Crescent Resources To Begin Circle Alexander Apts
First Units Available In 2013 At $33.6M Apt Community
December 4, 2012
Crescent Resources has started construction of Circle Alexander Village, a 320-unit apartment project on 27 acres in University Research Park in Charlotte, NC.
With the $33.6 million project on Senator Royall Drive just south of Mallard Creek Church Road, Crescent has 2,300 total multifamily units in projects valued at $340 million under construction throughout the Southeast.
Crescent will seek Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council for the clubhouse, as well as a Signature Sanctuary designation from Audubon International for the grounds.
Equity investments from Crescent Resources and CNL Financial Group are financing the project. The construction lender is Regions Bank. The architect for Circle Alexander Village is The Preston Partnership, and LandDesign is the landscape architect and civil engineer.
Other Crescent multifamily communities under construction include Circle Bayshore and Circle Crosstown in Tampa, FL; Gallery at Cameron Village in Raleigh, NC; Circle Ninth Street in Durham, NC; and Circle SouthPark in Charlotte. Crescent's planned multifamily communities include Circle Terminus in Atlanta and Circle University City in Charlotte.