{"id":1004054848,"date":"2012-12-07T07:04:58","date_gmt":"2012-12-07T15:04:58","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=86132"},"modified":"2022-12-09T01:11:03","modified_gmt":"2022-12-09T09:11:03","slug":"crescent-develops-33m-luxury-apartment-community-in-charlotte","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/","title":{"rendered":"Crescent Develops $33M Luxury Apartment Community in Charlotte"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<p>Crescent Resources is continuing its expansion in Charlotte\u2019s multifamily market. For its newest project, the Charlotte-based developer has partnered up with Global Growth Trust Inc., a non-traded REIT focused on providing capital appreciation for investors. The result of this partnership will be Circle Alexander Village\u2014a $33.6 million luxury apartment community that will rise on 18.6 acres in the northeastern part of Charlotte.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/circle-at-south-end.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-86138\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/circle-at-south-end.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a><\/p>\n<p>The 320-unit luxury garden-style community will feature one-, two- and three-bedroom apartments, the first of which will be available in fall of 2013. Units will be done in the style of vernacular classical revival architecture.<\/p>\n<p>Circle Alexander Village will feature top community amenities\u2014a pool plaza that will include a resort-style saltwater pool; a sundeck; lounging areas; bocci courts; an outdoor fireplace; and an outdoor kitchen. The community clubhouse will boast a business center, cyber caf\u00e9, gaming area, clubroom and a catering kitchen. \u00a0The apartment complex will encourage a healthy lifestyle with its state-of-the art gym, yoga lawn, dog park, walking trail and pond.<\/p>\n<p>\u201cThe Circle brand represents upscale apartment living with environmentally sensitive attributes and social programming with the goal to build a strong community and enhance our residents\u2019 lives,\u201d declared Ben Collins, regional director for Crescent\u2019s multifamily division, in a press release. And true to its eco-consciousness, Circle Alexander Village will pursue not only LEED certification, but an Audubon International Signature Sanctuary designation as well.<\/p>\n<p>The Preston Partnership has been chosen as architect for the project, while LandDesign\u00a0<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/charlotte-construction-trends-q4-multif.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-86139\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/charlotte-construction-trends-q4-multif.jpg\" alt=\"\" width=\"300\" height=\"218\" \/><\/a>has been designated as landscaping architect and civil engineer. The construction lender is Regions Bank, while equity investments will be made by both parties of the partnership. Global Growth Trust will put forward 60 percent, and Crescent Resources will contribute the remaining 40 percent.<\/p>\n<p>Circle Alexander Village is located within University Research Park near I-85, providing convenient access to both Downtown and the Greater Charlotte Area. The apartment community is only the first phase in a 62-acre mixed-use project Crescent Resources plans to develop.<\/p>\n<p>Circle Alexander Village represents the second partnership between CNL Financial Group affiliate Global Growth Trust and Crescent Resources after partnering on Circle Crosstown\u2014the $37 million apartment community in Tampa, Fla. currently under construction.<\/p>\n<p>Crescent Resources\u2019 360-unit Circle at South End sold earlier this year for $74 million.<\/p>\n<p><em>Photo courtesy of Circle at South End \u2013 Charlotte\u2019s Facebook profile<\/em><\/p>\n<p><em>Chart courtesy of Marcus &amp; Millichap\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crescent Resources continues its expansion in Charlotte&rsquo;s multifamily market. For its newest project the Charlotte-based developer has partnered up with Global Growth Trust, Inc., a non-traded REIT focused on providing capital appreciation for investors.<\/p>\n","protected":false},"author":49,"featured_media":1004506575,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21742],"tags":[1815],"class_list":["post-1004054848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crescent Develops $33M Luxury Apartment Community in Charlotte - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crescent Develops $33M Luxury Apartment Community in Charlotte\" \/>\n<meta property=\"og:description\" content=\"Crescent Resources continues its expansion in Charlotte&rsquo;s multifamily market. For its newest project the Charlotte-based developer has partnered up with Global Growth Trust, Inc., a non-traded REIT focused on providing capital appreciation for investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-07T15:04:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:11:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/circle-at-south-end.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/\",\"name\":\"Crescent Develops $33M Luxury Apartment Community in Charlotte - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/circle-at-south-end.jpg\",\"datePublished\":\"2012-12-07T15:04:58+00:00\",\"dateModified\":\"2022-12-09T09:11:03+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/circle-at-south-end.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/circle-at-south-end.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-develops-33m-luxury-apartment-community-in-charlotte\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crescent Develops $33M Luxury Apartment Community in Charlotte\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4\",\"name\":\"Eliza Theiss\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"caption\":\"Eliza Theiss\"},\"description\":\"Eliza Theiss is a senior writer reporting real estate trends in the US. 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