TRI Pointe Group Unveils New Homes in Las Vegas, Reimagined From Award Winning Design of Millennial-Targeted Concept Home

Informed by strategic consumer research, these innovative single-family detached homes cater to Millennials' desires for high quality design and performance with prices starting under $400,000

HENDERSON, Nev., June 12, 2017 (GLOBE NEWSWIRE) -- Delivering on its promise to design homes that are not only compelling to Millennials but that can be appreciated by anyone with an eye for modern design features, TRI Pointe Group (NYSE:TPH) announced the success of their innovative home designs at Strada, a new neighborhood in the premier master-planned community of Inspirada in Henderson, Nevada. The neighborhood is being built by Pardee Homes, a member of the TRI Pointe Group family of homebuilders, based off the detailed feedback, design, and architectural elements from its Millennial-targeted concept home, the Responsive Home, also located in Inspirada. With three distinctive floorplans and prices starting at $393,990, Strada is successfully drawing in the style-conscious Millennial home shoppers for whom it was designed with an impressive 24 sales and zero cancellations since its grand opening in March.

TRI Pointe Group unveiled the Responsive Home at the 2016 NAHB International Builders' Show (IBS) with positive feedback from hundreds of people who toured the home. With today's young home buyer as the inspiration behind the design, Pardee Homes, in partnership with BUILDER Magazine, produced the Responsive Home utilizing strategic consumer research performed by Ketchum Global Research and Analytics. Ketchum's data showed that Millennials are interested in maximizing space, affordability, and personalization while maintaining a level of community typically found in urban environments.

"Investing in the future has always been a big focus for TRI Pointe Group, and the burgeoning Millennial market represents a significant opportunity if one can precisely appeal to their unique and discerning point of view," said Tom Mitchell, President and COO of TRI Pointe Group.

Armed with Ketchum's findings, architect Bassenian Lagoni, landscape architects AndersonBaron, and celebrity creative director Bobby Berk, a Millennial himself, were brought on as part of the all-star development team in order to help create the Responsive Home and deliver youthful, show-stopping designs blended with sustainable living.

Following the well-received Responsive Home, Pardee's next opportunity was to refine the concept home for a production home neighborhood at Strada.

Similar to many elements offered in the Responsive Home, the new homes at Strada offer evolution-over-time floorplans that can be tailored to homeowners' needs at all stages of life. Designed to be flexible as homeowners' needs change, the floorplans are coupled with authentic, functional, and aesthetically-beautiful spaces that complete the homes' interior and exterior design. Each floorplan blends livability with modern functionality, catering to the most important request of the younger buyers surveyed - more space, specifically outdoors.

Flexibility coupled with a strong indoor/outdoor synergy resonates with this demographic, which makes the entertainment-focused outdoor living space the most popular feature at Strada. Here the outdoor space is as much a part of the house as the interior spaces. Strada homes boast big courtyards with exterior glass walls which can be slid or telescoped out of the way, allowing for view lines from one outdoor space to another. Ceiling height was also a design focus for potential buyers who preferred volume space in strategic locations throughout the homes, offering a larger, open feel with expansive natural light flowing throughout the home's indoor and outdoor spaces.  In response to calls for more flexible space, some of the plans at Strada offer a downstairs suite with a full bath and walk in closet that's accessible to the front door. This option works well for a potential roommate and allows for adaptability as lifestyles evolve, permitting the home to be easily tailored to an owner's preferences. As part of the value engineering, roof pitches at Strada were modified from the Responsive Home design and made less steep with a simpler house structure to keep the homes more affordable without sacrificing any eye-catching elements. 

"We considered every detail when designing Strada, paying close attention to the feedback from the target demographic and what they were enthusiastic about," said Klif Andrews, President of Pardee Homes Las Vegas. "Thinking about Millennials monolithically is a mistake. If you do, you are going to miss a huge market and opportunity. Through our research, we learned they are nostalgic about the idea of a true neighborhood with nearby neighbors, safe streets for kids, pet-friendly design, and a real sense of community. They don't need or want huge spaces like 3-car garages; instead they prioritize cool and modern design features."  Pardee believes that these forward-looking trends are ubiquitous and resonate with homebuyers of all ages, including younger buyers.

^{Strada delivers youthful, show-stopping, open home designs. The all-star development team includes builder Pardee Homes, architect Bassenian Lagoni, landscape architects AndersonBaron, and celebrity creative director Bobby Berk.}

^{Strada's three distinctive floorplans are designed to be flexible as home owners' needs change. High ceilings in strategic locations in the home offer a larger, open feel with expansive natural light flowing throughout to complement the home's indoor/outdoor synergy.}