After 20 years of legal battles, FivePoint Valencia has broken ground and is building toward a history-making competition—the country’s largest net-zero development.
FivePoint Valencia will eventually have 21,500 homes across 15,000 acres, consisting of single family, multifamily units and affordable housing. Builders including KB Home, Lennar, Toll Brothers and Tri Pointe are leading on construction. The development will also boast commercial space, as well as park areas and green spaces.
And all will be constructed by leaving no carbon footprint.
CNBC caught up with the developers to learn how a project of such scale can be done in an eco-conscious manner. In part, the developers say it’s about what can be done in other parts of Southern California.
In addition to earning carbon credits through several other projects, FivePoint is launching a methane capture program at a California dairy farm and installing rooftop solar in lower income areas of Los Angeles County. FivePoint also acquired the state’s 170-acre Pine Creek Forest, adding a permanent conservation easement.
As for the soon-to-be constructed homes and the development at large, expect a host of solar panels and electric vehicle chargers. There will also be geothermal exchange technology to heat pools and rainwater recycling for irrigation. CNBC also notes that each home will have a high-performance attic that reduces the need for air conditioning, heating and ventilation.
Homes prices are expected to start around $400,000 and go up to a bit over $1 million.
For more on how the developers are working to leave no footprint behind, head to CNBC here.