Wood Partners Opens Luxury Community in Scottsdale
The 330-unit property is situated in one of the most coveted residential areas of metro Phoenix.
Alta Raintree. Image courtesy of Wood Partners
Wood Partners has celebrated the opening of Alta Raintree, a 330-unit luxury community situated in the northern part of Scottsdale, Ariz., one of the most sought-after residential areas in metro Phoenix.
The company began construction on the project in 2020, with an initial completion expected in the fall of 2021. Comerica Bank provided a $47.4 million loan for the development, Yardi Matrix data shows.
The five-story building encompasses a mix of one-, two- and three-bedroom floorplans, ranging from 695 to 1,685 square feet. Apartment features include stainless steel appliances, quartz kitchen countertops, electronic door entry, in-unit washer and dryer sets. Double ovens, vent hoods and wine refrigerators were added to select units.
Community amenities include a sky lounge with views of the McDowell Mountains, a pool with tanning deck and jacuzzi, an outdoor game courtyard, an on-site pet park, a fitness center featuring on-demand yoga, a meditation area, a Wi-Fi lounge, as well as a conference area, clubroom, on-site library and speakeasy. Urbo Market and coffee bar, Wood Partners’ on-site convenience market concept, will offer residents coffee, wine and gourmet snacks, among other offerings.
Located at 8688 E. Raintree Drive, close to the intersection with N. Northsight Blvd., the community is within walking distance of dining and retail options. Major shopping centers, such as Scottsdale Quarter are within 3 miles of the property. Alta Raintree is less than a mile south of Arizona 101 Loop, which connects it to downtown Scottsdale and Phoenix.
Wood Partners currently owns more than 70 properties across the U.S., totaling more than 20,000 units. Just last month, the company broke ground on two other projects, Alta Vale, a 306-unit community in Raleigh, N.C., and Alta Berry Creek, a 300-unit luxury development in Georgetown, Texas, both slated for completion in 2023.
