CRESCENT COMMUNITIES ANNOUNCES CONSTRUCTION OF MULTIFAMILY COMMUNITY IN ATLANTA'S WEST MIDTOWN

  • 04/29/2021

ATLANTA, GA (April 29, 2021)Crescent Communities is pleased to announce the construction of a new multifamily community in Atlanta’s West Midtown neighborhood. NOVEL West Midtown by Crescent Communities, located at 1330 Fairmont Avenue, will include 340 for-rent residences with a percentage of the residences designated for affordable housing. This project is the 7th investment in the Atlanta market by Crescent Communities.

“We look forward to this opportunity to be part of the growing West Midtown neighborhood,” says Kyle Brock, Managing Director at Crescent Communities. “The area continues to be one of the most sought-after destinations to live, work, and play, and we are excited to provide residents with a truly differentiated upscale living experience within this vibrant community.”

Crescent Communities and financial partner MAA purchased the land in April 2021. Construction will commence in early May with first residences slated to be delivered in mid-2023.

Brad Hill, Executive Vice President of Multifamily Investing for MAA adds, “This project presents an exciting opportunity for us to partner with Crescent Communities and expand our Atlanta presence in the dynamic and growing submarket of West Midtown. The property will feature green construction practices and will be certified Silver by NGBS. NOVEL West Midtown will be an urban oasis that specifically aims to bring the outdoors inside while creating a connected, healthy, and sustainable community for future residents who will benefit from the property’s ideal position along the future Westside BeltLine Trail as well as its close proximity to outdoor activities, shopping, restaurants, and Atlanta’s major employment centers.”

Construction of the luxury community will be handled by Juneau Construction Company with Dwell Design Studio acting as lead architect with additional partnership from 505 Design. Landscape architecture is being performed by Dix.Hite Partners with interior design by CID Design Group.

NOVEL West Midtown’s residences will be housed in a five-story wood frame building. In addition to luxury finishes in both the communal spaces and residences, the community will also feature an abundance of greenspace and nature trails, a highly desired element for the area.

The West Midtown area of Atlanta has experienced explosive growth over recent years, transforming from a historic industrial and manufacturing district into a thriving entertainment district with some of the city’s best restaurants, art galleries, breweries, retailers, and an exciting nightlife scene. NOVEL West Midtown is less than a mile from popular businesses including Monday Night Brewing, Star Provisions, Top Golf, Westside Provisions District, The Works, and more. For active residents, the property will also offer direct connectivity to a future portion of the Atlanta BeltLine, and the Westside Reservoir Park at Bellwood Quarry is one mile away.

Additional details surrounding the community will be announced at a later date. A rendering is 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 63 multifamily communities, 21 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 multifamily communities are branded NOVEL by Crescent Communities.

About MAA
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, MAA had ownership interest in 102,772 apartment units, including communities currently in development, across 16 states and the District of Columbia. For further details, please visit the MAA website at www.maac.com.