Crescent Communities Embraces Nashville's Rich History and Bright Future with Plan for New Mixed-Use Community on Music Row

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Dec 11, 2014, 11:29 ET

NASHVILLE, Tenn., Dec. 11, 2014 /PRNewswire/ -- Crescent Communities has acquired a 2.1-acre site in Nashville's iconic Music Row district where it plans to build a mixed-use community with 275 luxury apartment homes along with street-front retail space. Distinguished by unique features inspired by the music industry, Crescent Music Row will preserve the character and charm of Music Row while providing convenient, innovative living options for the city's growing population.

"Music is Nashville's heart and soul, and Crescent Music Row will offer unique amenities that reflect the heritage of Music Row and the surrounding area," said Ben Collins, vice president of the Mid-Atlantic for Crescent's multifamily group. "We are fortunate to join this extraordinary district, and we look forward to designing and building a community that celebrates its rich history."

Residents of Crescent Music Row can tap into their creative talents without leaving home. The community will include a full, professional-quality recording studio and a live performance venue with a stage measuring 10 by 30 feet and seating for up to 50 people. These distinctive amenities will help create opportunities for professional and established musicians and give other residents increased access to Nashville's music culture. Crescent is also exploring opportunities to partner with Nashville recording artists to design the on-site recording studio and performance venue.

Crescent Music Row will provide the booming Nashville region with a convenient and luxury living option along with the increased flexibility rental housing can provide. Residents will appreciate the community's proximity to Music Row and the neighboring Gulch district's music venues, restaurants and retail shops in addition to nearby downtown Nashville.

Other modern amenities at Crescent Music Row will range from a resort-style, saltwater pool to an outdoor grilling area and rooftop observation deck. The community will include studios and one-, two- and three-bedroom apartment homes as well as three VIP penthouses featuring custom finishes and dramatic two story height ceilings.

Construction is scheduled to begin in January. Crescent Music Row, which is projected to open in the summer of 2016, is financed by Crescent equity, as well as construction loans by Citizens Bank and Lincoln Financial. The architect is Lord Aeck Sargent, and interior design is by Vignette Interior Design. Land Design provided landscape architecture, and Balfour Beatty is the general contractor. Pearl Street Partners is the local development partner.

In addition to Crescent Music Row's luxury apartments, the company's current plans for the site include 8,000 square feet of retail, bringing new jobs and visitors to the area.

"We're excited about the potential for Crescent Music Row to inspire a compelling movement in this area of Nashville," Collins said.

About Crescent Communities
Crescent Communities, LLC is a leading real estate investment and operating firm driven to create 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 properties in the Sunbelt and Mid-Atlantic markets that represent more than 50% of the U.S. population growth over the next decade. Its multi-product platform includes residential, multi-family, mixed-used, commercial and land assets, valued in total at $1.2 billion. Crescent's robust capital deployment, seasoned leadership team, and model of sustainability enable the company to maximize opportunity in a recovering real estate market.

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SOURCE Crescent Communities