By AZRE | AZ Big Media
High Street Residential, the residential subsidiary of Trammell Crow Company, and its partner, Principal Real Estate Investors, have completed the construction of Gramercy Scottsdale, a luxury 160-unit multifamily development in the heart of Downtown Scottsdale, Arizona. The five-story Class A building sits on two acres of land just north of the Scottsdale Road and Camelback Road intersection. Resident move-ins began in May and the building is now 15% leased.
“We are thrilled to have been able to deliver this unique multifamily project to the community of Downtown Scottsdale, where there has been a lack of new supply when it comes to high-quality, luxury residential product. The demand for this type of housing is deep, evidenced by our strong initial leasing numbers, and we believe will continue to increase,” said Paul Tuchin, Principal of High Street Residential’s Phoenix office. “Gramercy Scottsdale benefits from tremendous walkability to all of the great dining and entertainment options in Downton Scottsdale and offers great access to the rest of the Phoenix metro area.”