Crescent Communities Kicks Off Development in Atlanta

02/09/2017

Crescent Communities has secured financing for a multifamily rental community now underway in metro Atlanta’s Perimeter neighborhood. The property, Crescent Perimeter, will consist of 320 apartments, ranging from one to three bedrooms.

Located at 5755 Glenridge Road in Sandy Springs, Ga., Crescent Perimeter will be four and five stories surrounding a parking deck within the 26-acre Lakeside office park just north of I-285. Crescent Communities expects the first residents to move into Crescent Perimeter in the third quarter of 2018.

The Central Perimeter business district is a major regional center that’s recently attracted a number of major companies, including the headquarters of Mercedes-Benz USA, State Farm and The Weather Channel. Crescent’s new apartments will also serve employees of metro Atlanta’s largest concentration of hospitals and medical offices, known as Pill Hill.

“The job growth in Atlanta, especially in Central Perimeter, has created strong demand for housing,” said Kyle Brock, managing director in Crescent’s Atlanta Office. The Charlotte-based company has previously been active in greater Atlanta: it developed central Buckhead’s Crescent Terminus (now Berkshire Terminus), and is planning a 25-story tower near Lenox Square and a project called Crescent O4W apartments in the Old Fourth Ward.

Crescent’s equity partner in the Crescent Perimeter development is Bluerock Residential, part of New York-based Bluerock Real Estate LLC. The general contractor is Fortune-Johnson Inc. of Norcross, Ga., while Fortune-Johnson is currently grading the site and preparing it for vertical construction.

Read more here: https://www.multihousingnews.com/post/crescent-communities-kicks-off-apartment-development-in-suburban-atlanta/

About Crescent Communities

Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of multifamily, commercial and mixed use communities. Crescent creates high-quality, differentiated communities in desirable locations in many of the fastest growing markets in the Southeast and Southwest. Since the company was founded in 1963, Crescent’s development portfolio has included more than 60 single family master-planned communities,  43 multifamily communities and more than 21 million square feet of commercial space. Its multifamily communities are branded NOVEL by Crescent Communities.