ATLANTA, GA (February 5, 2020) – Crescent Communities today announced plans to develop a mixed-use multifamily community in Midtown Atlanta. NOVEL Midtown by Crescent Communities will include 339 residences in a 14-story high-rise tower in the heart of Midtown. The community will be surrounded by a mix of uses including a 310,000 square foot office tower being developed by Greenstone Properties and street-level retail space sharing an underground parking facility.
“We are excited about the opportunity that this amazing location provides for us to create an upscale living experience,” commented Kyle Brock, managing director for the Georgia region of Crescent Communities’ multifamily business. “Midtown is a sought-after destination to live, work, and play. It is our intention to provide a living experience that blends luxury with comfort and complements the modern conveniences of this vibrant community.”
NOVEL Midtown is in the heart of one of Atlanta’s most sought-after entertainment and employment nodes. Highly walkable, the community is directly across the street from a new 70,000 square foot Whole Foods Market. A variety of notable restaurants and bars are within walking distance of NOVEL Midtown, including Ecco, Café Intermezzo, South City Kitchen, Empire State South, Lure, 5Church, and the Federal. NOVEL Midtown is located steps from many of Atlanta’s cultural institutions including the Woodruff Arts Center, the High Museum of Art, SCADShow, and the Museum of Design Atlanta (MODA).
In addition to traditional amenities, NOVEL Midtown will offer an elevated, resort-style saltwater pool, sky deck with 180-degree skyline views, a luxury fitness center and spa, yoga studio, pet spa, and coffee bar. The community will include studios, 1-, 2-, and 3-bedroom residences with private balconies. Finishes and amenities will include leathered granite countertops, luxury flooring, and expansive skyline views. With a focus on sustainability, Crescent Communities is pursuing National Green Building Standard (NGBS) certification for the community.
Crescent Communities hand selected a best-in-class design team that includes Niles Bolton Associates (project architect), Ironwood Design Group (landscape architect), and Vignette Interior Design (Interior Design). Project financing is provided by funds managed by The Carlyle Group and Santander Bank. Balfour Beatty will be the General Contractor for the project. Construction on NOVEL Midtown commenced January 2020, with delivery of the first residences scheduled for Spring 2022.
NOVEL Midtown is one of four projects that Crescent Communities has under construction or in lease-up in the Atlanta area. NOVEL Perimeter in Sandy Springs came to the market in 2018. NOVEL Old Fourth Ward (O4W) welcomed their first residents in the Fall of 2019, and residences at NOVEL Upper Westside, currently under construction, will be available in mid-2020. More broadly, the company has a growing national multifamily and mixed-use footprint, including 6,000 apartments and 288,000 SF of retail under construction and in operations, representing a total investment of $1.6 billion. Crescent Communities has a growing commercial footprint as well, with 1.7 million square feet of office, 62,000 square feet of retail, and nearly 400,000 square feet of industrial space under construction, representing an investment of more than $500 million.
About Crescent Communities
Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. Crescent Communities creates 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 59 multifamily communities, 20 million square feet of commercial space and 60 single family master-planned communities. Its multifamily communities are branded NOVEL by Crescent Communities.
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