Crescent Communities, a real estate investor and developer, has announced the construction of a new multifamily community named Novel Ballantyne as part of its Charlotte footprint expansion. This housing project will be the 14th multifamily project developed by Crescent in the Charlotte market.
According to Michael Tubridy, the managing director of Crescent’s multifamily development for the Carolinas and Tennessee, the Novel Ballantyne project is a larger part of a residential development consisting of several types of housing projects; which include market-rate and age-restricted units, affordable apartment homes, as well as townhomes available for renting. Crescent Communities is also focusing on sustainable development practices and working towards acquiring a USGBC LEED certification for its commercial spaces and a NGBS certification for its multifamily residences.
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Novel Ballantyne Apartment Complex brings 285 residential units to Charlotte
Construction of the Novel Ballantyne will take place at 15825 Marvin Road in the Ballantyne area of Charlotte and it will cover the development of three buildings rising upto five stories high; these buildings will house a total of 285 residential units, comprising a mix of studio units, one bedroom units, and two bedroom units. The three buildings will be designed with a unique architectural styling and landscape design, and they will also feature amenities such as a large clubroom with work-from-home spaces, outdoor social lawn and a fitness center. Other outdoor amenities provided include a dog park, gathering spaces and a resort pool with covered lounge spaces.
The design team working on the Novel Ballantyne include 505 Design, an architectural firm; LandDesign, a landscape architect and civil engineering firm; and Vignette Interior Design; While the Engineering firms include MEP engineering, McVeigh + Magnum, and Elinwood + Machado, as the structural engineers. The groundbreaking for this apartment complex is expected to take place this month, with the first set of units to be completed in March 2023.
Besides the construction of the Novel Ballantyne Apartment Complex, Crescent is also overseeing the other segments of the master-planned project. Development of the home towns will be handled by Crescent’s build-to-rent division, although the related details on this are yet to be released. The company is also under contract with Laurel Street Residential to develop the age-restricted affordable housing units.
