Nashville, TN (September 23, 2020) – Crescent Communities proudly announces the groundbreaking of mixed-use multifamily community NOVEL Edgehill in the metropolitan Edgehill neighborhood of Nashville, TN. While the project officially broke ground in January 2020, the groundbreaking ceremony will be held at the community, located at 801 12th Ave. South, on September 23 at 5 p.m. CT.
The four and five story apartment home community, which was purchased by Crescent Communities and development partner Pearl Street Partners of Brentwood earlier this year, will offer 270 studio, one- and two-bedroom apartment homes with urban finishes. NOVEL Edgehill is located near Interstates 40 and 65 on 12th Ave. South bordering the Edgehill and The Gulch neighborhoods. Today, Edgehill is a community of diverse cultures, existing for more than 200 years, and is comprised of commercial businesses, single-family and multifamily homes, along with several community churches. The Edgehill neighborhood is symbolized by two playful snowball throwing Polar Bear statues that once stood at a popular frozen custard shop in the 1930s. These bears have popped up all over the neighborhood in recent years, most notably in the neighborhood signage.
Just south of downtown, Edgehill borders historic Music Row and The Gulch, the once-abandoned industrial area that has undergone an urban revitalization in recent years sparking new energy. The exceedingly walkable LEED-certified neighborhood is teeming with boutique hotels, high-rise condos, Instagrammable murals, shops, live music venues, breweries, and diverse culinary offerings spanning everything from biscuits and Nashville Hot Chicken to Detroit-style pizza, traditional ramen, and Indian food. Additionally, this community will be located near two prestigious universities, Vanderbilt University and Belmont University.
“Our goal for this community is that NOVEL Edgehill will embrace the Edgehill neighborhood in a very authentic way, by creating places for people to connect and acting as a “third place” that doesn’t exist in this part of the neighborhood today. We are seeking to embrace those new Nashvillians who are coming to the city not just for the character and experience, but for the increasingly diverse and global workplace it is becoming.” said Ben Collins, Senior Managing Director for the West region of Crescent Communities’ multifamily business.
In addition to traditional amenities, NOVEL Edgehill will offer 6,000 square feet of retail space, including a café from strategic partner, Land of a Thousand Hill Coffee, and dedicated co-working space. NOVEL Edgehill will feature a host of high-end community amenities such as a rooftop sky lounge and pool deck offering commanding views of the downtown Nashville skyline. The community is also pursuing National Green Building Standard (NGBS) certification.
“NOVEL Edgehill was an experiential project for our team, and we are thrilled to work closely with Crescent Communities to create a space that offers unobstructed views of downtown Nashville as well as luxury amenities,” said Khris Pascarella, Principal at Pearl Street Partners. “With features such as a heated spa and pool and outdoor dining area with a fire pit, we look forward to providing residents with a high-rise experience without high-rise prices.”
For the last two decades, Crescent Communities has been actively investing in the Nashville mixed-use, office, and multifamily market and is currently the largest multifamily developer in Nashville with over 2,236 units developed and a total investment of $422.5 million. This will be the sixth community where Crescent Communities and Pearl Street Partners have collaborated. They have successfully completed multifamily and mixed-use communities throughout middle Tennessee, including recently sold NOVEL Lockwood Glen, NOVEL Music Row, and NOVEL Bellevue Place. NOVEL West Nashville is now leasing and offers 435 residences. Additionally, Crescent Communities has announced plans for Bigby, a mixed use development that will include 350,000 square feet of Class A office and retail space and 330 planned multifamily units in the heart of the Cool Springs submarket.
Imagery and logos of NOVEL Edgehill are available HERE (credit Crescent Communities).
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 59 multifamily communities, 21 million square feet of commercial space and 60 single family master-planned communities. Headquartered in Charlotte, Crescent Communities has regional offices in Washington, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our multifamily communities are branded NOVEL by Crescent Communities.
About Pearl Street Partners
Pearl Street was started in 2005 by Khris Pascarella, a development professional with more than 30 years of experience creating communities throughout the southeast United States. Since the company’s beginning, Pearl Street has contributed to the planning, construction and completion of more than $500 million of real estate investments in the Nashville metropolitan area.