Crescent Resources Starts Construction On Circle South Park

CHARLOTTE, N.C., June 11, 2012 /PRNewswire/ -- Construction is starting today on Circle South Park – a $52 million luxury apartment community from developer Crescent Resources, LLC. The first apartments are expected to be available in summer 2013.

Circle South Park will include 321 apartment homes on a Carnegie Boulevard site adjacent to Piedmont Town Center near SouthPark mall. Circle South Park, which will feature classical traditional architecture and blend with other buildings in the neighborhood, will be the third Circle community developed by Crescent Resources in the Charlotte region.

"South Park is an ideal location for our Circle brand and our next multifamily project," said Brian Natwick, president of Crescent Resources' multifamily division. "Like other Circle communities, Circle South Park will offer a unique lifestyle and provide residents with an opportunity to live, work and play within easy walking distances. South Park is the southeast's premier shopping and dining destination, and the opportunity to live within this neighborhood in a Circle community is unprecedented."

Circle communities offer unique programming – from volunteering to pet happy hours – aimed at enriching social experiences and fostering a sense of community among residents. Circle South Park will feature a cyber lounge, business center, Wi-Fi throughout the amenity areas, and a state-of-the-art clubroom with a show kitchen and gaming area. The project will also feature a multistory health club; resort-style saltwater pool with aqua sundeck, outdoor kitchen and lounging area; two-acre dog park and a scenic pond with a walking trail. 

Apartments will include a mix of studio, one- and two-bedroom floor plans. Interior features will include stainless steel appliances, washer and dryer, stone countertops, wood cabinetry, Moen fixtures, and a designer lighting package.

Circle South Park is being financed by an equity investment from Crescent, construction financing from J.P. Morgan Real Estate Banking and mezzanine financing from Nationwide Real Estate Investments. The project team includes architect The Preston Partnership, LLC; landscape architect LandDesign; civil engineer ColeJenest & Stone, interior designer Vignette Interior Design; general contractor State Building Group and property management firm Greystar.

In keeping with Circle's green philosophy, the project will seek Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council upon completion.

More information is available at www.circlesouthpark.com. The website also provides a signup form for people who wish to receive project announcements and leasing information.

About Circle
Circle was inspired through extensive review and analysis of industry trends and marketplace needs. The progressive Circle communities are places where neighbors connect and become stewards of the larger community. In addition to presenting a new breed of apartments in which people are excited to live, Circle developments are infused with the exceptional quality and customer-oriented features that have become Crescent hallmarks. Visit www.liveinthecircle.com for more information.

Crescent is the developer of Circle at South End in Charlotte and Circle at Concord Mills in Concord, N.C. Crescent's multifamily communities under construction include The Venue at Cool Springs in Nashville, Tenn.; Circle West Campus in Austin, Texas; Gallery at Cameron Village in Raleigh, N.C.; Circle Crosstown in Tampa; and Circle Ninth Street in Durham, N.C. Crescent's planned multifamily communities include Circle Bayshore in Tampa, Circle Alexander Village in Charlotte and Circle Terminus in Atlanta, as well as four additional developments planned to start construction this year.

About Crescent Resources, LLC
Crescent Resources, LLC, is a land management and real estate development company with interests throughout the southeastern United States. Based in Charlotte and established in 1969, Crescent creates mixed-use developments, single-family neighborhoods, apartment and condominium communities, Class A office space, business and industrial parks and shopping centers. Visit www.crescent-resources.com for more information.

SOURCE Crescent Resources, LLC