With Monday’s announcement of a new, luxury apartment building at Atherton Mill, Charlotte-based Crescent Communities brought the number of new apartments it’s building in Charlotte to almost 1,900.
The company’s Atherton project, in partnership with Edens, is expected to start construction in early August. Crescent is also building new apartments along the Blue Line light rail in uptown (Crescent Stonewall Station), NoDa (Crescent NoDa) as well as on Park Road (Crescent Montford Park) and on Providence Road, past I-485 (Crescent Providence Farm).
A company affiliated with Crescent bought the site the Atherton apartments for just over $15 million, real estate records show. Crescent obtained equity financing through a joint venture between the company and Sumitomo Forestry, a Japanese wood products company. BMO Harris Bank is providing a construction loan, while Summit Contracting is the general contractor.
LandDesign is the civil engineer, with MV&A leading conceptual design and Dwell Design Studio serving as the architect. INTEC Group is the interior design firm.