Sale of NOVEL Independence Park Marks Continued Momentum for Crescent Communities in Tampa
TAMPA, Florida (Jan. 15, 2026): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities, today announced the sale of NOVEL Independence Park, a 277-unit multifamily community in Tampa’s Westshore District. Apollo Global Management purchased the asset.
Situated just minutes from International Plaza and Tampa International Airport, NOVEL Independence Park has quickly become one of Westshore’s most desirable residential destinations since opening in summer 2024. Designed to offer an elevated “escape from the everyday,” the community pairs resort-inspired amenities with NOVEL’s signature modern design and strong attention to detail.
“NOVEL Independence Park has been an exceptional performer for us, pairing an irreplaceable Westshore location with thoughtfully crafted, resort-inspired amenities,” said Greg Minder, Central Florida Managing Director at Crescent Communities. “This sale reflects the strong demand we continue to see for well-designed communities across Tampa, and it allows us to reinvest in the next wave of multifamily growth throughout Central Florida.”
NOVEL Independence Park features a mix of studio, one-, two-, and three-bedroom residences across three five-story buildings. Each home includes spacious layouts, contemporary finishes, stainless steel appliances, and full-size washers and dryers. The community’s location and lifestyle programming have positioned it as a standout asset within Tampa’s most connected business, retail, and entertainment corridor.
Designed with an amenity suite to deliver both energy and reprieve, residents have access to a resort-style saltwater pool with cabanas and outdoor lounge space; a pickleball court for year-round friendly competition; a sky deck with sunset views ideal for gatherings and outdoor dining; a flex fitness studio supporting yoga, spin, and mobility-focused classes; a state-of-the-art fitness center with premium cardio and training equipment; indoor and outdoor coworking spaces and private work nooks; a pedestrian nature trail, connecting residents to nearby green spaces; and a shaded dog park with pet-friendly design.
More broadly in Florida, Crescent Communities recently announced the appointment of local real estate veteran Greg Minder to chart the course for strategy, development, and execution across Crescent’s growing multifamily presence in Tampa, Orlando, and Jacksonville. In Tampa, currently leasing communities include RENDER Legacy Trail in Sarasota; NOVEL Beach Park, a premium high-rise community near Tampa Bay; and NOVEL Independence Park, a mixed-use residential community in the Westshore District. In Orlando, Crescent’s footprint includes NOVEL Parkway, a walkable, village-style community along International Parkway, following the recent sale of NOVEL Nona. Crescent also recently broke ground on HARMON Ashton Oaks in the Tampa suburbs, which is set to welcome its first residents in 2026.
Financial partners include U.S. real estate investment manager CP Capital US and Truist as the lender. Other partners include architecture firm Dwell Design Studio, civil engineer Haiff Associates, landscape architect LandDesign, interior designer Vignette Interior Design, and general contractor CBG Construction.
Nationwide, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments in various stages of construction, operations, and planning. That pipeline includes 15,300 multi- and single-family build-to-rent units; 58,000 square feet of complementary retail space; and 7.5 million square feet of office, industrial, and life-sciences facilities. Crescent Communities is a leading recipient of LEED, NGBS (National Green Building Standard), Fitwel, and WELL certifications.
Photos of NOVEL Independence Park are linked here.
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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, our development portfolio has included more than 86 multifamily communities and 25 million square feet of commercial space. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, and Phoenix. Our multifamily communities are branded NOVEL, RENDER, and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life science developments are branded THE YIELD by Crescent Communities.
