CHARLOTTE, N.C. - (Feb. 27, 2019) – Crescent Communities is now leasing their latest multifamily community in Charlotte’s thriving tech hub, University Research Park. NOVEL Research Park by Crescent Communities is a luxury apartment community with extensive outdoor amenities, appealing modern farmhouse architectural design, and a convenient location minutes from the area’s major employment centers and retail.
Located at the intersection of W. Mallard Creek Church Rd. and Senator Royall Place, NOVEL Research Park brings much needed housing to University Research Park in an ideal location directly across from a vibrant mix of retail and dining options, and in close proximity to the University of North Carolina Charlotte (UNCC) and many of the area’s major employers. An amenity-rich, resort-style neighborhood nestled in a wooded natural setting, Novel Research Park is situated near the UNC Charlotte Main Station of the LYNX Blue Line extension, offering residents quick and easy travel between nearby neighborhoods like NoDa, Uptown and South End.
“We are excited to return to the dynamic University City area of Charlotte. I was pleased to be on the team that developed Crescent Alexander Village a few years ago, and the area has become one of the most sought-after locations to live in Charlotte,” said Michael Tubridy, Managing Director with Crescent Communities. “The design, location, and rich amenities of NOVEL Research Park have proven to be well-received by members of the community who live and work in the area already, and who appreciate a relaxed lifestyle and sense of community just minutes from employment centers and lifestyle retail options.”
Comprised of 280 one-, two- and three-bedroom apartment homes, NOVEL Research Park is designed to link the convenience and maintenance-free experience of a multifamily community with the enjoyment of backyard living offered in a single-family residence. A nature trail that winds through the community and many other outdoor living features blend seamlessly into the natural setting to create a sense of community that is unique to the multifamily experience.
With an emphasis on thoughtful exterior architecture, welcoming gathering spaces, and appealing individual residences, NOVEL Research Park offers the clean and classic appeal of modern farmhouse design elements throughout. Amenities include a heated resort-style saltwater pool, multiple outdoor grilling areas and fire pits, outdoor game yard, hammock garden, bike-share system, and a fitness center complete with a yoga/fitness studio and separate child play area. A pet-friendly community, select apartment homes offer private fenced pet yards, and all residents have access to two dog parks, separated for large- and small-breed dogs. At the same time, a pet-free building is available. While walkable to several of the area’s largest employers, NOVEL Research Park offers 2,500 square feet of creative, drop-in co-working space with a stocked coffee bar, Wi-Fi, and private work pods, making the community ideal for working remotely.
NOVEL Research Park is one of five multifamily communities the company has under construction or in lease-up in Charlotte, totaling more than 1700 units, all with a focus on access to walkable mixed-use and retail offerings. Both NOVEL Stonewall Station and NOVEL NoDa are located near Uptown Charlotte and are approaching stabilization. NOVEL Montford Park in the Montford Park neighborhood, and NOVEL Atherton in South End will be preleasing in 2019. More broadly, the company has a growing multifamily footprint, including 6,000 units under construction and in operations, representing a total investment of $1.5 billion.
Crescent Communities developed the project in partnership with Phoenix Capital Partners with construction financing provided by Santander Bank. Cline Design Associates is the project architect and Crescent Multifamily Construction is serving as the general contractor. RKW Residential is serving as the property management company.
About Crescent Communities
Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of multifamily, commercial and mixed-use communities. Crescent creates high-quality, differentiated communities in desirable locations in many of the fastest growing markets in the Southeast and Southwest. Since the company was founded in 1963, Crescent’s development portfolio has included more than 60 single family master-planned communities, 43 multifamily communities and nearly 21 million square feet of commercial space. Its multifamily communities are branded NOVEL by Crescent Communities. For more information, visit www.crescentcommunities.com.
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