Month: March 2022

PORTLAND, Ore. , March 31, 2022 /PRNewswire/ — Leading multifamily real estate developer Wood Partners announced today the official grand opening of its latest luxury residential community, Alta ART Tower, located in Portland’s rapidly growing Goose Hollow neighborhood.

The new community is located at 1510 SW Alder Street, adjacent to the Artist Repertory Theatre (ART), which plans to offer special programming and experiences specifically for residents, guests, and prospects. The community is also neighbors with Providence Park, home of the Portland Timbers and Portland Thorns Football Clubs. Residents will have easy access to top retail, dining and entertainment establishments in some of Portland’s most highly coveted neighborhoods including the Pearl District, the West End, Downtown, and the Alphabet District. The premier location is also accessible to more than 100,000 jobs from top employers including Weiden+Kennedy, US Bank, Airbnb, and Nike.

“We are thrilled to welcome residents to Wood Partners’ latest community—Alta ART Tower—centrally located near several of Portland’s most popular and sought-after neighborhoods,” said Michael Nagy, Managing Director at Wood Partners. “Our top-of-the-line community seamlessly blends art, community and high-end living unlike any other residential property in the Pacific Northwest and provides residents with a prime location to explore and call home.”

Alta ART Tower offers 314 apartment homes consisting of one-, two- and three-bedroom floor plans, with awe-inspiring high-rise views of Portland from the property’s penthouse terrace. These 314 apartment homes will include 14 affordable units at 60% AMI in partnership with the City of Portland’s inclusionary housing program. Each unit features modern architectural finishes complete with top-quality interior packages, multiple interior color schemes and floor-to-ceiling windows. Key features within each home include stainless steel appliances, luxurious exposed concrete ceilings, walk-in showers and soaking tubs, solar shades, and walk-in closets with custom closet systems to create a unique and elegant atmosphere for residents.

Residents of Alta ART Tower will find artistic inspiration throughout the property’s exceptional community amenities, including a penthouse lounge and terrace, a grand lobby, an art gallery, performance stages, an enclosed sound and karaoke room, and a co-working lounge. The property is also outfitted with an on-site fitness center and bike repair station with secure parking and storage for residents’ bikes.

Alta ART Tower is managed by Wood Residential. Visit https://altaarttower.com/ for more information.

Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 90,000 multifamily homes with a combined capitalization of $17.5 billion. The company currently owns 70 properties across the United States representing more than 20,000 homes. Headquartered in Atlanta, Wood Partners has offices in 22 major markets across 15 states nationwide. The company also operates Wood Residential, an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For two years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III). For more information, visit woodpartners.com.

A joint venture of CP Capital, a highly disciplined U.S. real estate manager specializing in multifamily investments, and Wood Partners (“Wood”), a leading, fully integrated real estate company with expertise in development, construction, and property management, today announced they will be developing ‘Alta 99th’ – a 402-unit multifamily development project in Phoenix, Arizona.

Alta 99th sits in the West Valley submarket of Phoenix – offering high levels of accessibility and visibility due to its proximity to Loop 101, which has significant drive by traffic of over 135,000 vehicles per day. The sprawling site is also positioned near the brand new Loop 202, providing quick access to Metro Phoenix’s East Valley, a burgeoning tech hub for the metropolitan area.

Construction on the project is expected to begin in late March 2022, with completion slated for January 2024.

“Phoenix has maintained both a robust economy and positive apartment fundamentals in recent years, as the city benefits from steady in-migration resulting in above average job and population growth,” said Paul Doocy, Co-Head of CP Capital. “We are proud to continue our longstanding partnership with Wood Partners to deliver Alta 99th in this suburban submarket and continue to generate strong returns for our investors.”

Alta 99th will feature Class-A unit interior finishes such as stainless steel appliances, stone-surface countertops, and vinyl wood flooring. Community amenities will include a fitness center, resort-style swimming pool, dog park, detached garages, and surface parking spots.

The development will also benefit from its proximity to numerous retail and employment nodes – situated less than five minutes from the Westgate Entertainment District, home to over eight million square feet of retail space and restaurants, as well as premier entertainment venues like the Gila River Arena and the Desert Diamond Casino. The project is also near four top hospitals and a large and expanding logistics and industrial market.

“We are thrilled to continue developing multifamily spaces in the rapidly growing Phoenix area, and could not ask for a better partner in CP Capital,” said Todd Taylor, Wood Partners Managing Director, Phoenix. “We plan to implement our I-Smart solution in the development – a Class-A product with design features that allow for a more efficient building. Additionally, the size of this site will allow for a unique low-density community, complete with multiple outdoor amenity engagement areas, which is rare for Phoenix.”

CP Capital, formerly known as HQ Capital Real Estate, has partnered with Wood Partners on 21 development projects in the past, most recently Alta Gateway in Tampa, Florida.

SCOTTSDALE, Ariz., March 1, 2022 /PRNewswire/ — Leading multifamily real estate developer Wood Partners announced today the official grand opening of its latest luxury residential community, Alta Raintree, located in Scottsdale, Arizona.

This new luxury apartment community is situated on E Raintree Drive in North Scottsdale, one of the most sought-after residential areas in the Phoenix Metro. Alta Raintree offers residents easy access to renowned outdoor activities, dining, nightlife and shopping, including Kierland Commons and Scottsdale Quarter, which offer some of the best retail options in Scottsdale. Residents of Alta Raintree can also enjoy a round of golf at the many nearby courses, or explore more than 40-miles of hiking, mountain biking and horseback riding trails at McDowell Mountain Regional Park.

“We are pleased to welcome residents to Wood Partners’ newest development—Alta Raintree—located in one of Scottsdale’s most coveted neighborhoods,” said Todd Taylor, Managing Director. “This latest top-of-the-line community truly captures the high level of features and amenities that Wood Partners is known for, while also providing residents with access to some of the city’s best retail, entertainment and dining offerings just minutes from their front door.”

Alta Raintree offers 330 apartment homes consisting of one-, two- and three-bedroom floor plans. Each unit features modern architectural finishes complete with high quality interior packages, while many exterior facing units offer stunning views of Scottsdale and the McDowell Mountains. Key features include stainless steel appliances, luxurious quartz kitchen countertops with tile backsplash, electronic door entry, and wood-inspired plank flooring to create a timeless and tasteful atmosphere for residents. Additionally, units boast Kohler® bathroom accessories with illuminated mirrors and frameless showers, as well as in-unit washer and dryer sets. Select units feature additional upgrades including side-by-side refrigerators, double ovens, vent hoods and wine refrigerators to bring an added touch of luxury.

Alta Raintree offers a plethora of unique community amenities for residents to enjoy, including a Sky Lounge with expansive views of the McDowell Mountains, a resort-style pool with tanning deck and jacuzzi, and an outdoor game courtyard and putting green. The property is also outfitted with an on-site pet park and multiple outdoor entertainment areas complete with grilling stations. Indoors, residents have access to a fitness center featuring on-demand yoga, a meditation area, a Wi-Fi lounge, a conference area with micro-offices, clubroom and an on-site library and speakeasy. Urbo Market and coffee bar, the on-site convenience market concept created by Wood Partners, will offer coffee, wine, gourmet snacks and more to residents as well.

Alta Raintree is managed by Wood Residential. Visit www.AltaRaintree.com for more information.

About Wood Partners
Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 90,000 multifamily homes with a combined capitalization of $17.5 billion. The company currently owns 70 properties across the United States representing more than 20,000 homes. Headquartered in Atlanta, Wood Partners has offices in 22 major markets across 15 states nationwide. The company also operates Wood Residential, an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For two years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III). For more information, visit woodpartners.com.