SCOTTSDALE, ARIZ. — High Street Residential and its joint venture partner PGIM Real Estate have broken ground on Raintree Multifamily, an apartment community in Scottsdale.
Slated for completion in 2023, the five-story residential building will feature 192 apartments. The new development, which will receive a formal name at a later date, is situated next to Trammell Crow Co. and PGIM’s 175,000-square-foot Axis Raintree office building that was completed in January 2021. High Street Residential is a multifamily subsidiary of Trammell Crow.
Units at the multifamily property will range in size from junior one-bedrooms to two-bedrooms and feature built-in workstations in select homes, quartz countertops, stainless steel appliances and large outdoor patios. Community amenities will include a sky lounge, an outdoor courtyard, a large amenity park with dog run, work-from-home area with ample individual workspaces, pool, spa, fitness center and pet lounge.
ESG Architects is serving as architect and Weitz Co. is serving as general contractor for the residential portion of the development.
High Street/Trammell Crow and PGIM purchased the entire 8.24-acre parcel of land in 2019 and began construction on Axis Raintree in October 2019. The office building is complete and available for lease, with CBRE marketing the asset.