Crescent Communities Announces Donation of Land at The River District to Affordable Developer, Laurel Street
CHARLOTTE, North Carolina (Jan. 8, 2026) – Crescent Communities, a nationally recognized market-leading real estate investor, developer, and operator of mixed-use communities, today announced that it has fulfilled a long-standing commitment to affordable housing by officially donating a parcel of land at The River District, its 1,200-acre master-planned community in West Charlotte, to Laurel Street, a leading local developer of high-quality mixed-income and affordable housing.
This donation of 2.7 acres marks a significant step in Crescent Communities’ long-term vision to bring a diverse range of housing, employment, and lifestyle options to The River District. Laurel Street will use the property to develop 87 mixed-income housing multi-family units. Construction on the new housing is anticipated to begin in 2026, with delivery expected in 2027.
“From the beginning, Crescent Communities has been intentional about making The River District a place that welcomes everyone, with a range of housing options – including accessible housing – as a core part of our community vision,” said Rainer Ficken, Managing Director at Crescent Communities. “Our partnership with Laurel Street helps ensure we deliver on that commitment in a meaningful way. This donation reflects our responsibility as a real estate developer to create communities that embody our values, especially our core belief to ‘Do What’s Right.’”
The River District master plan is built on the foundation of inclusivity, sustainability, and connection, bringing together residential, office, retail, dining, and vast natural amenities. Affordable housing has been a central component of this plan, aligning with Crescent Communities’ ongoing responsibility to create vibrant, livable neighborhoods for a wide spectrum of Charlotte residents.
“The River District represents the best of what thoughtful, inclusive development can be, and we are honored to play a role in helping bring it to life,” said Dionne Nelson, President and CEO at Laurel Street. “Crescent Communities’ commitment to creating a place where people of all backgrounds can live, connect, and thrive aligns fully with our mission, and we’re excited to build high-quality homes that will welcome new families and strengthen the fabric of this community.”
Earlier this fall, The River District welcomed its first resident to a David Weekley-designed single-family home in Westrow, the community’s 70-acre town center that will feature sidewalks connected to tree-lined streets and storefronts. Additional single-family homes and townhomes in Westrow are now under construction and available for purchase. Crescent Communities also recently broke ground on a set of 140 single-family lots in its Basswood neighborhood and Forge Village in Westrow, which will include a playground, a two-acre working farm, a pavilion with an event lawn, and a community building with a café and store selling produce from the farm.
The community also features NOVEL River District, a currently pre-leasing 318-unit multifamily development under Crescent Communities’ Class A NOVEL brand offering world-class amenities, engaging resident programming and events, and contemporary design. The initial builder phase includes more than 260 lots, with long-term plans for up to 2,300 single-family homes and 2,350 multifamily residential units.
Conceptualized through a thoughtful multi-year development process and nestled between the banks of the Catawba River and Charlotte-Douglas International Airport, The River District will integrate the primary components of urban life – a connected network of homes, retail shops, restaurants, office buildings, schools, and public spaces – with the allure of the parks, trails, forests, river access, and open spaces abound in nature. For more information, visit www.theriverdistrict.com or follow the development on Instagram, Facebook, and X.
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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 96 multifamily communities and 25 million square feet of commercial space. Crescent Communities has offices in Charlotte, DC, 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.
About Laurel Street:
Laurel Street is a leading multifamily residential development company experienced in developing high-quality communities for individuals, families and seniors. Headquartered in Charlotte, N.C., the company has a current development portfolio of nearly 6,000 units. For more information, visit www.laurelstreetres.com.
