Fans know the studio quite well!
Back when Nintendo remade The Legend of Zelda: Ocarina of Time the first time around for Nintendo 3DS, fans were surprised to hear that the development was not handled in-house. That honor went to Grezzo, which developed both The Legend of Zelda: Ocarina of Time 3D and The Legend of Zelda: Majora’s Mask 3D for the handheld. They were fine games, certainly, but there was something curious about Nintendo not handling development chores itself given the important and prominence of Ocarina of Time, both internally and for the industry at large.
With the announcement that Ocarina of Time was being remade once more, but this time for home console and more ambitious than the 3DS version, fans wondered who would be in charge of development this time around. Would it be another outsource like Star Fox was? The answer is no, it wasn’t outsourced, but is instead a fully internal project from Nintendo. Developed by Nintendo Entertainment Planning & Development (EPD) Production Group No. 3. This might not be a name that rolls off the tongue, but it is a group intimately familiar with the series, as it has been working on Zelda games for over 25 years at this point. While there is certainly fairness in being apprehensive about this remake, it’s at least being made by the home team.
Source: Nintendo of America Website