Vertical construction is underway on The Roosevelt as Caliber Development, a division of the real estate investment firm, Caliber – The Wealth Development Company, completes the foundations of the $14 million downtown Tempe project.
The Roosevelt is a 32-unit townhome community that will feature zero energy ready units for residents. The project, which is near Mill Avenue at 233 S. Roosevelt St., is expected to have the first phase completed this December.
The first phase will include 14 units. The Roosevelt will have two bed, two and a half bath townhome models with over 1,800 square feet of living space. The homes will have the latest in sustainability initiatives and home automation technology.
“Caliber Development has worked closely with city officials and the community to ensure the property offers a modern Class A building full of amenities and sustainability innovations to increase property values and improve quality of life,” said Roy Bade, executive vice president of commercial acquisitions and development of Caliber. “The Roosevelt will fulfill the heightened demand from buyers wanting sustainability features that reduce aspects like energy and water usage. We’ve designed many newer technologies and methods into this forward-thinking community, well-located amidst prime office and retail in Tempe, to fit today’s urban buyer seeking a live-work-play lifestyle.”
When completed, The Roosevelt will exceed many of Leadership in Energy and Environmental Design (LEED) qualifications and meet Energy Star certification.
All units will be equipped with innovative sustainability features including solar panels, LED lighting, hybrid water heaters, Icynene spray foam in all exterior walls and ceilings for insulation and soundproofing, PEX plumbing, High SEER heat pumps, Energy Star Appliances, cool roof technology and more. Home automation technology will explore the areas of virtual assistants, energy management, security, locks, cameras, smoke detectors, electrical control, lighting and outdoor sprinklers. Smartphone applications will help control these aspects while in and out of the home.
Homes are being offered for approx. $450,000 – $500,000.
Caliber has worked on many projects in the Valley, such as The Eclipse, a zero energy ready multifamily project. Caliber is also working at redeveloping several retail spaces in downtown Mesa.