Crescent Communities Closes on Land for NOVEL Norterra in Northern Phoenix
PHOENIX (July 21, 2026) – Crescent Communities, a nationally recognized real estate investor, developer, and operator of mixed-use communities, today announced the land close for NOVEL Norterra, a new four-story multifamily community planned in northern Phoenix, Arizona. Situated on an 8.5-acre site just east of I-17, within the Norterra neighborhood, the development will include 248 for-rent residences in a rapidly growing corridor near major employment, including the TSMC Arizona semiconductor manufacturing complex, retail, and outdoor destinations. Construction is scheduled to begin in July 2026, with first move-ins anticipated in Spring 2028.
NOVEL Norterra is a part of the Norterra neighborhood, a master plan of nearly 600 acres of commercial, retail, community, and residential uses. NOVEL Norterra is located within walking distance of the Shops at Norterra lifestyle center and adjacent to a retail center anchored by Fry’s Food & Drug, offering residents convenient access to everyday needs as well as a range of dining, shopping, and entertainment options. The community sits within one of northern Phoenix’s fastest-growing areas, near major employers including the aforementioned TSMC semiconductor fabrication campus and the USAA regional headquarters campus, both of which continue to draw new workers and investment to the region.
“Northern Phoenix is experiencing remarkable growth, driven by significant employment investment and a lifestyle that blends urban convenience with access to Arizona’s incredible outdoor destinations,” said Ken Keefe, Managing Director for Arizona at Crescent Communities. “NOVEL Norterra is designed to embrace that dynamic, creating a community where residents can enjoy walkability, social connection, and a strong sense of place in one of the Valley’s most exciting and evolving submarkets.”
NOVEL Norterra’s design emphasizes walkability and outdoor living, reflecting the lifestyle that has drawn residents from across the country to the Phoenix area. Planned amenities include a clubhouse, a pool courtyard anchored by a 1,822-square-foot pool and spa with cabanas and fire features, a fully shaded pickleball court and a dog park, along with additional outdoor cooking, dining, and gathering areas and landscaped spaces that encourage residents to spend time outside. The site plan also incorporates pedestrian pathways intended to connect residents to nearby retail and community destinations.
Beyond the immediate neighborhood, residents will benefit from convenient access to I-17 and getaways north, including some of Arizona’s most beloved outdoor landmarks, including Lake Pleasant, Sedona, and Flagstaff, as well as hiking, biking, and recreation opportunities throughout the region.
The land close at NOVEL Norterra marks the first project in Crescent Communities Construction’s westward expansion.
“Breaking ground on NOVEL Norterra represents an exciting milestone for Crescent Communities Construction as we expand our footprint into the western United States,” said Daniel Cooper, President of Construction at Crescent Communities. “Phoenix is one of the country’s most dynamic growth markets, and this project reflects our confidence in the region’s long-term potential as well as our commitment to delivering high-quality communities in places where people want to live, work and thrive.”
Partners include, NEC Capital Solutions Limited, Sumitomo Mitsui Trust Panasonic Finance Co. LTD, additional Japanese investment, and UMB Financial Corporation.
More broadly in the region, Crescent’s pipeline in Phoenix includes NOVEL Heritage Park in Gilbert, the multifamily component to its Heritage Park mixed-use development and the build-to-rent HARMON Ascend. Its legacy properties include NOVEL Val Vista, NOVEL Midtown Phoenix, now MAA Midtown Phoenix; NOVEL Rio, now Trovita Rio; Crescent Highland, now Art on Highland; and Crescent Scottsdale Quarter, now Broadstone Scottsdale Quarter.
View renderings of NOVEL Norterra here.
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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 specialize in place-making and create high-quality, differentiated multifamily and commercial developments in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 95 multifamily communities, 26 million square feet of commercial space and over 60 master planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Austin, Denver, and Phoenix. Our multifamily communities are branded NOVEL (urban), and HARMON (build-to-rent) and our commercial developments are branded AXIAL (industrial), THE YIELD (life science) and BOWER (office).
