Alta Raintree. Picture courtesy of Wooden PartnersAfter having earlier success in Scottsdale, Ariz., Wooden Companions has begun development on one other multifamily neighborhood, Alta Raintree, within the metropolis. The multifamily developer is scheduled to open its newest 385,000-square-foot challenge within the fall of 2021.
Alta Raintree may have 330 items in one-, two- and three-bedroom floorplans that common 960 sq. ft and are outfitted with self-closing cabinetry, keyless entry and in-unit washer and dryers with some items providing double ovens. Tenants may even get entry to a health heart with yoga house and pool space, sport room, speakeasy, rooftop deck and clubhouse.
Clay Richardson, managing director at Wooden Companions, stated in ready remarks that Alta Raintree will attraction to these on the lookout for a handy location in Scottsdale that’s near employers, retail, nightlife and outside actions.
Situated at 8688 E. Raintree Drive, the neighborhood may have entry to North Scottsdale’s employment base that has greater than 86,000 jobs with main employers within the space like Nationwide, GoDaddy, Vanguard, JDA Software program, Mayo Clinic, HonorHealth, Prudential, American Categorical and CVS Well being. Alta Raintree may even be positioned close to outside leisure areas like Camelback Mountain, McDowell Mountain Regional Park and native golf programs.
PREVIOUS SUCCESS IN ARIZONA
Previous to Alta Raintree, Wooden Companions accomplished its Alta Drinkwater neighborhood in 2019 that was additionally positioned in Scottsdale. The developer offered the multifamily property for $96.2 million to Starwood Actual Property Earnings Belief in December of that yr.
Elsewhere within the state, Wooden Companions was additionally in a position to promote its 223-unit neighborhood in Phoenix to Weidner Condominium Houses in January. The developer accomplished the property in 2019 earlier than promoting it for $61.1 million.