Caliber Companies is planning a 12-building, 144-unit apartment development on 2.5 acres in Mesa.
Commons of Mesa will be located on 2nd Avenue between Robson and MacDonald streets. The proposed mix is 48 one-bedroom and 96 two-bedroom units.
Caliber is positioning the proposal as workforce affordable and plans to develop it under the Caliber Opportunity Zone Fund. The company is raising $9M in equity and will take on a $32.5M U.S. Department of Housing and Urban Development construction loan. Caliber will co-develop Commons of Mesa in partnership with Cardinal Capital Management. (Source)