Crescent Communities Kicks Off Development in Atlanta

Crescent_PerimeterSandy Springs, Ga.—Crescent Communities has secured financing for a multifamily rental community now underway in metro Atlanta’s Perimeter neighborhood. The property, Crescent Perimeter, will consist of 320 apartments, ranging from one to three bedrooms.

Located at 5755 Glenridge Road in Sandy Springs, Ga., Crescent Perimeter will be four and five stories surrounding a parking deck within the 26-acre Lakeside office park just north of I-285. Crescent Communities expects the first residents to move into Crescent Perimeter in the third quarter of 2018.

The Central Perimeter business district is a major regional center that’s recently attracted a number of major companies, including the headquarters of Mercedes-Benz USA, State Farm and The Weather Channel. Crescent’s new apartments will also serve employees of metro Atlanta’s largest concentration of hospitals and medical offices, known as Pill Hill.

“The job growth in Atlanta, especially in Central Perimeter, has created strong demand for housing,” said Kyle Brock, managing director in Crescent’s Atlanta Office. The Charlotte-based company has previously been active in greater Atlanta: it developed central Buckhead’s Crescent Terminus (now Berkshire Terminus), and is planning a 25-story tower near Lenox Square and a project called Crescent O4W apartments in the Old Fourth Ward.

Crescent’s equity partner in the Crescent Perimeter development is Bluerock Residential, part of New York-based Bluerock Real Estate LLC. The general contractor is Fortune-Johnson Inc. of Norcross, Ga., while Fortune-Johnson is currently grading the site and preparing it for vertical construction.

Comments

Post a Comment

Popular posts from this blog

Parents of Student Murdered by Maintenance Man Sue Apartment Complex

He pleaded guilty to murder late last year, now the case of a maintenance worker who killed a Blinn student is back in court. The parents of 20-year-old Jenna Verhaalen are suing the Bryan apartment complex where she was killed. Verhaalen was strangled at the Autumn Woods Apartments in 2008, by 27-year-old maintenance worker Jeremiah Rosser . The suit claims Autumn Woods ignored complaints made about Rosser. Specifically, a complaint they claim Jenna made to Rosser's boss, when he entered her apartment while she was in the shower. The suit alleges the complex's negligence led to Jenna's death. Attorneys for Autumn woods said management had no reason to believe Rosser was a risk. However, that's not what the complex's corporate office told News Three in 2008. Back then, a spokesperson said Jenna complained to the maintenance supervisor about Jeremiah Rosser , but never filed a complaint with the office. Rosser quit his job at Autumn Woods several day
Read more

“Blacklist” star Megan Boone lists West Village apartment for $2.4M

Image
Megan Boone and her apartment at 302 West 12th Street (credit: NBC and BKR Partners) Megan Boone, who  plays FBI agent Elizabeth Keen on NBC’s crime thriller “The Blacklist,” has just listed her condominium at 302 West 12th Street for $2.4 million, per city records. (credit: BKR Partners) Boone bought the apartment in 2014 for $1.85 million. According to the listing, with Brian Kanarek of BKR Partners, the 837-square-foot unit has one bedroom and one bathroom. It overlooks tiny Abingdon Square Park, and has a large fireplace, soundproof windows, high ceilings, a walk-in closet and access to the communal landscaped roof terrace . Kanarek did not immediately respond to request for comment. (credit: BKR Partners) Per city records, Boone and her husband, artist Dan Estabrook , bought a townhouse in Carroll Gardens in March 2016 in an off-market deal. In addition to starring on “Blacklist” with James Spader, Boone has also appeared on “Law & Order: LA,” “Blue Bloods” and the film “St
Read more

Charlotte affordable housing forum raises possible solutions

There’s a big demand for more affordable housing in Charlotte, where rents and home prices have shot up much faster than wages over the past few years. Many of the apartments being built now target more affluent renters, waitlists for housing vouchers are long and starter homes are snapped up almost immediately. So why aren’t developers building more affordable housing ? That was one of the main questions at a candidate education panel hosted by the Greater Charlotte Apartment Association on Friday, where about two dozen candidates for Charlotte City Council turned out to learn some of the basics on a complicated subject. “ Affordable housing is one of the topics you’ll talk about a lot,” Bryan Holladay, who supervises the group’s government affairs outreach , told the candidates. The subject is an alphabet soup of acronyms (like NOAH, or “ Naturally Occurring Affordable Housing ”) and overlapping terms and definitions. Sometimes when people say “ affordable housing ” they mean go
Read more