Crescent Communities Announces the Sale of NOVEL Turtle Creek to Goldrich Kest
Dallas, TX (December 21, 2023) – Crescent Communities is delighted to announce the sale of NOVEL Turtle Creek to Goldrich Kest. The 20-story luxury high-rise community, located at 4251 Irving Avenue in the sought after Turtle Creek and Oak Lawn area of Dallas, opened its doors to residents in May 2022. The award-winning property is one of three multifamily communities that Crescent Communities has developed in the Dallas market and marks the second sale to Goldrich Kest, with Atlanta’s NOVEL Midtown trading hands last month.
“Since opening in 2022, NOVEL Turtle Creek has made its mark as a landmark destination in the Dallas community,” said Meaghan Kroener Janson, Director of Development of the Texas region for Crescent Communities. “Located in the heart of Dallas’ Oak Lawn neighborhood, this community embodies the spirit of modern luxury and offers a lifestyle of distinction with an unparalleled level of service. As a Dallas native, it was a privilege to add something so unique to this already beloved community and everyone at Crescent Communities looks forward to watching NOVEL Turtle Creek continue to flourish within Goldrich Kest’s portfolio.”
NOVEL Turtle Creek is strategically situated within walking distance of Turtle Creek Village and The Shops of Highland Park, where luxury and convenience intersect, to allow residents the unique ability to frequent some of Dallas’s best shopping and dining destinations. The premier, urban landscape is just part of the community’s appeal; a short five-minute walk leads residents to Turtle Creek Park and the Katy Trail for a natural sanctuary right outside the bustling neighborhood.
The community features 206 luxury one-, two-, and three-bedroom residences with ornate details and top-of-the-line finishes, including real hardwood flooring, gas appliances, wine refrigerators, Latch electronic key systems, and Nest thermostats. Penthouse residences are located on the top two floors and feature expansive terrace views, wet bars, full dining rooms, and wall ovens. The fifth floor of the building is dedicated to resident amenities and includes a luxuriously landscaped outdoor deck with a swimming pool, numerous seating areas, outdoor kitchens, and sweeping views of both the Turtle Creek and downtown skylines. Concierge service, curbside valet and a morning coffee service are just a few of the lavish perks offered at the community.
In keeping with the luxury design and vision for NOVEL Turtle Creek, a best-in-class team of design partners were hand selected for the community and include project architect WDG, experiential consultant 505 Design, landscape architect TBG Partners, and interior designer Vignette Interior Design. Rogers-O’Brien Construction served as the general contractor for the project.
The sale of NOVEL Turtle Creek comes as Crescent Communities continues to grow its presence in Texas, with more announcements on the horizon.
More broadly, Crescent Communities continues to experience significant growth with $7.2 billion of residential and commercial investments and developments currently under construction, operations and planning including 15,300 units of multifamily/single family build-to-rent, 58,000 square feet of complementary retail, and 7.5 million square feet of office, industrial and life-sciences. With a focus on environmental sustainability and wellness, the organization pursues certifications including LEED, NGBS (National Green Building Standard), Fitwel, and WELL.
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, Phoenix, and Salt Lake City. Our multifamily communities are branded NOVEL, RENDER, and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life sciences developments are branded THE YIELD by Crescent Communities.
About Goldrich Kest
Goldrich Kest is a privately owned business that can trace its origins back more than 65 years to two entrepreneurs, Jona Goldrich and Sol Kest, holocaust survivors who parlayed their meager savings into a significant portfolio. Today, the second generation of the Goldrich and Kest families continue to build upon its ever-expanding portfolio of residential, commercial, industrial, and retail projects. Among them are 113 apartment buildings, five marinas, 22 senior living facilities, and, scattered throughout the US, more than 7 million square feet of commercial, industrial, and retail space. Over half of its apartment buildings accommodate low-income families. For more information about the company, visit goldrichkest.com.
