FivePoint Developing Net-Zero Community in Valencia
A new net-zero housing development by FivePoint is coming to Valencia, California. The new community will have more than 21,000 homes and will be the largest net-zero community in the country.
According to an article by Diana Olick, the development is a long time coming. Plans for the community began 20 years ago, but quickly began facing legal battles, but finally, it is coming into fruition.
“The environmentalists have been stopping development in this community for literally decades and forced them into almost building a net zero and completely energy efficient community, and now millennials and everybody have shifted to wanting that,” said John Burns, CEO of John Burns Real Estate Consulting.
The development will have “about 21,500 homes on 15,000 acres, built by big names like KB Home, Lennar, Toll Brothers and Tri Pointe,” according to Diana Olick for CNBC.
The development will contain affordable housing, multifamily units and commercial spaces, alongside parks and other green spaces.
The community will include solar panels on every home, electric charging stations in garages, high-performance attics and more.
“It was really an attempt to change the paradigm and turn the debate with the environmental community from across the table to let’s sit on the same side of the table and see if we can find ways to move forward,” said Emile Haddad, CEO of FivePoint. “We need to evolve with the world, and I believe that this will be a step forward.”
