Crescent Communities Named 2024 NAIOP Developer of the Year
CHARLOTTE, North Carolina (Oct. 14, 2024) – Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use and industrial communities, was selected as the Commercial Real Estate Development Association (NAIOP)’s 2024 Developer of the Year, the association’s highest honor. The award was presented to Crescent’s President of Commercial and The River District, Brendan Pierce, in a ceremony last week during NAIOP’s CRE.Converge conference in Las Vegas. Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation in the commercial real estate industry.
Founded in 1963 as Crescent Land and Timber and headquartered in Charlotte, N.C., Crescent Communities’ development portfolio includes more than 86 multifamily communities and 25 million square feet of commercial space. Crescent is active in 17 markets nationwide and has eight offices in the U.S., including Atlanta, Charlotte, Dallas, Denver, Nashville, Orlando, and Phoenix. The developer had a banner year in 2023, with $7.2 billion of active multifamily and commercial investments including 7.5 million square feet of industrial, life science, and office space, and more than 15,000 multifamily units under its NOVEL, HARMON, and RENDER brands. Since 2010, Crescent has worked with 80-plus capital partners to raise over $7.8 billion in third-part capital.
"Being named NAIOP’s 2024 Developer of the Year is an incredible honor for Crescent Communities and a testament to the hard work, dedication, and strategic vision of our entire team,” said Crescent Communities CEO, Brian Natwick. “At our core, we foster a culture of collaboration, innovation, and a shared commitment to doing what’s right. This recognition reflects that collective spirit, and we’re inspired to continue pushing boundaries and delivering impactful communities that enhance both the built environment and the lives of those within it.”
NAIOP cited Crescent Communities’ ability to withstand difficult market headwinds – and thrive despite them – by leveraging extensive experience to expand business offerings as the organization’s key competitive advantage. Some recent outstanding examples include Crescent’s expansion of its multifamily portfolio in 2021 to include a suburban mid-market brand named RENDER by Crescent Communities and a single family built-to-rent brand called HARMON by Crescent Communities, complementing its existing award-wining luxury brand NOVEL by Crescent Communities.
Additionally, Crescent Communities chose to brand its industrial developments AXIAL Industrial by Crescent Communities in 2022 to strategically leverage awareness across markets. Today, Crescent Communities’ AXIAL portfolio includes 65 projects totaling over 14 million square feet in the East region. Crescent also branded its life science developments THE YIELD by Crescent Communities in 2023 after the successful launch of its first project with over three million square feet of highly amenitized campus-style life science and advanced manufacturing space in North Carolina’s Research Triangle region.
Despite the current challenges of office development, Crescent Communities has continued to invest in strategic and selective locations, including Carson & Tryon, a 31-story mixed-use development blending Charlotte’s South End – one of the nation’s hottest development submarkets – with Uptown. Carson & Tryon will include more than 30,000 square feet of employee-centric amenities. Crescent also led the complete overhaul of Charlotte’s iconic One Independence Center with 20 stories of modern Class-A office space complemented by a new food hall called Monarch Market, including several upscale bars and additional sought-after retail that has helped reimagine this portion of Uptown Charlotte.
Guided by its core values of “Do What’s Right, Be Curious, Innovate Always, Deliver Excellence,” Crescent Communities has implemented daily practices to further its commitment to stewardship, including its impactful work through its Diversity, Equity and Inclusion Task Force and its intentional partnerships with minority- and women-owned local businesses. Crescent has been recognized as a national leader for its sustainability efforts, with developments that incorporate LEED, National Green Building Standard (NGBS), Fitwel, and WELL certifications.
“Receiving NAIOP’s 2024 Developer of the Year award is both a deeply meaningful milestone and a reflection of the incredible efforts of our team,” said Pierce. “As a former president of NAIOP’s Charlotte chapter, this recognition holds special significance. Our core values of doing what’s right, being curious, innovating always, and delivering excellence aren’t just aspirational; they fuel our commitment to creating places of authenticity and impact that resonate with people and leave a lasting legacy.”
Crescent Communities was selected for the award from an impressive slate of nominees and was evaluated by a team of seasoned developers on the following criteria: outstanding quality of projects and services; active support of the industry through NAIOP; financial consistency and stability; ability to adapt to market conditions; and support of the local community.
“It is NAIOP’s honor to recognize the tremendous work of Crescent Communities as the 2024 Developer of the Year. Its ongoing commitment to advancing the commercial real estate industry through cutting-edge innovation and exemplary real estate development across many property sectors is impressive,” said Marc Selvitelli, NAIOP president and CEO. “Crescent Communities has demonstrated significant market resilience and adaptability, overcoming economic headwinds to consistently deliver value.”
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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.
