Lennar's The Piper Sets New Luxury Living Standard in Redmond, Achieving Rapid Leasing Success
- The Piper, developed by Lennar's Quarterra, sets a new luxury living standard in Redmond, Washington.
- The community achieved over 60% leasing and 50% occupancy within six months of opening in August 2024.
- Lennar focuses on high-quality rental communities, enhancing its presence in the competitive multifamily housing sector.
The Piper: A New Benchmark for Luxury Living in Redmond
The Piper, a luxury rental community developed by Quarterra Multifamily, a subsidiary of Lennar Corporation, in collaboration with QuadReal Property Group, establishes a new standard for upscale living in Redmond, Washington. Since its opening in August 2024, the community has experienced remarkable leasing activity, achieving over 60% leasing and 50% occupancy within just six months. This rapid uptake is a testament to The Piper's attractive offerings and strategic location, positioned near the expansive 640-acre Marymoor Park, which provides residents with ample recreational opportunities.
Designed with modern living in mind, The Piper features two five-story buildings connected by a pedestrian art walk, enhancing community engagement through interactive murals and sculptures. Residents have access to an array of amenities, including a resort-style pool and spa, outdoor sauna, coworking spaces, and dedicated children’s play areas. Furthermore, the community caters to diverse living needs, offering home designs that range from cozy 475-square-foot studios to spacious three-bedroom units measuring up to 1,400 square feet. Brad Reisinger, Regional President of Quarterra, emphasizes the community’s strong leasing momentum, attributing it to the combination of high-quality amenities and its prime location, which is set to become even more accessible with the upcoming Southeast Redmond Light Rail Station scheduled to open in May 2025.
The Piper serves as Quarterra's eleventh project in the region, showcasing the firm’s commitment to enhancing the living sector across the U.S. Daniel Glicksman, Managing Director at QuadReal, underscores The Piper's significance in their portfolio, highlighting it as part of a broader strategy to provide quality housing in key markets. As summer approaches, the community anticipates an uptick in leasing activity, further solidifying its status as a sought-after residence for those seeking a luxurious lifestyle intertwined with nature and modern conveniences.
In addition to The Piper, Quarterra Multifamily announces the launch of leasing for The Ansel, a luxury mid-rise community in Frisco, Texas, which features 355 premier apartment homes. Inspired by photographer Ansel Adams, The Ansel integrates natural beauty with modern amenities, offering residents close proximity to high-end dining and cultural attractions. Positioned conveniently near major thoroughfares, The Ansel aims to provide an exceptional living experience for those looking for luxury in the vibrant Frisco market.
Overall, these developments highlight Lennar Corporation's strategic focus on creating high-quality rental communities that resonate with modern residents, reinforcing its position in the competitive multifamily housing sector.
