NASHVILLE, Tenn., July 17, 2015 /PRNewswire/ -- Crescent Communities celebrated the groundbreaking of a distinctive new mixed-use development that honors the creative fabric of Nashville's iconic Music Row district, from customizable penthouses to amenities and retail inspired by the diverse craft community. The 275-unit Crescent Music Row is expected to open in the summer of 2016.
"The Music Row district exemplifies Nashville's rich history, and Crescent Music Row is designed to respect the district's heritage and celebrate its future. We believe the result will be the perfect match for an area Nashville residents know and love," said Ben Collins, senior vice president of Crescent's multifamily group. "Nashville is an extraordinary city with a thriving job market, vibrant arts scene and affordable cost of living, and it's easy to see why it's ranked one of America's fastest growing cities."
Crescent Music Row's location will give residents front door access to Music Row and the bordering Gulch district's music venues, restaurants and shops in addition to nearby downtown Nashville. In addition to luxury apartments, Crescent will bring 7,000 square feet of first-class retail to the development, forming a synergistic landmark that connects Music Row's rich history and Midtown's tough grit to the gleaming towers of the Gulch.
"We will be seeking a fusion of national, regional and local retailers to create a unique destination and complement the area's rich character," said Collins.
Crescent Music Row residents will enjoy distinctive amenities that reflect the region's music history. Residents can play and record their own music in a jam room, and the community will include a live performance venue with a stage measuring 10 by 30 feet and seating for up to 50 people. Other modern amenities include a resort-style, saltwater pool, outdoor grilling area and rooftop observation deck.
"Crescent Music Row residents will have all they need in a community that's as unique as the people and places around it," said Khris Pascarella, principal of Crescent's local development partner Pearl Street Partners. "With unmatched amenities and an unbeatable location, the stage is set for an exceptional lifestyle experience."
In addition to studios and one- and two-bedroom apartment homes, the community will include several distinctive three-bedroom, VIP penthouses featuring custom finishes and dramatic two-story height ceilings. Prospective residents will be able to preview floor plans and custom finish options including tile and paint colors.
"By offering this level of customization for a distinctive product, we're able to honor the creative, eclectic spirit of Nashville and Music Row," Collins said.
Crescent has a strong presence in the Nashville area; its multifamily group developed Crescent Cool Springs in Franklin, and its residential group developed Franklin's Lockwood Glen. In addition, Crescent's commercial group developed Franklin's Resource Parkway, Two Greenway Centre and Corporate Centre.
Crescent Music Row is financed by Crescent equity as well as construction loans by Citizens Bank and Lincoln Financial. The architect is Lord Aeck Sargent, and interior design is by Vignette Interior Design. Land Design provided landscape architecture, and Balfour Beatty is the general contractor.
About Crescent Communities
Crescent Communities, LLC is a leading real estate investment and operating firm driven to create long-term value by developing thoughtful, sustainable communities that improve people's lives. Founded in 1963, Crescent's original mandate as a land management company continues to inform its commitment to the wise stewardship of natural resources. The company finances, plans and develops properties in the Sunbelt and Mid-Atlantic markets that represent more than 50% of the U.S. population growth over the next decade. Its multi-product platform includes residential, multi-family, mixed-used, commercial and land assets, valued in total at $1.2 billion. Crescent's robust capital deployment, seasoned leadership team, and model of sustainability enable the company to maximize opportunity in a recovering real estate market.
SOURCE Crescent Communities