Crescent Resources Begins Construction for Circle University City

CHARLOTTE, N.C., Feb. 6, 2013 /PRNewswire/ -- Crescent Resources has begun construction on Circle University City, a 546 bedroom student living community that will open summer 2014 as the closest walk-to-class, off-campus luxury living option for students at UNC Charlotte.

"UNC Charlotte enrolled the largest freshman class in its history this year, and the summer 2014 opening of Circle University City will provide this growing student body with a luxury living community where every detail has been carefully considered, from the conveniences of its location to the benefits of study aids and social programming," said Ben Collins, vice president of Crescent Resources' Multifamily Division.

Circle University City, located at 9010 University City Boulevard, is directly opposite the campus' main entry, allowing students the option to walk to classes and university activities. A structured parking deck on the 4.7-acre site between Mark Twain and Suther roads will provide a secure parking area for cars, and community amenities will offer residents resources for study, relaxation and socialization.

Amenities include individual study areas with iMacs and printer, a group study room with SmartBoard and a media room. A fitness center features a yoga/barre studio, and an outdoor lawn area has been designated as a quiet space. Students also can enjoy a game room, outdoor roof deck, a pool and stand-up tanning bed. Fire pits, grilling area and a social lawn area with blow-up screen for movie nights provide outdoor activities.

The 187 units comprise of 546 bedrooms in configurations of one, two and four bedrooms. The luxury living community also will include sustainable features that meet or exceed nationally-recognized standards for sustainability.

Circle University City is financed by equity from Crescent Resources, with a construction loan from Regions Bank. The project team includes development partner Carbon Properties, architect BB+M Architecture, interior designer Vignette Interior Design, civil engineer and landscape architect LandDesign, general contractor Adolfson & Peterson Construction, and property manager Greystar.

About Crescent Resources

Crescent Resources, founded in Charlotte in 1969, is a diversified real estate firm with 20 master-planned communities and eight multifamily communities with 2,900 units under development and an additional 2,900 multifamily units in predevelopment. The company owns approximately 72,000 acres across its four divisions, including 1,400 acres zoned for commercial use.

SOURCE Crescent Resources