Crescent Communities Hosts Groundbreaking for New Multifamily Community in the Triangle
MORRISVILLE, NC (April 27, 2023) – Crescent Communities is pleased to announce the groundbreaking of a new multifamily community in Morrisville, NC, just outside Raleigh. Located at 218 Southport Drive, NOVEL Morrisville will offer 336 for-rent residences and a Land of a Thousand Hills Coffee & Social serving residents and the larger community. The groundbreaking ceremony took place on Wednesday, April 26, with first residences expected to deliver next summer.
“Morrisville is a magnet for growth and innovation, and we’re thrilled to be a part of that energy by bringing a new, thoughtfully-designed multifamily community to the area,” said Michael Tubridy, Senior Managing Director, Carolinas and Tennessee for Crescent Communities. “This community will be an oasis within easy commuting distance to the many companies based in Research Triangle Park and the Raleigh-Durham International Airport.”
NOVEL Morrisville is located within a master-planned, multi-use community anchored by the Wake Competition Center sports complex, a multi-sport facility that also serves as the practice home for the NHL’s Carolina Hurricanes. The community is across the street from Spark Life Science, which will be the region’s largest mixed-use research development upon completion, and is adjacent to Apple’s upcoming campus at Research Triangle Park, Lake Crabtree, and Perimeter Park.
Positioned as the Triangle’s home for play, NOVEL Morrisville will blend lush, natural spaces with communal programming to engage and excite residents. The community will offer 336 for-rent residences, featuring ten townhomes and a mix of studio, 1-, 2-, and 3-bedroom apartment homes. Alongside high-end unit finishes such as mud benches, Samsung appliances, and smart apartment technology, NOVEL Morrisville will feature luxury community amenities, including a centralized spacious pool deck, two-story fitness center, resident club room and arcade, private sports bar-inspired lounge, co-working space, an abundance of interior and exterior amenity space, and concierge-level service. NOVEL Morrisville plans to open Summer 2024.
Complementing the suite of amenities, the Land of a Thousand Hills Coffee & Social at NOVEL Morrisville will be open to residents and the greater community and will provide a meeting spot for community members to come together, enjoy food and beverage offerings, and make connections. This marks Land of a Thousand Hills' 12th partnership with Crescent Communities’ and their first café in the Triangle.
Partners for NOVEL Morrisville include lender U.S. Bank, equity partner GID, architecture firm and interior designer Hord Coplan Macht, and civil engineer and landscape architect Kimley-Horn.
Crescent Communities continues to grow its presence in the Triangle area, where NOVEL Cary is now leasing, THE YIELD Holly Springs is well underway, and SouthCourt is now leasing in Durham. 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 the community will be announced at a later date. Renderings are available here, and photos from the groundbreaking event here. Forthcoming imagery and logos are available upon request.
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.
