CRESCENT COMMUNITIES AND FCP ANNOUNCE NEW MULTIFAMILY COMMUNITY IN SOUTH SARASOTA

  • 03/29/2022

SARASOTA, FL (March 29, 2022) Crescent Communities and FCP® announce a joint venture for the development of RENDER Legacy Trail, the second such partnership between the two companies this year. Located at 15560 Render Way, between Sarasota and downtown Venice, the 19.5-acre community will feature 450 for-rent multifamily residences.

RENDER by Crescent Communities is the company’s foray into the mid-market multifamily business. The brand is designed to appeal to residents who appreciate the ease and convenience of suburban living but who also value design, functional spaces, and communities infused with local character. This marks the seventh investment in the Tampa-St Petersburg market by Crescent Communities.

“We are excited to continue the evolution of our multifamily products by introducing RENDER to the Florida market,” said Tim Graff, Managing Director of Florida for Crescent Communities’ multifamily business. “RENDER offers residents thoughtfully crafted communities that are rich in character at a more approachable price point. RENDER Legacy Trail will be part of a larger master-planned community with additional residential offerings, including the forthcoming HARMON Legacy Trail, Crescent Communities’ BTR (build-to-rent) offering, and more than five acres of future retail space.”

RENDER Legacy Trail offers residents the opportunity to live just minutes from the beach as well as conveniences like the grocery store and I-75. The community is located in a highly rated school district and adjacent to the Legacy Trail, a 20+ mile path connecting downtown Sarasota to downtown Venice, and is within close proximity to Nokomis Beach and Oscar Sherer Park.

“FCP is excited to partner with Crescent Communities on this exciting new development,” said Bruce Gago, head of FCP’s Florida office. “Sarasota has experienced strong job growth and continued substantial in-migration that has only accelerated during the pandemic. The new apartments will help alleviate the significant housing shortage in Sarasota County, while providing its residents with a best-in-class living experience and amenities.”

Community amenities will focus on delivering what matters most to residents and their needs and encouraging a highly social and energetic environment. Offerings will include a centralized lobby and leasing area, self-service package area, fitness center, and multipurpose rooms that can serve as coworking lounges. Abundant outdoor space will provide opportunities for residents to grill, dine, socialize, swim, and relax.

Residences at RENDER Legacy Trail will feature functional design elements that will intentionally contribute to the space’s overall feel of a home, rather than a typical apartment unit. These details will include entryway mudrooms with built-in storage, home office workspaces separate from the living room and kitchen, and enhanced closet systems to provide added in-home organization. Configurations from one- to three- bedrooms will be available.

Kaufman Lynn will oversee construction, with architecture led by Dwell Design Studio. Additional partners include civil engineer Kimley-Horn, landscape architect LandDesign, and engineering by EM Structural and Jordan & Skala Engineers.

Crescent Communities continues to experience significant growth with $6.7 billion of residential and commercial investments and developments currently under construction, operations and planning including 14,300 units of multifamily / single family build-to-rent, 200,000 square feet of complementary retail, and 8.5 million square feet of office, industrial and life-sciences.  With a focus on sustainable development practices, the organization pursues USGBC LEED certification for commercial spaces and NGBS certification for multifamily residences.

Additional details surrounding the forthcoming RENDER community will be announced at a later date. A rendering is available here, and the RENDER logo is available here.

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 74 multifamily communities, 24 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 residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities.

About FCP

FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.