Crescent Communities And Oxford Properties Group Announce New Luxury Multifamily Community In Denver
DENVER, CO (April 14, 2022) – Nationally recognized Crescent Communities and leading global real estate investor, asset manager and business builder Oxford Properties Group (“Oxford”), are pleased to announce plans for construction of a new multifamily community in Uptown Denver. Located at 1557 North Logan Street, NOVEL Uptown will be just a few blocks from Denver’s bustling business district in a unique position between the historic Uptown and eclectic East Colfax neighborhoods. The community will include 261 for-rent residences with unobstructed views of downtown, the mountains, and the iconic spires of the nearby Archdiocese of Denver. NOVEL Uptown marks Crescent Communities’ third investment in the Denver market.
Crescent Communities and partner Oxford purchased the land in April 2022, with construction slated to begin later this month. First residence delivery is anticipated fall 2024. Financing for the project is provided by BMO. Design partners include architecture firm Tryba, civil engineer Kimley-Horn, landscape architect Dig Studio, interior design by ESG, and Milender White as the general contractor.
“NOVEL Uptown demonstrates Crescent Communities’ commitment to continued and strategic growth in the vibrant Denver market,” said Ben Krasnow, Managing Director of the Southwest region for Crescent Communities. “We are thrilled to partner with Oxford to build this one-of-a-kind multifamily community that is unique in both location and the experiences it will provide residents.”
NOVEL Uptown is designed to blend the area’s quirky personality with convenient and sophisticated living. The community will be the first in the neighborhood to incorporate luxury finishes and amenities, with commissioned original artwork throughout that reflects the music-centric personality of the surrounding community. Its central location will place residents within walking distance of the historic tree-lined streets of Uptown Denver as well as iconic East Colfax Avenue, best known for its live music and entertainment venues.
“We’re pleased to come together with a highly-aligned partner in Crescent Communities on the exciting new development of NOVEL Uptown,” said Rachel Reardon, Director, U.S. Residential at Oxford. “Denver has experienced immense growth over the years, which comes with an increased need in residential offerings. We look forward to working together to help address that need with a best-in-class community that takes the residential experience to the next level.”
The community will consist of a 10-story building offering studios, one-bedrooms, and two-bedrooms, as well as townhouse-style floor plans available on the first level. Amenities include a state-of-the-art fitness center, private work from home spaces, a rentable conference room, and remarkable 10th floor skydeck complete with a rooftop pool, grilling stations, and sweeping views of Denver and the mountain ranges beyond. Land of a Thousand Hills Coffee will also open a café and retail shop on the first floor, serving both residents and the greater community.
Two other Denver-area Crescent Communities efforts, NOVEL RiNo and NOVEL White Fence Farm, are currently under construction. With additional community plans in the pipeline and a growing local team, the Denver market continues to be a top priority for Crescent Communities’ expansion in the Western region of the country.
Additional details surrounding the community will be announced at a later date. Renderings are available here. Forthcoming imagery and logos are available upon request.
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 residential and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 74 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities.
For more information about Crescent Communities, visit www.crescentcommunities.com.
About Oxford Properties Group
Oxford Properties Group (“Oxford”) is a leading global real estate investor, asset manager and business builder. It builds, buys, and grows defined real estate operating business with world-class management teams. Established in 1960, Oxford and its portfolio companies manage approximately C$80 billion of assets across four continents on behalf of their investment partners. Oxford’s owned portfolio encompasses office, logistics, retail, multifamily residential, life sciences, hotels and creidt in global gateway cities and high-growth hubs. A thematic investor with a committed source of capital, Oxford invests in properties, portfolios, development sites, debt, securities and real estate businesses across the risk-reward spectrum. Together with its portfolio companies, Oxford is one of the world’s most active developers with over 100 projects currently underway globally across all major asset classes. Oxford is owned by OMERS, the Canadian defined benefit pension plan for Ontario's municipal employees.
For more information on Oxford, visit www.oxfordproperties.com.
