Charlotte, NC - (November 4, 2019) – Crescent Communities is pleased to welcome the first residents home to their 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 over 110,000 total square feet of curated retail space at the doorstep of the community. Several notable retailers are already in place including Anthropologie, Free People, O-Ku, Luna’s Living Kitchen, and Warby Parker. The current development brings a number of notable and unique concepts to Atherton’s already stellar retail lineup including Charleston’s hit Italian concept INDACO, popular Mediterranean fast-casual restaurant CAVA, fashion from favorites like Lulu Lemon, Madewell and Bonobos, along with West Elm, Sephora, drybar, and Barry’s Bootcamp among others. Legion Brewing has also announced that they will be converting the historic Trolley barn along the rail trail into a nearly 8,000 square foot restaurant and brewery concept dubbed the Trolley Barn Fermentory.
“There has been an incredible amount of excitement and energy surrounding this community,” commented Michael Tubridy, Managing Director for Crescent Communities. “Early leasing demand has been exceptional. Residents are excited to live in this transit-oriented community with so many retail and entertainment offerings right at their front door. The level of resident amenities coupled with the diverse walkable retail options are unparalleled in the greater Charlotte area. 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 two-story resident lounge fully equipped with a catering kitchen, café and coworking space. On the second floor, residents can take in skyline views while enjoying the gaming tables, library, and craft cocktail bar. Just outside, resident have access to an elevated, heated saltwater pool with tanning ledge overlooking the Uptown Charlotte skyline. A second resident courtyard offers outdoor coworking space and café seating under a shaded tree canopy. The third resident courtyard features an outdoor kitchen, feature 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 with adjacent access directly onto the rail trail. For our furry residents, NOVEL Atherton offers a spacious fully fenced rooftop park with large shade structures, drinking fountains and a pet wash station.
Individual residences within the building feature a technology package including app controlled keyless entry doors, programmable thermostats, USB ports and direct high-speed fiber internet service to each apartment home. Well-appointed kitchens feature white quartz countertops, painted wood paneled cabinetry with soft-close doors and drawers and built-in trash and recycling storage, restaurant-grade sinks, large islands with stylish pendant lighting, and stainless appliances including French-door refrigerators and slide-in front-control ranges. Bleached-oak style plank flooring throughout the living areas leads to spacious bathrooms featuring large-format porcelain tile, oversized walk-in showers with semi-frameless glass doors and rain showerheads. All residences are also outfitted with full-size front-load washers and dryers and spacious walk-in closets with custom built-in shelving.
NOVEL Atherton is one of five multifamily communities the company has planned, under construction or in lease-up in Charlotte, totaling more than 1,600 residences, many with immediate transit access and walkable mixed-use and retail offerings. NOVEL Montford Park welcomed their first residents in April, while first residents moved into NOVEL Research Park in February. NOVEL LoSo Station is expected to begin construction by the end of the year and NOVEL University Place will break ground in the late spring 2020. More broadly, the company has a growing national multifamily and mixed-use footprint, including 5,111 apartments and 278,000 SF of retail under construction and in operations, representing a total investment of $1.4 billion. Crescent Communities has a growing commercial footprint as well, with 1.5 million square feet of office, 56,000 square feet of retail, and nearly 500,000 square feet of industrial space under construction, representing an investment of more than $500 million.
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 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, the Crescent Communities development portfolio has included more than 57 multifamily communities, 20 million square feet of commercial space and 60 single family master-planned communities. Our multifamily communities are branded NOVEL by Crescent Communities.
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