Crescent Communities Named NAIOP 2024 Developer of the Year

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