SALT LAKE CITY, UT (July 19, 2021) – Crescent Communities, along with financial partner MAA, is proud to announce the groundbreaking of a new multifamily community in South Jordan’s Daybreak community, the highly desirable suburb of Salt Lake City. NOVEL Daybreak by Crescent Communities, located at 5502 South Jordan Parkway, will include 400 apartment residences and an integrated Land of a Thousand Hills Coffee and Social House. The groundbreaking was held on Thursday, July 15.
NOVEL Daybreak will provide residents a place to live that is active, dynamic, and fun. Nestled within the existing master-planned community, Daybreak, the NOVEL community will complement the surrounding area while delivering a truly fresh experience. Crescent Communities and MAA purchased the land from Larry H. Miller Real Estate in April 2021. Preleasing will begin in August 2022, with first residences slated to be delivered in the fourth quarter of 2022.
“We were excited to break ground on NOVEL Daybreak, a community that will appeal to a variety of South Jordan residents that seek an active and engaged lifestyle,” said Ben Krasnow, Managing Director for Crescent Communities. “With desirable amenities and programming, this quality community will elevate the resident experience within the Wasatch Front. Additionally, Crescent Communities continues to pursue new sites in the Salt Lake City market in order to bring our differentiated multifamily residential communities to this fast-growing area.”
In addition to offering a mix of studios, 1-bedrooms and 2-bedrooms, NOVEL Daybreak will feature “The Hive,” which will serve as the central hub and gathering place. From a morning cup of coffee at Land of a Thousand Hills’ shop, to a midday workout class, to board game and karaoke nights, residents – and their guests – will have an array of programming and amenities to fit their individual lifestyles. The community will also cater to residents who work from home with coworking-inspired spaces, indoor-outdoor lounges, and whole-building connectivity.
NOVEL Daybreak is situated adjacent to the South Jordan Parkway TRAX Station providing a direct connection to Salt Lake City, The University of Utah, the Salt Lake International Airport and Daybreak’s own SoDa Row. NOVEL Daybreak is also woven into Daybreak’s intricate trail system. Residents will be able to head out for a run, wander down to Oquirrh Lake with a friend and a fishing pole or jump on their bike for a quick ride.
“The groundbreaking of NOVEL Daybreak marked our debut to the Salt Lake City market. The strong job growth and overall quality of life here continue to attract residents as it has attracted us,” said Brad Hill, Executive Vice President of Multifamily Investing for MAA. “We, along with Crescent Communities, are thrilled to see this amenity-packed community take shape and know it will be an excellent fit for the city’s active and connected lifestyles.”
Design and construction partners include Craine Architecture and Kier Construction. Construction financing will be provided by MAA.
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.
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 primarily in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of March 31, 2021, 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.