Under the lead of Brian Paul, CEO, elacora plans to invest $100 million into for-sale residential housing throughout the United States in 2014. The company announced its launch in the Los Angeles area with the model opening of The District on August 16, 2014 and The Axis at RiverPark in Oxnard, scheduled to open in October 2014. In addition, elacora plans to begin construction on Springville—
The launch of elacora allows RCS to utilize its vast real estate expertise to help fulfill an increasing demand for American housing. Marcel Arsenault sees home values growing 6-8% annually through 2017, with the industry regaining its footing and growing once again to over one million new homes constructed annually over the next 3 years.
He further predicts that “housing will grow from 2013’s 600,000 new homes to 800,000 new homes in 2014 and about one million the year after—a growth in the 25-35% range.”
elacora was formed in the wake of the national housing downturn, which left seasoned industry experts sidelined in their profession. RCS was able to re-capitalize on those experts and create a “dream team” of homebuilding professionals. Together, RCS and Marcel Arsenault are banking on a long-term housing recovery, with plans to invest considerable dollars toward for-sale residential housing.
According to Paul, “elacora has created a great business environment to help capitalize and rebuild the housing industry. A combination of in-house homebuilding expertise, superior financial strength and commitment to homebuilding plus the local knowledge and expertise at the market level has given us a proven model for success.”
Currently elacora has new home divisions in the northeast Florida, Los Angeles and Denver markets and will be announcing new markets over the next few months.
elacora has selected California Builder Comstock Homes as the exclusive general contractor and sales team for the Los Angeles division. Known for their innovative and progressive real estate solutions, the Comstock Homes team includes Robert Comstock, president and founder, David Lauletta, CEO, and Nicholas Long, CFO. Comstock Homes’ success with previous communities across California further supports the partnership with RCS and elacora.
RCS, a nationally focused investor of work-out and value-add properties, has a 30-year history of generating leading-edge performance in real estate, including commercial, apartment, condominium and homebuilding. The company’s homebuilding arm has acquired over $197 million in assets since 2008, with properties currently in Colorado, New Mexico, California, Oregon and Florida.
For more information on elacora homes, neighborhoods or markets, visit www.elacora.com.
Directions: Exit 101 Fwy, turn north onto N. Oxnard Blvd. into the RiverPark master-planned community at 3456 N. Oxnard Blvd. and follow the signs to the Sales Office.
elacora, an affiliate of Real Capital Solutions, is a national homebuilding company created to provide new and remarkable home choices in distinctive communities, fostering long-term success for homebuyers, landowners, developers and employees. Their expertise stems from decades of homebuilding experience, superior financial strength and the critical blend of national vision with local market knowledge. Highly committed to sustainability and reducing environmental footprints, elacora brings a fresh new perspective to communities with powerful lifestyles and investment opportunities.