RCP Companies officially broke ground on Wellory Living, a $108 million aspiring net zero energy multifamily development. RCP companies worked in conjunction with Pinnacle Financial Partners and Grounded Capital Partners in bringing this forward-thinking development to the market. The project is located at the corner of Old Monrovia and Stax Street at MidCity District in Huntsville.
“Wellory Living is a first-of-a-kind intentional play around environmental sustainability and wellbeing for Huntsville residents. Not only will it have a lighter environmental footprint to build, but it will also have a much lighter footprint to operate, saving money while conserving at the same time. We are leveraging a proven trend in large cities across the world to increase the function and the wellbeing of MidCity residents.”Remy Gross, RCP Companies Co-Founder
Wellory Living is the second multifamily project to break ground over the past 6 weeks at MidCity District and the 4th active multifamily development at the Huntsville megaproject. This brings the total residential unit count to 1,198. Here’s the quick rundown:
- What’s Now: Cleared Site.
- What’s Next: Mixed-use Development
- Developer: RCP Companies / Grounded Capital Partners
- Financing: Pinnacle Financial Partners
- Architect: Lord Aeck Sargent
- Contractor: ARCO Murray
Establishing a net zero energy status and reduced carbon footprint are intentional measures the company made as the industry continues to trend towards net zero and sustainable living. Situated on 4.2 acres, the development is projected to be an all-electric building and will feature 328 apartment units, more than 13,000 square feet of ground floor retail, a roof-level lounge and outdoor terrace. By using a mix of onsite renewable energy, electrification and deep efficiency measures it will generate as much renewable power as it uses.
“For us, a development like this is looking at how a project serves the community. How we build the buildings, how it serves the residents, the retail tenants, the office space, and ultimately, how it all forms together.”Stephen Hohenrieder, CEO and Founder of Grounded Capital Partners
According to the EPA, Net Zero means consuming only as much energy as is produced, achieving a sustainable balance between water availability and demand, and eliminating solid waste sent to landfills. There are a few strategies, approaches that can be use to achieve. According to the developer, some of the approaches the development will leverage through the design to achieve net-zero energy operation includes:
- Reflective roofing
- Reduced air leakage
- Energy Star appliances
- High performing HVAC systems
- Smart thermostats and technology
“Supporting quality of life initiatives helps build stronger communities that allow for more people to prosper, and when that happens, everyone wins. This partnership will make a significant positive impact on the community with Pinnacle’s brand of distinctive service and effective advice.”Jason Baldwin, Pinnacle Financial Partners Regional President for Huntsville.
Construction is set to begin early 2023 with full project completion expected by summer 2025. RCP plans to release more project details and renderings throughout project construction. For more information, visit MidCityDistrict.com.
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