CRESCENT COMMUNITIES ANNOUNCES CONSTRUCTION OF MIXED-USE AND MULTIFAMILY COMMUNITY IN LOWER SOUTH END

  • 01/13/2020

Charlotte, NC - (January 13, 2020)Crescent Communities is pleased to announce the construction of a new multifamily and mixed-use community in Charlotte’s lower South End neighborhood. NOVEL LoSo Station by Crescent Communities will include 344 residences and complimentary retail within LoSo Station, the master-planned development by Beacon Partners and Cherokee Investment Partners.

Located at Scaleybark Station on the Lynx Blue Line, LoSo Station will serve as the gateway to the booming lower South End neighborhood. NOVEL LoSo Station will offer studio, 1-, 2-, and 3-bedroom residences in a 6-story community appropriately designed to complement the industrial architecture of the surrounding area. Upon full build out, LoSo Station will include over 500,000 square feet of corporate office space, a 150-key hotel, up to 45,000 square feet of retail, and 125 townhomes in an area that has experienced a recent transformation from an aging industrial neighborhood to a top social and entertainment destination, easily accessed by light rail. Nearby attractions include the Brewery District, home to several breweries, such as OMB, Victory, and Sugar Creek, as well as entertainment and dining destinations, such as Queen Park Social and Sauceman’s Barbeque and Grill.  Several additional projects are planned or under construction bringing additional residences, retail, desirable attractions and significant office space to the neighborhood.

“We have enjoyed the synergy of collaborating with Beacon Partners and Cherokee Investment Partners on this transformative development and we look forward to continuing to work alongside their team to turn the long-standing vision for a walkable and transit-oriented mixed-use community serving the Lower South End neighborhood into a reality,” commented Michael Tubridy, Managing Director with Crescent Communities. “NOVEL LoSo Station will introduce hundreds of residents into the larger LoSo Station development, helping this already-burgeoning district of South End to become a top location to live, work, and play.”

NOVEL LoSo Station will offer residents high-end finishes and luxury amenities. The community will feature two exterior courtyards, one with a heated saltwater pool, an abundance of interior and exterior amenity space including a retail coffee shop and co-working space, a Skydeck club with unobstructed views of the Charlotte skyline, a two-story fitness center, 24/7 package access, concierge level service, direct access to the light rail, and two designer finish schemes in the residences all of which will feature quartz countertops, custom painted cabinets, reclaimed wood open shelving, designer lighting, matte black or brushed brass fixtures and hardware, rain shower heads, keyless entry doors, custom closet systems, and bleached-oak plank flooring in all living areas.     

In addition to the residential component of LoSo Station, Crescent Communities will construct a 972-space parking deck to also serve the retail, office, hotel, LYNX station and residential elements of the community. Construction on NOVEL LoSo Station will begin in January 2020 with first residences expected to be available by the second half of 2021. 

NOVEL LoSo Station is one of five multifamily communities the company has planned, under construction or in lease-up in Charlotte, totaling more than 1,600 residences, many with immediate transit access and walkable mixed-use and retail offerings. Also in South End, NOVEL Atherton welcomed their first residents in early November, coinciding with the EDENS grand opening of several new retailers in the greater mixed-use community. NOVEL Montford Park welcomed their first residents in April, while first residents moved into NOVEL Research Park in February. NOVEL University Place will break ground in late spring 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 $1.7 billion. Crescent Communities has an expanding commercial footprint as well, with 1.5 million square feet of office, 56,000 square feet of retail, and nearly 500,000 square feet of industrial space under construction, representing an investment of more than $500 million.

Crescent Communities Construction will serve as the general contractor for NOVEL LoSo Station. Dwell Design Studio and Historical Concepts are the project architect and LandDesign has been named the civil engineer. CID Interiors will provide interior design, while Dix.Hite+Partners will provide landscape design services. Project financing for NOVEL LoSo Station is being provided by Goldman Sachs and Regions Bank.

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, the Crescent Communities development portfolio has included more than 59 multifamily communities, 20 million square feet of commercial space and 60 single family master-planned communities. Our multifamily communities are branded NOVEL by Crescent Communities.