2014

Crescent Communities Begins Preleasing Crescent Alexander Village at University Research Park Final Construction Plans Include Use of Property Timber in Ceiling Beams and Outdoor Furniture for Community's Social Areas

CHARLOTTE, N.C., Feb. 24, 2014 /PRNewswire/ -- Crescent Communities is now preleasing Crescent Alexander Village, a 320-unit, luxury garden-style apartment community set to open this spring. The first phase of development in Crescent's 63-acre, multi-use development at University Research Park, the multifamily community is in the final stages of construction including the installation of wood elements made with reclaimed timber from the property.

"Crescent Alexander Village combines the natural beauty of the property with the vibrancy of the fast-growing University Research Park," said Elam Hall, development manager with Crescent's multifamily group. "The property's history has been carefully preserved through construction and design, yet the amenities and location will provide residents with luxury lifestyle comforts and easy commutes to work."

Located on Senator Royall Drive just south of Mallard Creek Church Road near I-85, Crescent Alexander Village combines elements of resort-style living with classic designs. The vernacular classical design of the buildings, including the clubhouse's center stonework, recalls the craftsmanship of stone homes originally built in the 1700s.

The community, whose street names recognize the Alexander family who once owned the land, features an elegant meeting house with a private clubroom, gaming area, business center and catering kitchen. Crescent worked with Sawmills Ltd., a North Carolina Century-designated farm in Lincoln County, to reclaim timber from the Crescent Alexander Village property. The timber is being used to create exposed beams in the meeting house community space that will be enjoyed by residents and visitors. It also will be featured in outdoor furniture in the community's expansive, wooded dog park.

"Sustainability is at the heart of everything we do," Hall said. "For every new project, we look for ways to preserve or maintain natural resources and land spaces. Crescent Alexander Village is part of our commitment to doing what's right, and residents will appreciate the aesthetics of a community that integrates timber from the land."

In addition to the meeting house and dog park, amenities include a resort-style saltwater pool with lounging areas and aqua sundeck, outdoor yoga lawn, health club, complimentary bicycles, outdoor kitchen and fireplace, storage units and garages, convenient car wash with vacuum and Starbucks® coffee kiosk. 

The one-, two- and three-bedroom apartments feature chef-inspired kitchens, stainless steel appliances, nine-foot ceilings, 36" soaking tubs and spacious walk-in closets. The community includes eight cottage units, which overlook a scenic pond with a fitness trail and are modeled after cottage-style living at Crescent's signature Palmetto Bluff resort.

"Crescent Alexander Village features elements of resort-style living as well as classic design and is a perfect complement to the up-and-coming University Research Park," said Ben Collins, vice president of Crescent's multifamily group, which is developing three other Charlotte multifamily properties – one in Dilworth, one in SouthPark and a student living community called Circle University City across from UNC Charlotte.

Preleasing information is available at www.crescentalexandervillage.com or 1-888-867-0715; Riverstone will manage Crescent Alexander Village, which is a registered member of the Audubon International Signature Program and is working toward designation as a Certified Signature Sanctuary.

Crescent Alexander Village is financed by construction loans from Regions Bank. The architect is The Preston Partnership, and LandDesign is the landscape architect and civil engineer.

About Crescent Communities

Founded in 1969 in Charlotte, Crescent Communities is a diversified real estate investment, development and operating company dedicated to enhancing the quality of life for people through sustainable multifamily, residential and commercial communities and responsible land management. Crescent's portfolio today includes 27 master-planned communities, including its signature Palmetto Bluff, as well as 21 multifamily projects with 5,900 units under construction or in pre-development. The company owns and manages approximately 45,000 acres, including 1,400 acres zoned for commercial use. www.CrescentCommunities.com.

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SOURCE Crescent Communities



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