Crescent Communities, a real estate investor, developer, and operator, has sold two new properties in prime multifamily markets to TA Realty—the 322-unit NOVEL Harpeth Heights in Nashville, Tennessee, and the 320-unit NOVEL Cary in Cary, North Carolina.
“We are tremendously proud of both NOVEL Harpeth Heights and NOVEL Cary and the positive impacts these two communities have created in their respective markets in such a short period of time,” said Michael Tubridy, senior managing director of the Carolinas and Tennessee for Crescent Communities. “Since opening earlier this year, we’ve watched both communities provide tailored living experiences for our residents by embodying their distinctive and unique visions. Nashville and the Triangle continue to be some of the fastest-growing markets in the country, and we look forward to watching these two communities thrive within TA Realty’s portfolio.”
NOVEL Harpeth Heights, constructed in partnership with Pearl Street Partners, marks Crescent Communities’ seventh multifamily community in the Nashville market.
Designed around the concept of “Tennessee heritage,” the community comprises studio, one-, two-, and three-bedroom floor plans. Residents have access to a wealth of amenities. The main clubhouse, surrounded by herb gardens, fruit trees, and beehives, channels a country farmhouse with a front porch and rear screened patio. Across from the pool and next to the fruit orchard stands the Carriage House, where the community’s spa and fitness center are located.
NOVEL Cary marks Crescent Communities’ fifth multifamily community in the Triangle market.
The community is inspired by the area’s rich culinary culture, and its design centers around food as a connection among residents. Floor plans include studios; one-, two-, and three-bedroom units; and carriage homes. The interiors reflect the modern farmhouse aesthetic, with white Shaker-style cabinets, full pantries, and islands featuring designer pendant lighting to create gathering spaces. Residents have access to a range of amenities, including a saltwater pool with cabanas, a hammock lawn, an elevated deck with a grilling area overlooking natural streams, and a fitness center.
According to Crescent Communities, the sales come as it continues to look for opportunities to grow its presence in the Nashville and the North Carolina Triangle markets. It is leasing NOVEL Edgehill in Nashville and is underway with THE YIELD Holly Springs life science campus in Holly Springs, North Carolina, and the newly renovated SouthCourt office suites, which are actively leasing, in Durham, North Carolina. In addition, the company is furthering its growth across 17 key markets in the Sun Belt with planned expansion across all business lines.
