Crescent Communities Accelerates Phoenix Expansion Amid Strong Market Momentum with Key Promotion

CHARLOTTE, North Carolina (August 12, 2025): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities, is deepening its presence in the fast-growing Phoenix market with a series of high-impact developments and the promotion of Ken Keefe to Managing Director in Arizona. This strategic move and the consistent momentum in the region reflect both Crescent’s long-term confidence in the Valley and its commitment to locally led growth in high-opportunity Sun Belt markets.  

Keefe’s promotion to Managing Director comes during a period of increased growth and investment across Crescent’s Arizona portfolio. Since joining Crescent Communities in 2020, Keefe has proven to be instrumental in guiding development activities in the market, demonstrating an impressive track record of execution, partnership, and strategic leadership. In his new role, Keefe will oversee multifamily investment activity in the state, including site acquisition, project delivery, and market strategy, and will continue to lead numerous key developments in progress, including:   

• Heritage Park in Gilbert’s Heritage District, which will transform more than 10 acres into a vibrant, mixed-use destination featuring NOVEL Heritage Park, a 288-residence multifamily community now under construction, as well as future office, retail, and hospitality offerings centered around a public plaza. 

• Strong leasing activity at NOVEL Val Vista – a premier 317-unit community in Gilbert, signaling continued demand for upscale, amenity-centric multifamily living in the East Valley. 
• A robust pipeline of premium multifamily communities in the East Valley that are currently in the predevelopment stages, underscoring Crescent’s continued investment in and long-term commitment to the greater Phoenix market. 

“Phoenix is experiencing a powerful combination of economic and population growth and lifestyle-driven demand that makes it one of the most lucrative real estate markets in the country,” said Jay Curran, President of Multifamily at Crescent Communities. “From North Phoenix to the East Valley, we see strong leasing potential, deep interest from community and industry partners, and real enthusiasm from residents for the kind of thoughtful, amenity-rich communities we deliver. Ken has been a driving force behind that success, and we’re confident his leadership will continue to shape our success in Arizona.” 

With nearly a half-dozen major projects in production, currently operating or in the pipeline across metro Phoenix – in addition to four succesful legacy multifamily communities – Crescent is actively delivering on a vision to create intentional, design-forward communities that reflect the region’s unique character and meet rising housing demand. 

“Arizona is a place where innovation and momentum go hand in hand – but what makes it truly special is the chance to help shape communities that resonate with the people who call them home,” said Keefe. “From the dynamic energy of downtown Phoenix to the growing vibrancy of the suburbs and beyond, we create places that feel connected, intentional, and lasting. I’m honored to continue leading that effort with a team that’s deeply committed to quality and community impact.” 

Nationwide, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments in various stages of construction, operations, and planning. That pipeline includes 15,300 multi- and single-family build-to-rent units; 58,000 square feet of complementary retail space; and 7.5 million square feet of office, industrial, and life-sciences facilities.  

Ken’s headshot is linked here and Crescent Phoenix media assets are linked here. 

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About Crescent Communities: 

Crescent Communities is a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use “communities”. We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 95 multifamily communities and 26 million square feet of commercial space. Crescent Communities has offices in Charlotte, D.C., Atlanta, Orlando, Nashville, Dallas, Denver, and Phoenix. Our multifamily communities are branded NOVEL, RENDER, and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life science developments are branded THE YIELD by Crescent Communities.