World’s Largest Indoor Pickleball and Padel Facility Files for Building Permits
Rhea-AI Summary
Caliber (NASDAQ: CWD) has achieved a significant milestone in its joint venture development, PURE Pickleball & Padel™, with the submission and acceptance of construction documents by Salt River Pima-Maricopa Indian Community. The project involves building the world's largest indoor pickleball and padel facility, spanning 196,726 square feet.
The facility, located in the Talking Stick Entertainment District near Scottsdale, will feature a 1,200-seat pro arena, 40 indoor pickleball courts, and 8 indoor padel courts. Additional amenities include a Wolfgang Puck restaurant, HonorHealth™ fitness center, pro shop, and rooftop patio. Construction is expected to take approximately 15 months, with the facility projected to attract 500,000 annual visitors.
The project is funded through the Pickleball at Riverwalk Fund, accepting investments from accredited investors and qualified opportunity zone funds (QOFs).
Positive
- Development of world's largest indoor pickleball and padel facility spanning 196,726 square feet
- Strategic location in Talking Stick Entertainment District with projected 500,000 annual visitors
- Premium partnerships with Wolfgang Puck Catering and HonorHealth™
- Investment opportunity structured as a qualified opportunity zone business (QOZB)
- Project targets fastest-growing sports markets in the United States and globally
Negative
- Significant construction timeline of 15 months before revenue generation
- Large-scale project carries execution and construction risks
- Investment limited to accredited investors and qualified opportunity zone funds
News Market Reaction 13 Alerts
On the day this news was published, CWD declined 9.60%, reflecting a notable negative market reaction. Argus tracked a trough of -13.8% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $23M at that time.
Data tracked by StockTitan Argus on the day of publication.
Construction Documents Have Been Submitted, and Accepted for Caliber’s Joint Venture Development, PURE Pickleball & Padel
SCOTTSDALE, Ariz., Sept. 29, 2025 (GLOBE NEWSWIRE) -- Caliber (NASDAQ: CWD), a diversified real estate and digital asset management platform, today announced that its joint venture development, PURE Pickleball & Padel™ (“PURE”) Construction Documents are complete, submitted, and accepted for review by Salt River Pima–Maricopa Indian Community (SRP-MIC) on September 12, 2025. The milestone marks the start of PURE's building permitting process, the final step before construction begins on the 196,726-square-foot facility, which is expected to take about 15 months.
PURE has chosen DAVIS, a Phoenix-based architectural firm, to design a unique indoor facility and state-of-the-art venue for players and spectators to gather and enjoy pickleball and padel year-round. It will combine a professional arena, community courts, and country club amenities including a restaurant and bar, pro shop, and private VIP areas.
PURE selected RICK in Phoenix for engineering, planning, landscape architecture, and land surveying services. Jeff Hunt, PE, Associate Principal at RICK, expressed enthusiasm about supporting the engineering team for a 200,000 sq. ft. sports and entertainment facility expecting around 500,000 annual visitors.
PURE Pickleball & Padel™ is developing an 11+ acre site in the Riverwalk Development Project located in the Talking Stick Entertainment District, a 100-acre site adjacent to Scottsdale. PURE will be a world-class pickleball and padel facility and pro arena and seeks to claim the title of the largest indoor pickleball and padel facility in the world. The 196,726 square feet state-of-the-art facility will boast a 1,200-seat pro arena, 40 indoor pickleball courts, 8 indoor padel courts, sports performance and recovery fitness center by HonorHealth™, restaurant and bar by Wolfgang Puck Catering, pro shop, locker rooms and spa, special event spaces, rooftop patio and bar, meeting spaces, childcare and other amenities.
Chris Loeffler, CEO of Caliber, said, “We are excited by the continued progress that is being made to realize the vision for PURE Pickleball & Padel™ as a premier destination for the sport’s enthusiasts and a lifestyle development that improves the lives of the people in the community.”
For developing PURE, Caliber created the Pickleball at Riverwalk Fund, a single asset offering designed to invest in real estate, land sublease, and business operations. This offering is active and allows for direct investment from accredited investors as well as qualified opportunity zone funds (QOFs) seeking to allocate capital to a potentially attractive qualified opportunity zone business (QOZB). Caliber has designed the offering for broad participation, seeking Pickleball & Padel enthusiasts who are looking for exposure to the two fastest growing sports in the United States and the World.
For more information on the project, visit Caliber’s website.
Photo 1: Exterior Rendering of PURE
Photo 2: Interior Rendering of PURE Championship Court
Photo 3: Interior Rendering of PURE Pickleball Courts
Photo 4: Interior Rendering of PURE Paddle Courts
About Caliber (CaliberCos Inc.)
Caliber (Nasdaq: CWD) is a diversified alternative asset manager with over
About PURE Pickleball & Padel
PURE Pickleball & Padel has partnered with Caliber to build the world's largest indoor pickleball & Padel facility and pro arena in Scottsdale, Arizona. The 196,726 square feet state-of-the-art facility will boast 48 indoor courts (40 Pickleball and 8 Padel), a 1,200-seat pro arena, along with country club level amenities that include a sports performance and recovery fitness center by HonorHealth™, restaurant and bar by Wolfgang Puck Catering, VIP lounge, office space, childcare and teen room. PURE is a member-focused, program-driven concept that will connect the two fastest growing sports in the world with the Scottsdale community across all ages, skill levels, and backgrounds. With an estimated 500,000 visits annually, the facility plans to host the largest pickleball/padel tournaments in the world.
About DAVIS
Founded in 1991, DAVIS is a Phoenix-based architecture, interiors, and urban design firm with more than 33 million square feet designed and built. Our expertise spans mixed-use, office, retail, hospitality, multifamily, and senior living environments—projects that have defined Greater Phoenix for nearly four decades. Led by founder and CEO Mike Davis, our team blends creativity with commercial insight to deliver spaces that lease quickly, perform long-term, and consistently achieve top market value. Guided by our Life in Place® philosophy, we create environments that are purposeful and dynamic—places that don’t just function, but truly come alive.
About RICK
RICK (formerly referred to as Rick Engineering Company) started as a family-owned engineering, planning, and design firm more than 70 years ago. Though we have grown our employee base and expanded geographically, we have proudly maintained our close-knit, people-oriented company culture. Our in-house teams, staffed by industry-leading experts in their respective fields, work seamlessly together to offer our clients comprehensive services they can trust.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the Company’s public offering filed with the SEC and other reports filed with the SEC thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
CONTACTS:
Caliber Investor Relations:
Ilya Grozovsky
+1 480-214-1915
Ilya@CaliberCo.com
PURE Pickleball & Padel
Kevin J. Berk – Co-Founder & CEO
+1 480-861-7474
Kevin@purepickleball.com
DAVIS Architecture
Will Craig
Wcraig@thedavisexperience.com
RICK Engineering
Jeff Hunt
jhunt@rickengineering.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/75eee293-5519-49f3-b906-c4441d6381f9
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c1b7809-4983-4911-963d-1585e89cf558
https://www.globenewswire.com/NewsRoom/AttachmentNg/7e9f7830-3f67-4978-b371-9a53e656b3eb
https://www.globenewswire.com/NewsRoom/AttachmentNg/56ddd1ad-d78a-4d9b-bac6-65aaea91f82e
FAQ
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