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High Street/PGIM JV Launches Resi Portion of North Scottsdale MXU
High Street Residential (HSR), the residential subsidiary of Trammell Crow Company (TCC), and joint venture partner PGIM Real Estate have broken ground on Raintree Multifamily, a 192-unit residential community in Scottsdale, AZ. The new development is slated for completion in 2023.
The project, which will complete the mixed-use Raintree master-plan, is situated next to TCC and PGIM’s 175,000-square-foot Axis Raintree office building, which was finalized in January 2021. A formal name for the multifamily development will be announced as construction progresses.
TCC/HSR and PGIM purchased the entire 8.24-acre parcel in 2019 and launched construction on Axis Raintree in October of that year. CBRE is leasing agent.
“The North Scottsdale submarket has strong demographics and attracts a variety of residents,” said Paul Tuchin, principal with HSR’s Phoenix office. “We believe that our unique design and expansive collection of amenities will appeal to renters looking for unmatched, high-end housing in this area.”
- ◦Development
