Crescent Communities Announces Sale of Multifamily Community
CHARLOTTE, North Carolina (Feb. 11, 2025): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities, today announced the sale of its interest in NOVEL Ballantyne. Located at 14011 Bespoke Road, NOVEL Ballantyne is part of a master-planned residential community Crescent Communities developed in Charlotte’s Ballantyne neighborhood. The development also includes Laurel Street’s mixed-income 55+ active adult housing complex, The Balmore at Ballantyne, and a future townhome community.
Embodying a “bespoke residential atelier,” NOVEL Ballantyne brings artful experiences to life for residents by combining the elegance of European architecture with modern conveniences and suburban tranquility. Spanning three five-story buildings, the community offers 285 studio, one-, and two-bedroom apartment homes, each crafted with a focus on luxury and comfort, featuring bright quartz countertops, sleek stainless-steel appliances, and expansive windows that invite natural light.
“NOVEL Ballantyne is a testament to Crescent Communities’ dedication to enriching the lives of residents through style, creativity, and purpose,” said Michael Tubridy, Crescent Communities’ Managing Director for North Carolina. “Its art-inspired design and thoughtfully crafted spaces provide a seamless blend of elegance and functionality, helping residents discover adventures in the everyday. We are confident that the community will continue to build upon this vision, fostering a vibrant and enriching environment for years to come.”
The community offers unbeatable access to two major retail centers anchored by Sprouts and Publix grocery stores, as well as the Bowl at Ballantyne development, Ballantyne Corporate Park, and Novant Health Ballantyne Medical Center. Its slate of elevated amenities provide a year-round destination for gathering and socialization, including a resort-style saltwater pool with an iconic yurt, chaise lounge seating, a grilling area, a pool house, and outdoor fireplaces; a fitness center with a multipurpose mirrored movement studio; a dog park; a co-working library and presentation space with comfortable work tables, soft seating, and a TV; an outdoor lawn with a putting green; and an upscale coffee and wine self-service station.
Partners on NOVEL Ballantyne include architecture firm Cooper Carry, structural engineer Ellinwood + Machado, MEP engineer IMEG Corp., landscape architect and civil engineer LandDesign, and interior designer Vignette.
More broadly in the Charlotte market, Crescent Communities’ robust multifamily portfolio includes the award-winning NOVEL University Place and NOVEL Mallard Creek in University City, HARMON Five Points, and NOVEL River District, set to open in early 2026. Its legacy communities include The Atherton, formerly NOVEL Atherton, MAA LoSo, formerly NOVEL LoSo Station; Pointe at Research Park, formerly NOVEL Research Park; 30Six NoDa, formerly NOVEL NoDa; Emerson Montford Park, formerly NOVEL Montford Place; amongst many others.
Nationwide, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments in various stages of construction, operations, and planning. That pipeline includes 15,300 multi- and single-family build-to-rent units; 58,000 square feet of complementary retail space; and 7.5 million square feet of office, industrial, and life-sciences facilities. With a focus on environmental sustainability and wellness, Crescent Communities is a leading recipient of LEED, NGBS (National Green Building Standard), Fitwel, and WELL certifications.
Photos of NOVEL Ballantyne are linked here.
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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 86 multifamily communities and 25 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.
