CRESCENT COMMUNITIES NOW LEASING MULTIFAMILY COMMUNITY IN VIBRANT ATHERTON

  • 07/24/2019

NOVEL Atherton offers upscale living amid a dynamic retail mix

Charlotte, NC - (July 24, 2019)Crescent Communities is now leasing their newest multifamily and mixed-use community in the heart of historic South End. NOVEL Atherton by Crescent Communities is a unique mid-rise community that features 346 residences and provides easy access to retail, dining, and light-rail travel. Crescent Communities partnered with Columbia, SC based EDENS to revitalize the Atherton Mill site, which includes more than 110,000 square feet of curated retail space surrounding the apartment community. Several notable retailers are already in place or have announced their plans including Anthropologie, Free People, O-Ku, Luna’s Living Kitchen, INDACO, Warby Parker, West Elm, Barry’s Bootcamp, Sephora, drybar, Madewell, CAVA, and Legion Brewing.

“There is an incredible amount of momentum and energy in the South End neighborhood right now with exciting new office, retail and restaurant announcements occurring on a daily basis,” commented Michael Tubridy, Managing Director for Crescent Communities.  “This irreplaceable location provided us a unique opportunity to combine an amenity-rich community with the convenience of transit-oriented, mixed-use living.  Novel Atherton will deliver a living experience that complements this energy, and we are eager to welcome residents to enjoy living in the heart and hub of the ‘new’ historic South End.”

In addition to a highly desirable location in the heart of the South End neighborhood and adjacent to the light rail, NOVEL Atherton offers residents high-end finishes and luxury amenities.  The community features a heated saltwater pool with tanning ledge overlooking the Uptown Charlotte skyline. The two-story resident clubroom features a café and coworking space.  On the second floor, residents can take in skyline views while enjoying the gaming tables, library, and craft cocktail bar.  A private resident courtyard offers outdoor coworking space and café seating under a shaded tree canopy.  The third resident courtyard features an outdoor kitchen, fireplace and activity lawn adorned with festoon lighting. The community also boasts a two-story, 3,000 square foot fitness club with Matrix cardio equipment, weights, Peloton bikes, and a group fitness area.  Individual residences feature high-tech keyless entry, programmable thermostats, USB ports and direct high-speed fiber internet service to each apartment.  Well-appointed kitchens feature white quartz countertops, restaurant-grade sinks, large islands with stylish pendant lighting, and stainless appliances including French-door refrigerators and slide-in front-control ranges.  Spacious bathrooms feature large-format porcelain tile, oversized walk-in showers with semi-frameless glass doors and rain showerheads, and large walk-in closets with custom built-in shelving.

NOVEL Atherton is one of five multifamily communities the company has under construction or in lease-up in Charlotte, totaling more than 1,750 units, all with a focus on access to walkable mixed-use and retail offerings. Both NOVEL Stonewall Station and NOVEL NoDa are approaching stabilization. NOVEL Montford Park welcomed their first residents in April, while NOVEL Research Park welcomed first residents in February. More broadly, the company has a growing national multifamily and mixed-use footprint, including 6,800 apartment units and 350,000 SF of retail under construction and in operations, representing a total investment of $1.8 billion.

Construction financing for NOVEL Atherton was provided by BMO Harris Bank and Aquesta Bank. Dwell Design Studio and Historical Concepts are the project architects and Summit Contracting Group is the project’s general contractor. Interior Design was provided by INTEC Group and Landscape and Site design by LandDesign and Mahan Rykiel. Greystar 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 many of the fastest growing markets in the Southeast and Southwest. Since 1963, Crescent’s development portfolio has included more than 57 multifamily communities, 20 million square feet of commercial space and 60 single family master-planned communities.