As the calendar turns from 2019 to 2020, the folks at Caliber Development are starting to see the fruits of their Opportunity Zone labor ripen. In 2019, the company launched a pair of Opportunity Zone projects, one in Tempe and one in Phoenix, along with other valuable work throughout the Valley that should be completed by the end of 2020.
Here’s a look at three of those projects, including the companies first development in the city of Tempe:
Located at 233 S. Roosevelt St. in Tempe, Caliber’s first development in Tempe will bring a total of 41 units to the market. Caliber was wrapping up construction on Phase I, which consists of 14 units, in December and had 19 more units planned for Phase II and eight units planned for Phase III. Phase II will also consist of a Community Pool and BBQ gathering area.
The Roosevelt is a zero energy ready townhome community located in Downtown Tempe’s Opportunity Zone. It is situated on a two-acre property near 2nd Street and Roosevelt, the development is within a short walk to the Farmer Arts District and on one of the last remaining sites in the highly desirable and coveted location near Mill Ave. The Roosevelt will be a leader in urban sustainability for the region.
The townhomes will showcase 2 bedrooms, 2-1/2 bath townhome models with over 1,800 feet of living space and the latest in energy efficiency/green initiatives and home automation.
“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, Chief Development Officer. “The Roosevelt will fulfill the heightened demand from renters 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 renter seeking a live-work-play lifestyle.”
Medical Behavioral Health Hospital of Phoenix
Acquired by Caliber August of 2019, this 96-bed behavioral health facility located near downtown Phoenix in an Opportunity Zone at 1328 E. McDowell. Originally purchased for $12 million, the hospital anticipates a complete renovation worth $9.5 million done by Caliber Construction and Development. The neuropsychiatric hospital is expected to be completed by 2020 and is expected to bring 80 high-income jobs into the area.
The 62,592 square foot facility will care for patients struggling with medical and psychiatric conditions. Dr. Cameron Gilbert, CEO and his team will operate the hospital, he has four other neuropsychiatric hospitals and will continue to expand in the future.
Carlotti Center for Surgery, Aesthetics, Skin Care
Another of Caliber’s 2020 projects isn’t in an Opportunity Zone, but is in a very high-demand market. Caliber is transforming the space at 19120 N. Pima Rd., Suite 120 in Scottsdale into a 3rd Party Medical Office and Ambulatory Surgery Center (ASC). The 4,724 square foot space will undergo a complete tenant improvement to include patient rooms, procedure rooms, surgery suite, recovery suite with nurse station, conference breakroom and panoramic x-ray machine.
This State-of-the-Art Medical Office with ASC is conveniently located off the 101 & Princess Pima Rd. Albert Carlotti, MD and Michelle Carlotti, MD, DDS are renowned Plastic Surgeons who practice in Scottsdale part-time. They realized a need for an ASC in North Scottsdale due to two surgery centers in the area that closed. The Carlotti’s will serve their patients for 2-3 days a week and will allow for other surgeons to utilize the facility for the remainder of the week.
The Carlotti Surgery Center will bring in at least 20 high paying jobs and provide an outpatient surgery center for North Scottsdale patients and physicians.