September 26, 2022 – Hilton has selected Caliber, a fully integrated alternative asset manager, as a recipient of the 2021 Hilton Development Award. This award recognizes the passion, creativity, and innovative spirit of Hilton’s partners who are committed to quality projects that exceed brand standards and have a positive impact on their local communities.
Caliber was selected for this recognition for their work spearheading the ground-up build of the DoubleTree by Hilton Tucson Downtown, the first and only hotel that is connected to the Tucson Convention Center, which opened in March of 2021. The construction and operation of the hotel has generated tax revenue and stimulated job creation in the area, and it is supporting the City of Tucson’s downtown re-visioning plan. It is also helping to meet growing demand for accommodations from visitors to Tucson from around the world.
“We are honored to be selected by Hilton for their Development Award, and even more honored to have been able to bring this hotel to Downtown Tucson and support its growing community and economy,” said Chris Loeffler, CEO of Caliber. “As a team, we are committed to driving economic development through our investment projects and providing our investors with opportunities for competitive returns. The success of this property, which authentically reflects the rich culture of the area, speaks to the dedication we have to that mission.”
The hotel is located in the Rio Nuevo District, a Tax Increment Finance District (TIF) that was approved in 1999 to invest in projects that expand the city’s tax base and bring people and businesses to downtown Tucson. Construction of the hotel created significant economic benefits for the community of Rio Nuevo and the impact is anticipated to extend into the years ahead. The project provided approximately 130 construction jobs and 80 indirect construction jobs. The hotel, along with its lobby, bar, and restaurant, currently is supporting about 100 jobs and 34 indirect jobs at other local businesses.
“Congratulations to the Hilton DoubleTree TCC Downtown and the Caliber Group on this recognition,” said Tucson Mayor Regina Romero. “The hotel and design team worked closely to honor the histories of the land while integrating the hotel into Tucson’s downtown…The Hilton team, in partnership with TCC management, are helping us add more capacity for leisure travelers and conference goers to experience our City. Together, we are building relationships with new artists and promoters, adding to the uniqueness of Tucson’s unique music, arts, and cultural scene.”
“Rio Nuevo was a critical partner to have in this development’s success and we owe a debt of gratitude for their contribution of the land as well as their efforts to facilitate important relationships with the Barrio and the City of Tucson,” said Roy Bade, chief development officer at Caliber. “I want to thank Fletcher McCusker, Chairman of Rio Nuevo, for the active role he played throughout the development phase.”
Caliber worked with local, Tucson-based companies to complete the key components of the hotel, including construction, design, and architecture. Ryan Companies served as the General Contractor that helped build the hotel, while Caliber served as Construction Manager and Developer. Swaim Architects served as the architecture team on the project and Within Studios led the interior design work.
The team pulled inspiration from the land and neighborhood around them, which is steeped in a long and storied history. The Barrio neighborhood in Tucson guided the design work by Florencia DeRoussel, Principal, Director of Design, at Within Studios, while all the artwork throughout the corridors of the hotel is from local Tucson artists. The art pieces in the rooms and throughout the hotel are meant to replicate geodes as a nod to Tucson hosting the largest gem show in the world.
The 104,316 square-foot hotel includes 170 rooms, four suites and one executive suite, and features several amenities including a second-story pool and bar, the full-service restaurant El Mezquite Grill & Taqueria, a coffee bar, and 4,000 square feet of meeting space.
Caliber, based in Scottsdale, Ariz., leads the market in providing individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments. The company builds wealth by forming and managing real estate private equity investments, either through individual assets or multi-asset funds. Caliber both acquires assets and takes on ground-up development projects.
For complete details visit www.caliberco.com.
Caliber is a leading vertically integrated asset management firm whose primary goal is to enhance the wealth of investors seeking to make investments in middle-market assets. We strive to build wealth for our investor clients by creating, managing, and servicing proprietary products, including middle-market investment funds, private syndications, and direct investments. Our funds include investment vehicles focused primarily on real estate, private equity, and debt facilities. We market our services through direct sales to private investors, wholesaling to investment advisers, direct sales to family offices and institutions, and through in-house client services. Caliber’s middle-market specialty allows the Company to compete with agility and speed in an evolving arena of alternative investments. Additional information can be found at Caliberco.com and CaliberFunds.co.