifying opportunities for new development to bring additional product into the market, especially given dwindling supply in places like South Florida. Monitoring various pockets with an existing residential need and evaluating options for adaptive reuse is another way to convert properties to housing.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger.
My philosophy is to always persist in achieving your greatness. Whether it be to transform lives through incorporating wellness into the everyday, or finding a cure for a common ailment, I truly believe that you would be amazed to see what you can accomplish simply by never giving up. Part of this mentality about persistence also welcomes challenges, as it tests your grit and drive to reach your true passions and purpose.
How can our readers follow you online?
https://www.linkedin.com/in/rishi-kapoor-8991a34/
https://www.instagram.com/locationventures/
This was very inspiring. Thank you so much for joining us!
