Italian fashion house Fendi is expanding its Roman empire – this time to Scottsdale, Arizona. Fendi recently announced that it will be building a total of 41 bespoke Fendi Private Residences that will hit the market later this year and will be completed in 2020.
The homes will average 3,500 square feet, in which architect Marco Costanzi will be responsible for design and architecture. Costanzi previously worked on the Fendi Private Suites and Fendi headquarters in Rome.
Private branded residences are beginning to pop up and become more of a trend. Other Italian brands, including Armani, Versace, and Missoni have also begun expanding further into the lifestyle category, while Fendi seems to be following in the footsteps. Robb Report notes that Armani is reportedly planning new residences above its Fifth Avenue store in Manhattan. It will feature 19 units, in addition to one for Mr. Armani himself and will be completed in 2023.
Fendi’s $2 billion luxury development, called The Palmeraie, will include 160,000 square feet of high-end space located on 18 acres near the upscale town of Paradise Valley. It will be very well-rounded from branded homes to luxury shopping, hospitality, dining and much more.
“Scottsdale has one of the largest primary home markets in the U.S. that is further complemented by year-round international tourism and one of the most significant secondary homeownership markets in the U.S.,” said Hanna Streuver, principal of Retail Portfolio Solutions. “It is a destination that is being prioritized on the worldwide stage.”