MidCity Announces New $108M Multifamily Development

HUNTSVILLE, Ala. – RCP Companies announced a new net zero energy residential development, Wellory Living, to MidCity District. The $108 million multifamily development will be located on the corner of Old Monrovia and Stax Street, bringing future forward, sustainable living and dining options to the area – all 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 Co-Founder Remy Gross.

“What would it look like to live well and live good? Wellory Living aims to have a net zero impact through solar cell photovoltaic (PV) panels, reflective roofing, greatly reduced leakage and waste, smart thermostats and more. There are several categories within operational sustainability that we are addressing – 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.”

Net-zero energy buildings generate as much renewable power as they use, using a mix of onsite renewable energy, electrification and deep efficiency measures to reduce its carbon footprint. Over 40,000 square-feet of the Wellory Living roof is PV panels, generating power every day.

Wellory Living’s design takes a dynamic approach to sustainability prioritizing continued reduction in impacts during construction, and operations moving forward. It is projected to be an all-electric building.

Grounded Capital Partners has partnered with RCP Companies to bring this market-leading concept to Huntsville and across the southeast.

“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 situated on 4.2 acres will feature 328 apartment units alongside 13,582 of ground floor retail. The development will also include co-working spaces, roof-level lounge, and an outdoor terrace with views of the MidCity district.

“Wellory Living captures Huntsville’s innovative, forward-thinking nature,” said Huntsville 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 for Wellory Living. Lord Aeck Sargent is the lead architect and ARCO Murray is serving as the general contractor for this project.

Construction is set to begin winter 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.