High Street Residential (HSR), the residential subsidiary of Trammell Crow Company (TCC), and JV partner Mitsui Fudosan America (MFA) have broken ground on a 215-unit, Class A, luxury residential community in Scottsdale, Arizona.
The three-story residential building will feature Spanish-style architecture along with rich amenity offerings, including multiple outdoor courtyards, a dog park, a private yoga and fitness studio, a resort-style pool and spa, a sauna, and an expansive work-from-home space with private offices. Residents will have the choice of one- and two-bedroom units outfitted with high-end interior finishes, including custom cabinetry, quartz countertops, upgraded tile and flooring, wine refrigerators, and premium appliances.
“We are thrilled to bring another best-in-class residential community to the City of Scottsdale,” said Paul Tuchin, TCC’s Phoenix Market Leader. “Central Scottsdale has been underserved with new quality housing despite its great schools, healthcare facilities, and retail amenities. This new development will help fill the gap, providing residents with premium housing in one of the Valley’s best places to live.”
Ideally located on Scottsdale Road between Old Town and North Scottsdale, the project will connect residents to the best local amenities in the Valley. Shea Boulevard will provide residents direct access to Loop 101 and SR-51, connecting them to employment hubs throughout the metro. The residential community will sit within walking distance of nearly two million square feet of retail, shopping, and dining options, in addition to being just a short drive to Kierland Commons, Scottsdale Quarter, and Scottsdale Fashion Square.
The project has been designed by ESG Architects, and Wespac Construction is acting as the general contractor.
In the last 15 years, HSR has completed over $4 billion in projects. With professionals throughout major U.S. cities and in London – through our U.K. subsidiary Telford Living – we serve occupiers and investors in mixed-use and multifamily properties. HSR builds sustainable properties that generate long-term economic benefits through timeless design, superior functionality, and smart technology. Every development is rigorously vetted by our investment committee, and the company employs a conservative capital structure to mitigate risk. As an independently operated subsidiary of CBRE, the world’s largest real estate services firm, HSR enjoys ready access to the nation’s top project execution teams and transaction advisors, the industry’s strongest balance sheet, an unparalleled technology platform, and world-class proprietary research.
Mitsui Fudosan America, Inc. (MFA) is the US subsidiary of Japan’s largest real estate company, Mitsui Fudosan Co., Ltd., a publicly-traded company with approximately $70 billion of assets. MFA is responsible for Mitsui Fudosan’s real estate investment and development activities in North America, and is headquartered in New York, with branch offices in Washington, DC; Dallas; San Francisco; Los Angeles; and Honolulu. MFA has been active in the United States since the 1970s, and currently owns assets in the New York; Washington, DC; Boston; Atlanta; South Florida; Nashville; Houston; Denver; Dallas; Seattle; San Francisco; Los Angeles; and Honolulu metropolitan areas. MFA’s US portfolio includes 10.0 million square feet of commercial space, 3.8 million square feet of commercial space under development, 4,100 residential apartments, 7,100 additional rental units under development, 250 condominiums under development, and 753 hotel rooms.
