Crescent Communities Expands Build-to-Rent Portfolio with First Florida HARMON Property in Tampa Suburbs
TAMPA, FL (July 21, 2025): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities, today announced the land closing at its newest single-family build-to-rent development, HARMON Ashton Oaks, the sixth and final community in the first tranche of Crescent’s recently expanded joint venture with an account managed by Heitman LLC. With 115 three- and four-bedroom two-story townhomes averaging over 1,800 square feet per residence, HARMON Ashton Oaks – Crescent's first HARMON property in the greater Tampa market – is set to welcome its first residents in 2026.
Designed for young couples, growing families, empty nesters, pet parents, and more, HARMON Ashton Oaks delivers a lifestyle that combines the freedom and flexibility of renting with the space, privacy, and design of single-family living. Each townhome features thoughtfully crafted interiors with generous square footage, two-car garages, upgraded design elements, modern appliances, and private yards. Community amenities are tailored for active, social lifestyles and include a sports field that doubles as an event lawn, a sparkling resort-style pool with cabanas and grills, a pool pavilion, and a spacious dog park. Residents will also enjoy a robust calendar of family-friendly programming – from field days and pool parties to movie nights and seasonal celebrations – that fosters a sense of connection, making it easy for neighbors to become friends and families to feel right at home.
Situated on 28 acres at the intersection of State Road 54 and Ashton Oaks Boulevard, HARMON Ashton Oaks is located in Wesley Chapel, one of Tampa’s most desirable and fastest-growing suburbs. Known for its welcoming, family-oriented atmosphere, Wesley Chapel offers convenient access to top-tier health care providers like AdventHealth and BayCare, renowned leisure destinations including Saddlebrook Resort and Epperson Lagoon, and retail and dining at The Shops at Wiregrass.
“Through our partnership with Heitman, HARMON Ashton Oaks will introduce a new standard of rental living to the Tampa market – one that combines the comforts of a single-family home with the ease, energy, and connection of a professionally managed community,” said Tony Chen, Senior Managing Director of Single-Family Build-to-Rent at Crescent Communities. “Building on the success of NOVEL Independence Park and NOVEL Beach Park, our multifamily communities in Tampa’s urban core, we’re now expanding into vibrant suburban destinations like Wesley Chapel, places that offer the perfect blend of neighborhood charm, modern convenience, and strong resident ties. It’s a natural next step as we continue to reimagine what exceptional rental living can look like across the region.”
The project’s equity partner is an account managed by Heitman LLC as part of a programmatic joint venture with Crescent Communities. After announcing the initial investment in May 2024, Heitman and Crescent Communities expanded its commitment from $235 to $345 million, reflecting the growing demand for high-quality built-to-rent communities in key Sunbelt growth markets. In addition to HARMON Ashton Oaks, the joint venture's first tranche of investments includes HARMON West Meade in Nashville, TN; HARMON Jefferson Village in Greensboro, NC; HARMON Melissa in Dallas; HARMON Ascend in Phoenix; and HARMON Cedar Run in Atlanta.
DRB Group, a Sumitomo Forestry Co., Ltd affiliate company will serve as the development’s homebuilder. Crescent Communities is also an affiliate of Sumitomo Forestry Co., Ltd.
HARMON Ashton Oaks marks Crescent Communities’ ninth multifamily investment in the Tampa market. In February, Crescent celebrated the grand opening of NOVEL Independence Park in the Westshore District, and its other actively leasing multifamily community in urban Tampa, NOVEL Beach Park, opened in June 2024. Crescent is also currently leasing at RENDER Legacy Trail in Nokomis. Its legacy communities in the region include NOVEL Midtown Tampa; NOVEL Riverwalk, now Anchor Riverwalk; Crescent Westshore, now Society Westshore; Crescent Bayshore, now 2bayshore; and Crescent Crosstown, now Bridges at Crosstown.
Nationwide, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments in various stages of construction, operations, and planning. That pipeline includes 15,300 multi- and single-family build-to-rent units; 58,000 square feet of complementary retail space; and 7.5 million square feet of office, industrial, and life-sciences facilities. With a focus on environmental sustainability and wellness, Crescent Communities is a leading recipient of LEED, NGBS (National Green Building Standard), Fitwel, and WELL certifications.
Renderings of HARMON Ashton Oaks are linked 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 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 95 multifamily communities and 26 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.
