As the first project under its second Opportunity Zone fund, Caliber Companies is pursuing plans for a mixed-use project on 78.6 acres near the Salt River Pima-Maricopa Indian Community Talking Stick Resort and other developments.
The company is currently working to close a land lease on the site that would set it as the master developer for The Riverwalk Development. Caliber is gathering feedback from SRPMIC and Scottsdale residents to determine the best mix of uses. Company officials said a likely combination includes entertainment uses on the south portion of the land near Topgolf and a sports use and corporate office/innovation campus to the north.
They expect the lease to close soon. Caliber will finance the land acquisition with remaining capital from its first fund. The second fund launched last month and is expected to raise capital over the coming two years. (Source)