Enters The Valley Real Estate Market
Fendi is expanding its Roman empire to Scottsdale. The luxury fashion house plans to build a collection of 41 bespoke Fendi Private Residences within The Palmeraie, a $2 billion luxury development located at Scottsdale and Indian Bend Roads.
Above: Fendi, the Italian luxury brand, plans to design and build 41 private residences within The Palmeraie development located at Scottsdale and Indian Bend Roads.
The residences will come to market later this year and be completed in 2020. Spearheaded by architect Marco Costanzi, who previously worked on the stylish Fendi Private Suites and trendsetting Fendi headquarters in Rome, each home will average 3,500 square feet.
Private branded residences have become something of a recent trend. Fendi follows in the footsteps of other Italian fashion brands, such as Armani, Versace and Missoni, that have been expanding further into the lifestyle category with luxury residences.
In February Fendi revealed its commitment to build its first ground-up residential enclave in North America within The Palmeraie. No doubt Scottsdale’s ranking as one of the largest primary and secondary home markets in the U.S. played an important factor in the Italian brand’s decision.
Fendi Private Residences is the first official tenant of the 122-acre project. Set against the backdrop of Camelback Mountain, the Five Star development will open in phases, beginning with 160,000 square feet of high-end, mixed-use space located on 18 acres.
Above: The Palmeraie will offer luxury boutiques and restaurants as well as relaxation and wellness services.
“The vision for The Palmeraie is one of elegance and of being fun, with a sense of energy and surprise — and equally as important, the ability to evolve. It facilitates discovery and exploration — a destination that is essentially an activation where the shopping is experiential, not solely transactional,” said Hanna Struever, principal of Retail Portfolio Solutions, the company curating the merchant mix, dining venues and special experiences.
The long-range plan is for about 250,000 square feet of retail space to include luxury and specialty boutiques, restaurants as well as relaxation and wellness services, all in an open-air environment. The extensive landscape will be lush with planted green walls, vine-covered trellises, focal water gardens, flowering evergreens and palm trees.
According to the developer, The Palmeraie will be designed to create a series of indoor and outdoor spaces and vignettes blurring the lines between architecture, landscape and human interaction with a series of interconnected experiences linked together across the entire district.
For information on The Palmeraie, visit https://www.thepalmeraie.com/
To learn about Fendi Private Residences, register at https://fendiresidencesaz.com/