Crescent Communities
 | |
Formerly called |
South Carolina Land and Timber (1963) Crescent Land and Timber (1969) Crescent Resources (mid-80s) |
|---|---|
| Private Corporation | |
| Industry | Residential and Commercial Real Estate |
| Headquarters | Charlotte, North Carolina, U.S. |
Key people | |
| Total assets | US$1 billion+ (2016) |
Number of employees | 166 |
| Subsidiaries | Fielding Homes |
| Website |
http://www.crescentcommunities.com/ http://www.fieldinghomes.com |
Crescent Communities is an American residential and commercial real estate company, with headquarters in Charlotte, North Carolina. It has approximately 166 employees.[1] As of February 2016, Crescent has more than $1 billion in assets under management.[2] Crescent Communities is seventh in the amount of land owned in Gaston County, North Carolina with 1686.18 acres. Its Gaston holdings include acres of undeveloped land at the Lincoln County, North Carolina line, west of Killian Cemetery, and a plot south of Mountain Island Park as well as a gas station and warehouse at Caldwell and Beatty drives in Mount Holly, North Carolina. The company aims to sell its Gaston County property portfolio which it almost entirely inherited from its Duke Energy origins.[3]
History
In 1939, Duke Power (now Duke Energy) established a forestry department to manage company land not used for power generation. In 1963 this department became the company South Carolina Land and Timber. As the holdings expanded to include land in North Carolina, the organization was renamed Crescent Land and Timber in 1969. Some of the original land was sold to Crescent Land and Timber by the Singer Corporation.[4]
In the mid-1980s the company was renamed Crescent Resources as it began to actively develop residential communities. Crescent Resources began work on its first commercial development, Coliseum Centre,[5] in 1990. As of 1991, Crescent Resources managed 270,000 acres of land.[6] Holdings included part of what became Lake James State Park, which it later sold to the state of North Carolina.
Crescent Resources became a separate entity from Duke Energy in 2006[7] with Duke Energy selling its 49% stake to Morgan Stanley.[8] Crescent Resources filed for bankruptcy in 2009 and has emerged from it separated from the utility company.[3] The company aimed to rebrand itself, renaming itself "Crescent Communities" in 2013.[9]
Homebuilding business
In an attempt to cash in on the increasing housing demand in Charlotte, Crescent Communities has launched a new division that will construct single-family houses. They have named the new division Fielding Homes. Crescent will start its single-family construction in a new subdivision it is developing just south of Charlotte, at Masons Bend in Fort Mill, South Carolina. The company will build 64 single-family houses at Masons Bend, which at completion will total 650 houses near Interstate 77’s crossing over the Catawba River.[10]
Project portfolio
- Potomac Yard, a mixed-use development in Alexandria, Virginia[11]
- Phipps Tower, a 20-story office tower in Atlanta, Georgia[12]
- The Peninsula, a 900-lot golf community in Lake Norman, North Carolina[13]
- Coliseum Centre, a six-building office park in Charlotte, North Carolina[14]
- Tryon Place is a $300+ million mixed-use project in Charlotte, North Carolina[15]
- Palmetto Bluff, a 20,000-acre master planned community in Bluffton, South Carolina[16]
- Crescent Music Row, a 275-unit luxury apartment building in Music Row, Nashville, Tennessee[17]
- One Greenway Centre, a 154,000-square-foot office building in Nashville, Tennessee[18]
- The Groves, a 2,200-home master-planned community in Lake Houston, north of Houston, Texas[19]
- Rough Hollow, Lakeway, master-planned community of more than 1,800 acres in Austin, Texas[20]
- Belterra, a 1,600-acre master-planned community in Austin, Texas[21]
- Bryson, a 500-acre master-planned community in Leander, Texas[22]
- Crescent Scottsdale Quarter, a 275-unit apartment community in Scottsdale, Arizona[23]
See also
External links
References
- ↑ "Inc. Crescent Communities Profile". Inc. Retrieved January 11, 2016.
- ↑ Kusisto, Laura. "Crescent Communities to Launch Home-Building Business". The Wall Street Journal. Retrieved June 29, 2016.
- 1 2 Dumont, Nick; Millward, Wade Tyler. "Who owns Gaston County?". Retrieved August 9, 2016.
- ↑ Rankin, Daniel. "RESOURCE MANAGEMENT PLAN FOR JOCASSEE GORGES PROPERTY, OCONEE AND PICKENS COUNTIES, SOUTH CAROLINA". nr.sc.gov. South Carolina Department of Natural Resources. Retrieved April 18, 2016.
- ↑ Boye, Will. "Charlotte's Coliseum Centre complex is being marketed for sale". Charlotte Business Journal. Retrieved November 2, 2015.
- ↑ Skoog, Joanne. "Charlotte, N.C.; Energizing Golf Projects". The New York Times. Retrieved April 18, 2016.
- ↑ Smith, Justin (October 24, 2014). "Forgotten Land". The Charlotte Observer. Retrieved November 2, 2015.
- ↑ "Duke Energy Sells Stake in Crescent Resources". Skadden. Retrieved April 18, 2016.
- ↑ Boye, Will (April 2, 2013). "Crescent Resources changes name to Crescent Communities". Charlotte Business Journal. Retrieved November 2, 2015.
- ↑ "Crescent Communities is getting into the homebuilding business". Retrieved August 9, 2016.
- ↑ "Background - Potomac Yard Development". City of Alexandria, Virginia. Retrieved August 9, 2016.
- ↑ Sams, Douglas (December 13, 2007). "New office tower for Buckhead". Atlanta Business Chronicle.
- ↑ Campbell, Spencer (April 2013). "What's in a name?". Business North Carolina. Archived from the original on December 31, 2014.
- ↑ Boye, Will (April 20, 2012). "Charlotte's Coliseum Centre sells for $100 million". Charlotte Business Journal. Retrieved November 2, 2015.
- ↑ "Crescent Communities selling Tryon Place with chefs, high culture". The Charlotte Observer. Retrieved August 9, 2016.
- ↑ "Crescent Communities Plans Further Expansion For Coastal SC's Palmetto Bluff". Southeast Discovery. Retrieved November 2, 2015.
- ↑ "Crescent Music Row luxury apartments to break ground next month". The Tennessean. Retrieved August 9, 2016.
- ↑ Snyder, Eric (January 17, 2011). "One Greenway Centre sold in Cool Springs". Nashville Business Journal. Retrieved November 2, 2015.
- ↑ Takahashi, Paul. "New Lake Houston-area community opens". Houston Business Journal. Retrieved November 13, 2015.
- ↑ "Developers Select Builders for Austin-Area Community". Builder Online. Retrieved August 9, 2016.
- ↑ Feser, Katherine (October 29, 2015). "Trendmaker Homes ventures outside of Houston". Houston Chronicle. Retrieved November 13, 2015.
- ↑ Staff report. "Groundbreaking ceremony for Wildridge to be held July 9". Lewisville Leader. Retrieved August 9, 2016.
- ↑ Drummer, Randyl. "Crescent Breaks Ground On $61M Apartment Community". CoStar News. Retrieved November 13, 2015.