Crescent Communities Continues Atlanta Growth with Opening of RENDER Covington, Activity Across Four Other Atlanta Properties
ATLANTA (March 11, 2024): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of residential and mixed-use communities, celebrated the grand opening of its much-anticipated RENDER Covington community, the latest in a series of milestones demonstrating Crescent’s robust activity across the Atlanta footprint.
Active in the Atlanta market for more than a decade, today Charlotte-based Crescent Communities has delivered or is actively building 10 multifamily properties totaling more than 3,000 units in the metro area, featuring both Crescent’s NOVEL and RENDER multifamily branded communities.
To capitalize on its sustained growth and optimism about its ability to continue delivering differentiated communities to the Atlanta market, Crescent has named Eric Liebendorfer as Managing Director, Georgia, to lead Crescent’s multifamily investment activity in the market, including sourcing new multifamily development opportunities, overseeing market strategy and leading execution of Crescent’s communities. In his nine years at Crescent, Liebendorfer has helped build an impressive track record of success in the multifamily space, having led developments across Georgia and Central Florida with assets valued at more than $1 billion. The Crescent team, under Liebendorfer’s leadership, is actively pursuing new development sites throughout the Atlanta region and later this year will announce several more developments already in the pipeline.
Located just 40 minutes outside Atlanta’s urban core, the new Covington property is the first community to open under Crescent’s RENDER brand, which focuses on developing best-in-class suburban, multifamily communities with thoughtful design, functional space, and local character all at a more approachable cost.
The 315-apartment community – which is actively leasing and celebrated its grand opening on February 28 – has direct access to the 2.5-mile multi-use Eastside Trail, a luxury resident clubhouse, a dynamic fitness center, work-from-home office space, and abundant outdoor, poolside amenities. The property is just eight miles from Stanton Springs’ industrial park, providing convenient and financially accessible living for employees of Takeda, Facebook, and Three Ring Studio, among others.
Crescent’s second RENDER property, RENDER Stockbridge, a 297-unit community just 30 minutes southeast of Atlanta, is currently under construction with first residents welcomed in late 2024. The newest RENDER project – RENDER Turner Lake, also in Covington – will include five residential buildings, six detached garages, and a leasing/clubhouse building as well as direct resident access to Newton County Turner Lake Park when completed in 2025.
“The Atlanta market has seen a tripling of last year’s population growth and the fifth-highest employment base increase in the nation since the pandemic, and as the demand for housing continues to rise, we could not be more excited to open our first-ever RENDER community and deliver to residents the high-quality lifestyle amenities and offerings they crave at an accessible price point,” said Liebendorfer. “We see our Covington community as just the beginning of a dynamic new approach to suburban living, and we look forward to the delivery of RENDER Stockbridge and RENDER Turner Lake in the coming months.”
Crescent’s urban Atlanta portfolio has also seen an influx of activity over the past several months, led by strong leasing activity at NOVEL West Midtown, which opened last fall, and the fourth quarter sale of the high-rise community NOVEL Midtown. NOVEL West Midtown features 340 for-lease residences across studio, one-, two-, and three-bedroom options and shared amenities for residents including a gear lounge; a large state-of-the-art fitness center; a double-height resident club room; a game area with pool table, oversized Scrabble™, and vintage ring toss games; and a spacious coworking lounge with private offices and conference rooms.
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, the organization is a leading recipient of LEED, NGBS (National Green Building Standard), Fitwel, and WELL certifications.
For more information, please visit the Crescent Communities website 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 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.
