New Multifamily Community in the Beach Park Neighborhood Of Tampa
TAMPA, FL (March 30, 2022) - Crescent Communities is pleased to announce plans for a new high end multifamily community in Beach Park, a neighborhood within the Westshore District of Tampa, FL. NOVEL Beach Park by Crescent Communities will be located just a short drive from the best shopping and restaurants in the area and embrace the best of beach club living. The community will include 289 for-rent residences with the vast majority offering unobstructed views of Old Tampa Bay and Tampa’s famous picture-perfect sunsets. This marks the sixth investment in the Tampa market by Crescent Communities.
Crescent Communities purchased the land for this community through its newly established Crescent Communities Real Estate Opportunities Fund from Highwoods Properties (NYSE: HIW). Construction is slated to begin later this month, with first residences scheduled to deliver in fall 2023. The Beach Park neighborhood felt like a natural fit for a community underwritten by the new Fund, which was established with a focus on opportunistic high-density multifamily developments in urban core areas.
"Crescent Communities looks forward to continuing our growth in Tampa with the introduction of NOVEL Beach Park,” said Tim Graff, Managing Director of Florida for Crescent Communities. “We are excited to return to the Westshore district, and this community offers us an opportunity to provide an unparalleled and distinctly unique living experience to not only live in Beach Park, but live the beach club life. We are deeply appreciative of the collaboration from all sides throughout the planning process, and we look forward to continuing to work closely with the neighborhood as we proceed with our development.”
“Our goal is to create the most talent-supportive workplace environment and experiences to give our customers a compelling and competitive advantage to retain, recruit and return talent to the office,” said Dan Woodward, Senior Vice President & Tampa Market Leader, Highwoods Properties. “To this end, talent-supportive environments are rich in amenities and provide options to live, work and play in close proximity. Crescent’s mission to Build Community and Better People’s Lives coupled with the exceptional communities they’ve created in Tampa felt like the perfect complement to Bay Center.”
Construction of the luxury community will be handled by Finfrock. Other partners include Kimley Home providing civil enginnering services, Dix Hite for landscape architecture and IDDI Design Group for interior design.
At its core, NOVEL Beach Park is designed to be the home for Tampa’s discerning waterfront renter. The community will consist of a nine-story building with studios, one-bedrooms, two-bedrooms and three-bedroom apartment homes. Select homes will feature floor to ceiling glass windows offering breathtaking water views. Additional amenities include a ground-level resort-style pool and lounge, a top-of-the-line fitness center and a Sky Bar on the 9th floor.
The Westshore District sits just three miles from Tampa’s main shopping centers and is directly adjacent to Tampa’s largest employment hub that continues to grow and is currently home to Microsoft, Amerisure Insurance, and United Data Technologies, among others.
Crescent Communities has long been active in the Tampa market, dating back to Crescent Bayshore, Crescent Crosstown, Crescent Westshore, and more recently with NOVEL Riverwalk. In addition to those past communities, Crescent Communities actively owns NOVEL Midtown Tampa, which is nearing stabilization. With additional community plans in the pipeline and a growing local team, the Tampa market continues to be a top priority for Crescent Communities’ expansion in the Florida market and beyond.
Additional details surrounding the community will be announced at a later date. Renderings are available here. Forthcoming imagery and logos are available upon request.
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 residential and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 74 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities.
About Highwoods
Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. The Company is a fully integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. Visit highwoods.com for more information.
