Crescent Communities Commemorated Groundbreaking for Multifamily and Build-To-Rent Communities in South Sarasota
CHARLOTTE, NC (March 9, 2023) – Nationally recognized Crescent Communities officially commemorated the groundbreaking for their new multifamily community, RENDER Legacy Trail, and build-to rent community, HARMON Legacy Trail, in South Sarasota. The groundbreaking ceremony took place Wednesday, March 1.
RENDER Legacy Trail and HARMON Legacy Trail will be part of an overall master-planned residential community, supporting Crescent Communities’ vision of bringing a mix of new housing options, including market rate apartment homes and build-to-rent (BTR) townhomes, to the area. The master-planned community offers residents a lifestyle of elevated living and modern conveniences including six acres of forthcoming retail spaces, access to I-75, a highly rated school district and the enviable adjacency to the Legacy Trail, a 20+ mile path connecting downtown Sarasota to downtown Venice.
“We are thrilled to have reached this milestone for RENDER Legacy Trail,” said Tim Graff, Managing Director of Florida for Crescent Communities’ multifamily business. “RENDER offers residents thoughtfully crafted communities that are rich in character at a more approachable price point. The adjacent build-to-rent single-family offering, HARMON Legacy Trail, will also provide residents the opportunity to live in new construction homes. Together, these communities highlight Crescent Communities’ commitment to growing strategically in Florida and the Sun Belt.”
RENDER Legacy Trail is a joint venture between Crescent Communities and FCP® and is the second such partnership between the two companies. Located at 15560 Render Way, the 19.5-acre community will feature 450 for-rent multifamily residences. RENDER by Crescent Communities is the company’s suburban-market multifamily business. The brand is designed to appeal to residents who appreciate the ease and convenience of suburban living but who also value design, functional spaces, and communities infused with local character.
Community amenities at RENDER Legacy Trail will focus on delivering what matters most to residents and their needs and encouraging a highly social and energetic environment. Offerings will include a centralized lobby and leasing area, self-service package area, 24-hour fitness center, and multipurpose rooms that can serve as coworking lounges. Abundant outdoor space will provide opportunities for residents to grill, dine, socialize, swim, and relax and the adjacent Legacy Trail gives residents easy access to a connective trail for recreation or exercise. Residences at RENDER Legacy Trail will feature functional design elements that will intentionally contribute to the space’s overall feel of a home, rather than a typical apartment unit. These details will include entryway mudrooms with built-in storage, home office workspaces separate from the living room and kitchen, and enhanced closet systems to provide added in-home organization. Configurations from one- to three- bedrooms will be available.
In addition to RENDER Legacy Trail, its counterpart, HARMON Legacy Trail, will feature 76 build-to-rent townhomes with the option of three- and four- bedroom floorplans. Crescent Communities continues to expand its footprint in Florida, with recent announcements including the groundbreakings of multifamily communities NOVEL Beach Park and NOVEL Independence Park in Tampa, and the debut of its forthcoming industrial project, AXIAL 301 Manatee, in Bradenton. Crescent Communities is also nearing first unit delivery for NOVEL Nona and NOVEL Parkway in Orlando later this year. With additional community plans in the pipeline and a growing local team, the Florida market continues to be a top priority for Crescent Communities’ expansion.
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.
Additional details surrounding RENDER Legacy Trail and HARMON Legacy Trail will be announced soon. Renderings are available here and photos from the groundbreaking celebration are here.
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 83 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 and our life science developments are branded THE YIELD by Crescent Communities.
About FCP
FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.
