$52M Luxury Apartment Community Breaks Ground
- Jun 15, 2012
By Eliza Theiss, Associate Editor
Crescent Resources LLC has recently broken ground on its newest project: the $52 million luxury apartment community—Circle South Park—in Charlotte’s South Park neighborhood. Developers expect the first apartments to go on the market by the summer next year.
Located near SouthPark mall on Carnegie Boulevard right next to Piedmont Town Center, the 321-unit apartment community will be made up of studio apartments as well as one-, two- and three-bedroom units. Apartments will feature stainless steel appliances, washer and dryer, stone countertops, wood cabinetry, Moen fixtures and a designer lighting package.
Community amenities will include a cyber lounge, business center, state-of-the-art clubroom with a show kitchen and gaming area, multistory health club, resort-style saltwater pool with an aqua sundeck, outdoor kitchen with a lounging area, two-acre dog park and a scenic pond with a walking trail. All amenity areas will include complimentary Wi-Fi.
“Like other Circle communities, Circle South Park will offer a unique lifestyle and provide residents with an opportunity to live, work and play within easy walking distances,” Brian Natwick, president of Crescent Resources’ multifamily division, said in a press release. Keeping in line with the Circle community lifestyle, the South Park community will offer unique programming—such as volunteering and pet happy hours—to build a sense of community among residents and enrich their social experiences within the community.
Circle South Park will keep in line with Circle’s green guidelines and will be seeking Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council upon completion.
Financing for the multifamily project is being provided by a Crescent equity investment, with construction financing from J.P Morgan Real Estate Banking and mezzanine financing from Nationwide Real Estate Investments. The Preston Leadership LLC is the project’s architect, while landscape architecture has been signed by LandDesign.
The interior design was envisioned by Vignette Interior Design, and civil engineering is being provided by ColeJenest & Stone. State Building Group is the general contractor for the build, while Greystar will be in charge of property management.
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Rendering credit: Circle South Park’s Facebook profile