Market-leading Real Estate Developer, Investor
and Operator Honored for Industry and Community Leadership;
Outstanding Projects Across Industrial, Life Science, Office and
Multifamily
WASHINGTON, July 17,
2024 /PRNewswire/ -- NAIOP, the Commercial Real
Estate Development Association, has selected Crescent
Communities as its 2024 Developer of the Year – the
association's highest honor. The award will be presented during
NAIOP's CRE.Converge conference in Las
Vegas this October.
"We are honored to be named this year's Developer of the Year by
NAIOP, and we are humbled that the organization has recognized our
extraordinary team and our community-driven development approach as
an industry game-changer," said Crescent Communities Chairman and
CEO Brian Natwick. "Our mission is
to build community and better people's lives, and we believe that
starts from the inside out. We are as equally dedicated to
designing and developing commercial and multifamily communities
that enrich the way people work and live, as we are to creating an
internal culture of connection and innovation, and this award
underscores our unwavering commitment to these principles."
Formed in 1963 and headquartered in Charlotte, North Carolina, Crescent
Communities' development portfolio has included more than 82
multifamily communities and 24 million square feet of commercial
space. Crescent Communities is active in 17 markets nationwide and
has eight offices in the U.S., including Charlotte; Washington, D.C.; Atlanta; Orlando,
Florida; Nashville,
Tennessee; Dallas,
Denver, and Phoenix.
Crescent Communities continues to thrive even in difficult times
due to its ability to expand business offerings by leveraging
extensive experience and innovation.
- In 2021, Crescent expanded its multifamily portfolio offering
to include a mid-market brand called RENDER by Crescent Communities
and a single family built-to-rent brand called HARMON by Crescent
Communities to complement the existing award-wining luxury brand of
NOVEL by Crescent Communities, which has become nationally
recognized since 2010.
- In 2022, Crescent chose to brand its long-standing industrial
developments AXIAL by Crescent Communities to further leverage
brand awareness across markets. Lastly, Crescent branded its life
science developments, THE YIELD by Crescent Communities in 2023
after the successful launch of its first project with over three
million square feet of highly amenitized campus-style life science
and advanced manufacturing space in 2021.
- Despite the current challenges of office development, Crescent
Communities has continued to invest in strategic and selective
locations, including Carson & Tryon, a 31-story mixed-use
development in Charlotte's South
End – recognized as one of the nation's hottest development
submarkets – which will include more than 30,000 square feet of
employee-centric amenities. Crescent also led the complete overhaul
of Charlotte's iconic One
Independence Center with 20 stories of modern Class A office space
complemented by a new food hall called Monarch Market, including
several upscale bars and additional retail that has helped
reimagine this portion of Uptown Charlotte.
Overall, the developer had a banner year in 2023, with
$7.2 billion of active multifamily
and commercial investments under construction and in planning
including 7.5 million square feet of industrial, life science, and
office space, and more than 15,000 multifamily units under its
NOVEL, HARMON, and RENDER brands. Since 2010, Crescent Communities
has raised over $7.8B in third-part
capital, working with over 82 capital partners.
Guided by its core values – "Do What's Right, Be Curious,
Innovate Always, Deliver Excellence" – Crescent Communities has
implemented daily practices to further its commitment to
stewardship, including its impactful work through its Diversity,
Equity and Inclusion Task Force and its intentional partnerships
with minority and women-owned businesses. Crescent Communities has
also been recognized as a national leader for its sustainability
efforts, with developments that incorporate LEED, National Green
Building Standard (NGBS), Fitwel and WELL certifications. And the
developer is currently pursuing One Planet
Living designation across The River District, its
1,400-acre master planned development in West Charlotte, the first community in the
Southeast to implement this ambitious and forward-looking framework
that supports circularity, responsible transit, health and a
reduced carbon footprint.
"All our core values are integral to the work we do, but our
commitment to 'do what's right,' is truly something we believe in
and put into practice every day across all of our projects and
communities," said Crescent Communities Commercial President
Brendan Pierce. "It's that
integrity, and the innovation that results from finding the right
answer – not the easy answer – that enables us to adapt across
multiple sectors and serve as a leader in the commercial
space."
Since 1979, the NAIOP Developer of the Year award has been
presented to a development company that best exemplifies leadership
and innovation in the commercial real estate industry. Crescent
Communities was selected from an impressive slate of nominees and
was evaluated by a team of seasoned developers on the following
criteria: outstanding quality of projects and services; active
support of the industry through NAIOP; financial consistency and
stability; ability to adapt to market conditions; and support of
the local community.
"It is NAIOP's honor to recognize the tremendous work of
Crescent Communities as the 2024 Developer of the Year. Its ongoing
commitment to advancing the commercial real estate industry through
cutting-edge innovation and exemplary real estate development
across many property sectors is impressive," said Marc Selvitelli, NAIOP president and CEO.
"Crescent Communities has demonstrated significant market
resilience and adaptability, overcoming economic headwinds to
consistently deliver value."
About NAIOP
NAIOP, the Commercial Real Estate
Development Association, is the leading organization for
developers, owners, investors and related professionals in office,
industrial, retail and mixed-use real estate. NAIOP provides
unparalleled industry networking and education and advocates for
effective legislation on behalf of our members. NAIOP advances
responsible, sustainable development that creates jobs and benefits
the communities in which our members work and live. For more
information, visit naiop.org.
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 85 multifamily communities and 24
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.
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SOURCE NAIOP