TEMPE, AZ—A new community, The Roosevelt, is Tempe's first green solar townhome development designed to achieve net zero energy by leveraging the latest in building materials and sustainable technology. This creates a home that reduces the environmental footprint with little to no utility-supplied energy.

The 32-unit townhome community has broken ground, according to Caliber. The expected completion date for phase I (14 units) is spring 2017. Phase II (18 units) has an expected completion date of winter 2017. A waiting list has already started. The Roosevelt is Caliber's first development project in Tempe.

“The city of Tempe is excited to have Caliber in our community,” said Tempe mayor Mark Mitchell. “We've long been a community dedicated to sustainability, and this development will give residents who want to live in a net zero sustainable environment a real option. This new development is also just off our downtown and will give residents access to our urban core, public transportation, and of course, to amazing shopping and restaurants.”

Caliber is partnering with MODUS Development, a Phoenix-based real estate developer known for pioneering net zero energy and sustainable projects in Arizona and California. Each home is designed to exceed Leadership in Energy and Environmental Design standards (LEED) and meet Energy Star certification.

While adding value to the residences, net zero energy status is achieved using sustainable technology. 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 and cool roof technology.

“The Roosevelt is a one-of-a-kind development project that marries important aspects of investor value creation while being on the forefront of innovation. This project allows us to move forward and become an environmental steward at a time when the entire nation is seeking a more sustainable future. It will be inspiring to see this net zero energy project become a reality and create a community where residents share a commitment to do their part to reduce their environmental footprint. We see this as the first of many opportunities to partner with MODUS and drive additional sustainable projects,” says Chris Loeffler, CEO and co-founder of Caliber.

The two bedroom, 2-1/2 bath townhome models (with variations) will be offered for approximately $450,000 to $500,000, and feature more than 1,800 feet of living space, large recessed windows, a deck and a two-car garage. The Roosevelt is located on a two-acre property 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 Avenue (Second Street and Roosevelt).

Loeffler tells GlobeSt.com: “The Roosevelt unites the latest in urban planning, design, construction, sustainability and technology. To bring this forward-thinking, net zero energy project to the progressive community of Tempe is an honor. We believe The Roosevelt will elevate the standards for what value-add, green living developments like this will be in the future.”

The Roosevelt project was purchased in partnership with the Caliber Distressed Real Estate Income Fund. Leading the project is Caliber's executive vice president of development, Roy Bade, with 31 years of development experience. MODUS Development, led by Ed Gorman, is a co-developer and zero energy design partner.

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Instant Insights /

First Net Zero Energy Townhomes Get Underway

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