Luxury Apartment Community with Local Flair NOVEL Scott’s Addition Celebrates Grand Opening
RICHMOND, Va. (Sept. 26, 2024): Crescent Communities, a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use communities, along with Thalhimer Realty Partners, celebrated the Grand Opening of NOVEL Scott’s Addition today. Now leasing in the heart of Richmond’s Scott’s Addition, NOVEL Scott’s Addition is the latest enhancement to the city’s most sought after neighborhood and will be just steps from the Richmond Flying Squirrels' brand-new ballpark now under construction (opening in 2026).
The seven-story apartment community includes 275 for-rent residences, featuring a mix of studio, one-, and two-bedroom apartment homes with unique loft-style dwellings on the top floor offering panoramic views of both the Downtown Richmond Skyline as well as Scott’s Addition’s dynamic streetscape. Each home offers a peaceful retreat from the neighborhood’s lively social scene with spacious interiors, top-of-the-line stainless steel appliances, a full-size washer and dryer, and warm, natural paint tones.
“As our first foray into the Richmond multifamily market, we aimed to create a space in NOVEL Scott’s Addition that pays homage to the charming, historic essence of this storied neighborhood,” said Brandon Wright, Crescent Communities’ Managing Director for Washington, D.C., Virginia, and Maryland. “Our team has meticulously crafted every detail to resonate with the soul of Richmond, and we’re excited to welcome residents into a community that sets a new standard for multifamily living in the River City.”
NOVEL Scott’s Addition’s amenities offer residents a sophisticated, social atmosphere paired with relaxing spaces, including a saltwater pool and cabana area; a record listening lounge; a top-floor sky lounge offering views of both Downtown Richmond and Scott’s Addition; a hidden cocktail club that pays homage to the area’s historical speakeasies; two courtyards complete with grilling stations, gaming spaces, firepits, and ample seating; remote coworking spaces; and a spacious dog park and spa.
Partners in the development of NOVEL Scott’s Addition included architecture firm KTGY, civil engineer Kimley Horn, landscape architect LandDesign, interior design by CID Design Group, and general contractor Clancy & Theys.
NOVEL Scott’s Addition marks Crescent Communities’ first multifamily development in the Richmond market. More broadly in the region, Crescent Communities’ portfolio includes the soon-to-open NOVEL 14th Street in Washington, D.C.’s Columbia Heights neighborhood and its legacy mixed-use community, NOVEL South Capitol. True to their names, each Class-A NOVEL property is designed to be as unique as the neighborhood it exists within, offering exceptional amenities and resident experiences.
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.
Photography of NOVEL Scott’s Addition’s Grand Opening celebration can be found 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 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.
About Thalhimer Realty Partners:
Thalhimer Realty Partners is a private real estate investment firm with a portfolio of commercial and multifamily assets valued at greater than $775 million. Thalhimer Realty Partners seeks to acquire, position and operate properties with the goal of maximizing long term cash flow and value for its investment partners. The Company is headquartered in Richmond, Virginia, with assets located throughout the Southeast Region. For more information, visit thalhimerrealtypartners.com.
