Illustration of the new property in central Oxelösund, Sweden. Credit: Arkinova/ NCC.

High Street Residential (HSR) has broken ground on Raintree Multifamily, a new multifamily residential community in Scottsdale, Arizona, US.

The company is a residential subsidiary of commercial real estate developer Trammell Crow Company (TCC), and joint venture (JV) partner of PGIM Real Estate.

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Situated on a 3.2-acre site, the new five-story residential development will feature 192 units ranging in size from junior one-bedrooms to two-bedrooms.

It will also include built-in workstations in select homes, stainless steel appliances, quartz countertops, along with large outdoor patios.

The development will feature amenities including a large amenity park with dog run, a pool, a pet lounge, an outdoor courtyard, a spa, a fitness centre, and a fifth-floor Sky Lounge.

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A work-from-home area with ample individual workspaces will also be included in Raintree Multifamily.

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HSR Phoenix office principal Paul Tuchin said: “We are excited to begin construction on Raintree Multifamily, which will complete the mixed-use Raintree master-plan and deliver much-needed housing to North Scottsdale.

“The North Scottsdale submarket has strong demographics and attracts a variety of residents. We believe that our unique design and expansive collection of amenities will appeal to renters looking for unmatched, high-end housing in this area.”

The company stated that the new residential building will be located beside TCC and PGIM’s 175,000ft2 Axis Raintree office building that was completed in January last year.

Slated to complete in 2023, the development offers direct access to the Loop 101 freeway, multiple employment opportunities in the immediate area along with walkable retail amenities across the street.

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Illustration of the new five-story residential building in Scottsdale, Arizona. Credit: High Street Residential.