{"id":1004056917,"date":"2012-12-28T12:14:43","date_gmt":"2012-12-28T20:14:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=90631"},"modified":"2022-12-07T06:19:48","modified_gmt":"2022-12-07T14:19:48","slug":"crescent-resources-announces-36m-student-housing-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crescent-resources-announces-36m-student-housing-project\/","title":{"rendered":"Crescent Resources Announces $36M Student Housing Project"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<p>Charlotte-based real estate development company Crescent Resources recently announced its new<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/circle-University-city-2117-ENTRY-PERSPECTIVE.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-90632\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/circle-University-city-2117-ENTRY-PERSPECTIVE.jpg\" alt=\"\" width=\"300\" height=\"213\" \/><\/a> Circle University City project\u2014a 546-bed student housing complex near the University of North Carolina (UNC) Charlotte campus. Construction on the $36 million community is set to start by December 23.<\/p>\n<p>The ambitious project represents an emerging trend in student housing\u2014communities that offer students upper-echelon amenities and green features. The 187-unit community will offer features such as a salt-water pool, tanning beds and outdoor fire pits.<\/p>\n<p>The community\u2019s design will draw on architectural elements from the UNC Charlotte campus. As such, residents will enjoy generous living areas and open floor plans. Recycled materials will be used in the development process. Solar power will also be implemented, along with other, yet-to-be-announced environmentally sustainable elements.<\/p>\n<p>&#8220;Circle University City will offer a unique student living experience that isn&#8217;t typically found in campus housing. The community&#8217;s targeted amenities will provide a great environment for both study and recreation,&#8221; said Ben Collins, regional director for Crescent Resources, in a press release.<\/p>\n<p>Financing for the project is being provided by equity from Crescent Resources and a construction loan from Regions Bank. Crescent also partnered up with Charlotte-based Carbon Properties LLC\u2014a real estate development company specializing in providing integrated sustainable development initiatives to reduce a project\u2019s carbon footprint.<\/p>\n<p>Charlotte-based architecture firm BeachamBunce+Manley Architecture (BB+M) is also signed on to the project, as is local interior design firm Vignette Interior Design. LandDesign was selected as civil engineer and landscape architect for the project, while Adolfson &amp; Peterson Construction was named general contractor. Greystar will handle property management.<\/p>\n<p>The project was prompted by UNC Charlotte\u2019s soaring enrollment, which is expected to<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/charlotte-construction-trends-q4-mf.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-90633\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/charlotte-construction-trends-q4-mf.jpg\" alt=\"\" width=\"300\" height=\"265\" \/><\/a> continue in the next few years. Due to record number of students choosing the university, campus housing has become an issue. Circle University City will relieve some of the pressure on housing around the campus, as the wave of units will be available in time for the fall 2014 semester.<\/p>\n<p><em>Photo courtesy of LandDesign<\/em><\/p>\n<p><em>Chart courtesy of Marcus &amp;Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charlotte-based real estate development company Crescent Resources has announced Circle University City, a 546-bed student housing project near the University of North Carolina (UNC) Charlotte campus. onstruction one the $36 million is set to start by December 23rd.<\/p>\n","protected":false},"author":49,"featured_media":1004506494,"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":[],"class_list":["post-1004056917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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