Crescent Communities Breaks Ground On Transformative Uptown Charlotte Development

CHARLOTTE, N.C., Jan. 6, 2016 /PRNewswire/ -- The Lynx Blue Line light rail stop at Stonewall Station will soon have a dynamic new mixed-use, transit-oriented development (TOD). With luxury apartments and Uptown Charlotte's first Whole Foods Market along with its planned Tryon Place mixed-use development, Crescent Communities is transforming the city's Stonewall corridor. Construction begins today with a dramatic groundbreaking ceremony featuring Crescent and community leaders including the Melissaris family, a development partner.

"Today's groundbreaking at Stonewall Station is an important milestone in our vision to create a new model of urban living in Charlotte," said Ben Collins, senior vice president for Crescent's multifamily business. "With a vibrant mix of development including crafted retail, thoughtful amenities, vibrant public spaces and enhanced connectivity, this community will allow residents, commuters and visitors to experience Charlotte like never before."

Crescent's plans for the 5.4-acre site feature a 47,000-square-foot Whole Foods Market, 459 luxury apartments and a parking deck to serve the community along with future hotels. The mixed-use development is expected to open in 2017.

Residents will enjoy unparalleled access to the Lynx Light Rail, making it easy to visit not only the iconic SouthEnd and NoDa districts as well as other areas of Uptown, but also points as far south as Pineville and as far north as the University of North Carolina at Charlotte once the light rail expansion is completed in 2017.

Crescent's Stonewall Station community is designed for commuters and travelers alike, as I-277 and the airport are nearby. For those who prefer a pedestrian lifestyle, Uptown employers and amenities such as sports arenas, cultural institutions, Romare Bearden Park, bars and restaurants as well as the popular neighborhoods of Midtown and SouthEnd are within walking distance. Charlotte's Gold Line streetcar, with stops at additional bars and restaurants and a major medical center, is also nearby.

Smart, thoughtful public spaces are a hallmark of Crescent's Stonewall Station development, with a public plaza offering food carts, social events and an exciting, open-air gathering place. The plaza, located adjacent to the raised light rail platform, will integrate seamlessly with the Whole Foods Market café.

Clever design elements extend to community features that create a perfect blend of spaces for working, relaxing, entertaining and connecting with others. The multifamily community will feature a heated, invisible-edge saltwater pool, skyline fitness center and sky lounge as well as grilling and picnic areas and a rooftop dog park. Apartments will include luxury features like granite or quartz countertops, stainless steel appliances, wood-style flooring, designer lighting and USB outlets for connectivity.

Crescent Stonewall Station is financed by an equity investment by Crescent Communities and the Melissaris family. Construction debt is provided by JP Morgan Chase and Emigrant Realty Finance. The architect is The Preston Partnership, and interior design is by Vignette Interior Design. LandDesign handled civil engineering and will provide landscape design, and Whiting-Turner is the general contractor.

About Crescent Communities
Crescent Communities, LLC is a leading real estate investment and operating firm creating 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 residential, multifamily, mixed-used and commercial properties and land assets, valued in total at $1.2 billion. Crescent is recognized for its innovative approach to development, robust capital deployment, seasoned leadership team, and proven model of sustainability.

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SOURCE Crescent Communities