Crescent Communities Announces Plans for New Master-Planned Community in Leander, Texas

500-Acre Community Near Austin Offers Access to Light Rail, Native Wooded Areas

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Jan 09, 2014, 09:34 ET

CHARLOTTE, N.C., Jan. 9, 2014 /PRNewswire/ -- Crescent Communities, a real estate investment, development and operations company, is set to begin development of a 500-acre, master-planned community in Leander, Texas. Designed as a transit-oriented development (TOD), the community will offer close proximity to Austin, a strong school district and inviting hill country topography for residents to enjoy.

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"As the City of Leander and Williamson County continue to expand, we are excited to be a partner for growth while preserving a Leander lifestyle within the community," said Steve Yetts, senior vice president of Crescent Communities' residential group.

The property, an assemblage of two adjacent land tracts approximately 27 miles north-northwest of downtown Austin, fronts the new 183A toll road and is near the terminus of the Capital Metro Rail Line. Providing easy access to major employment centers, the master-planned community will incorporate modern amenities and the beauty of the natural environment.

"Homeowners today are seeking balance in their professional and personal lives, and the geography and topography of this land are an ideal combination for Crescent's approach to community building," Yetts said. "Our plans for this new community will give our residents easy commutes to their workplaces and the ability to embrace their time at home with social amenities, hiking and biking trails, open spaces and native wooded areas."

When complete, the community will include approximately 1,250 homes. It is located within the Leander school district, the largest school district in Williamson County and the fastest-growing district in Texas, a market that Crescent sees as one of the most dynamic in the United States.

This marks Crescent's fourth new investment in Texas. The company, which is developing the lakefront community Rough Hollow on Austin's Lake Travis, recently began development in Dripping Springs' Belterra and announced plans for a new master-planned community in Oak Point near Dallas. Crescent also broke ground on The Groves, the company's first master-planned community in Houston, last month.

Crescent expects to initiate development for its new community in Leander in mid-2014.

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 22 master-planned communities, including its signature Palmetto Bluff, as well as 15 multifamily projects with 4,295 units under construction or in planning/pre-development. The company owns and manages approximately 42,118 acres, including 800 acres zoned for commercial use.

SOURCE Crescent Communities