Charlotte-based Crescent Communities said Thursday that it is expanding its apartment building to the Southwest U.S.
As part of that strategy, the company said, it is opening an office in Denver, Colo., and developing a 275-unit, luxury apartment community in Scottsdale, Ariz.
Although Crescent has primarily focused on the Southeast, its done projects in the West.
In 2006, it opened Portland Place, a condominium project in Phoenix. Last year, it developed and sold a student-housing community in Austin, Texas.
In a press release, the company said there is a need for additional multifamily housing in several key markets in the Southwest.
Two Crescent multifamily officials will relocate to Denver to work in the new office.
Glimcher Realty Trust is partnering with Crescent for the Scottsdale apartment project, Crescent said.
Roberts: 704-358-5248; Twitter: @DeonERoberts
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