Michael Gardner, the principal and founder of Studio G Architecture and Luxus Design Build, believes that luxury real estate can play a significant role in combating climate change. Gardner designed and built the 2023 New American Home at Ascaya, a two-story property in Henderson with 7,575 square feet. This luxury home features four bedrooms, six bathrooms, an outdoor kitchen, and has several certifications including National Green Building Standard “Emerald,” Energy Star, Indoor airPLUS, DOE’s Zero Energy Ready Home Program, and net-zero status. The home is currently listed for $15 million.
Speaking at the Inman Connect Conference, Gardner argues that luxury and sustainability are not contradictory concepts, but rather can be considered as two complementary lifestyles. He emphasizes the importance of incorporating sustainable practices into luxurious living and selecting items that align with one’s values.
Gardner believes that sustainability needs to become more mainstream as the threat of climate change intensifies. Higher-income individuals have the ability to make sustainable choices and should champion sustainability in their purchasing decisions to influence the broader market. He contends that the luxury space is often where innovation begins before eventually becoming more widely adopted.
Climate change poses a threat to the real estate industry as extreme weather events become more common. A report from Redfin reveals that over 50% of U.S. homeowners have made investments to protect their properties from climate change impacts such as rising temperatures, extreme cold, flooding, tornadoes, poor air quality, earthquakes, and wildfires. These investments range from upgrading air filters and home insurance to fortifying windows and improving foundations.
Redfin’s chief economist, Daryl Fairweather, states that climate considerations are increasingly influencing residential decisions. However, affordability remains the primary consideration for most homebuyers. Nonetheless, the financial implications of climate change, such as rising insurance costs and expenses for making homes more resilient, can impact affordability. Climate change can also result in migration patterns shifting as individuals seek areas with less climate-related risk.
Gardner stresses his commitment as a builder to incorporate sustainability and environmental friendliness into his projects. He utilizes local landscapes to address heat exposure and water retention, prioritizing good design that considers terrain and environment. His approach is to integrate sustainability from the beginning, irrespective of whether the housing is luxury or affordable.
Overall, luxury real estate can serve as a catalyst for sustainable living and environmental responsibility, promoting a shift towards a more climate-conscious future.
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