David Hall, a Mormon from Provo, Utah, has big plans for the future: to move out of his 3,500 square-foot home and into a 200-square-foot apartment.
Hall sold off his father's drilling-technology company Novatek last year and spent about $100 million purchasing and developing a vision for master-planned communities originally designed by Joseph Smith, the founder of the Mormon church.
Hall currently owns 200 acres of land in Utah and 1,200 acres in Vermont. While construction is decades away, the present day purchases have caused concern among local communities that Hall is driving up home prices and shuttering communities. Hall sees, instead, that he's on the cusp of something bigger.
Hall has created 25 startups focused on maximizing the efficiency of a 200-square-foot space with kitchens with rotating cabinets and soundproof plastic walls that can be moved for room configuration.
Right now, Hall is finishing up the NewVistas prototype, which is a 24-room hotel in Provo, where he and his wife will move into when it's complete. He hopes forward-thinking millennials who see the need for more sustainable and stronger communities will come join him.