HUNTSVILLE – RCP Companies has teamed with Grounded Capital Partners on a net zero energy residential development in Huntsville’s MidCity District.
Wellory Living, a $108 million multifamily development, will be the first of its kind in the Southeast. The company said the project will bring sustainable living and dining options with a net zero energy status and reduced carbon footprint.
“We are constantly evaluating and re-imagining the community’s needs so we can attract first-to-market innovative solutions that lead Huntsville into the future,” said RCP coo-founder Remy Gross. “What would it look like to live well and live good?”
He said Wellory Living will use solar photovoltaic panels, reflective roofing, greatly reduced leakage and waste, smart thermostats and more.
“There are several categories within operational sustainability that we are addressing,” Gross said. “Landscaping, construction waste management, tenant engagement – to bring us to net zero.
“Even Wellory’s construction and design uses low carbon materials and design concepts, bringing both environmental and health benefits to tenants and guests to live in a sustainable manner.”
In other words, Wellory Living is projected to be an all-electric building.
Net zero energy buildings generate as much renewable power as they use. The building combines on-site renewable energy, electrification, and deep efficiency measures to reduce its carbon footprint.
More than 40,000 square feet of PV panels comprise the Wellory Living roof, generating power every day.
“As an investment firm rooted in building the health of systems, it was a natural fit for us at Grounded Capital to be part of bringing this net zero development to MidCity and play a role in supporting regenerative social, ecological and financial systems in Huntsville,” said Parren James, principal at Grounded Capital. “Wellory Living will showcase how sustainable living is achievable for all looking to decrease their carbon footprint.”
The six-story development sits on 4.2 acres at the corner of Old Monrovia Road and Stax Street. It will feature 328 apartment units; 13,582 square feet of ground floor retail and coworking spaces; a roof-level lounge; and an outdoor terrace with district views.
“Wellory Living captures Huntsville’s innovative, forward-thinking nature,” said Mayor Tommy Battle. “RCP has done a great job at bringing housing options to the city that are as bold as the people of Huntsville.
“MidCity District continues to showcase our city as a true destination for top talent to live, work and play.”
Pinnacle Financial Partners provided debt financing. Lord Aeck Sargent is the lead architect and ARCO Murray is the general contractor for the Wellory Living project.
Construction is set to begin in early 2023 with completion expected by summer 2025.