Arizona’s luxury real estate offering will reach new heights when 41 bespoke Fendi Private Residences break ground later this year.
As the company’s first ground-up residential enclave in North America, the designer block of homes will be the first official tenant of The Palmeraie – a 122-acre, US$2 billion uber-luxe development in Scottsdale.
With delivery expected by the end of 2020, each residence is an expression of Fendi as a complete lifestyle, and will average 325 square metres with private access to The Palmeraie’s impressive amenity offering.
All design and architecture will be led by Italian architect Marco Costanzi, who previously worked on Fendi Private Suites and Fendi headquarters in the Italian city.
Now under construction by Five Star Development, The Palmeraie will also include a 215-room Ritz-Carlton Resort, a collection of lavish Ritz-Carlton Residences, and endless high-end retail, wellness and dining options that are said to rival Rodeo Drive.
“The world’s global leaders in fashion and culinary are taking notice of what we are creating here at The Palmeraie and Scottsdale’s emergence as a key, important strategic global destination,” says Five Star Development President and CEO Jerry Ayoub.
Sitting right next door to Paradise Valley – Arizona’s most affluent and desirable area – the 18-acre block is set against the spectacular backdrop of Camelback Mountain and the iconic Sonoran Desert.
The Palmeraie’s modern architecture will feature diverse textures, vibrant colours and unexpected shapes set among lush landscapes and soaring palm trees.
“The vision for The Palmeraie is one of elegance and of being fun. 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 luxury merchant mix and on-site experiences.
“Scottsdale has one of the largest primary home markets in the US that is further complemented by year-round international tourism and one of the most significant secondary homeownership markets in the US,” she continued.
“It is a destination that is being prioritised on the worldwide stage.”
Fendi’s branded residences follow in the footsteps of other Italian brands including Armani, Versace and Missoni – all of which have expanded their reach into the lifestyle sector with luxury residences.
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