Crescent Communities
{{Short description|Real estate company from Charlotte, NC}}
{{Use mdy dates|date=August 2016}}
{{Infobox company
| name = Crescent Communities
| logo = Crescent Communities.jpeg
| former_names = South Carolina Land and Timber {{small|(1963)}}
Crescent Land and Timber {{small|(1969)}}
Crescent Resources {{small|(mid-80s)}}
| type = Private Corporation
| industry = Mixed-Use Real Estate - both Multifamily and Commercial
| hq_location_city = Charlotte, North Carolina, U.S.
| key_people = {{unbulleted list|Brian Natwick (Chairman & CEO)|Kevin H. Lambert (CFO)}}
| assets = US$1 billion+
| assets_year = 2017
| num_employees = 115
| subsid =
| homepage = http://www.crescentcommunities.com/
}}
Crescent Communities is a real estate investor, developer, and operator of mixed-use communities with headquarters in Charlotte, North Carolina. It has approximately 115 employees. The company has offices in Charlotte, Washington, D.C., Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix, and Salt Lake City.
History
In 1939, Duke Power (now Duke Energy) established a forestry department to manage company land not used for power generation. In 1963, this department became the company South Carolina Land and Timber. As the holdings expanded to include land in North Carolina, the organization was renamed Crescent Land and Timber in 1969.{{Cite web|url=http://www.jocasseerealestate.com/arealakes/lakejocassee/lakejocasseehistory.aspx|title=Lake Jocassee History - Jocassee Real Estate Company|last=Properties|first=Jocassee Real Estate Company - Lake Keowee and Lake Jocassee|website=www.jocasseerealestate.com|language=en-US|access-date=2017-08-02|archive-date=August 3, 2017|archive-url=https://web.archive.org/web/20170803045327/http://www.jocasseerealestate.com/arealakes/lakejocassee/lakejocasseehistory.aspx|url-status=dead}} Some of the original land was sold to Crescent Land and Timber by the Singer Corporation.{{Cite web|url=http://www.dnr.sc.gov/land/publications/jocplan.html|title=RESOURCE MANAGEMENT PLAN FOR JOCASSEE GORGES PROPERTY|website=www.dnr.sc.gov|access-date=2017-08-02}}
In the mid-1980s, the company was renamed Crescent Resources as it began to actively develop residential communities. Crescent Resources began work on its first commercial development, Coliseum Centre, in 1990.{{Cite web |last=Boye |first=Will |date=18 November 2011 |title=Charlotte's Coliseum Centre complex is being marketed for sale |url=http://www.bizjournals.com/charlotte/print-edition/2011/11/18/coliseum-centre-complex-is-being.html |access-date=2017-08-02 |website=www.bizjournals.com}} As of 1991, Crescent Resources managed 270,000 acres of land.{{Cite news|url=https://www.nytimes.com/1991/02/10/realestate/national-notebook-charlotte-nc-energizing-golf-projects.html|title=NATIONAL NOTEBOOK: Charlotte, N.C.; Energizing Golf Projects|last=Skoog|first=Joanne|date=1991-02-10|work=The New York Times|access-date=2017-08-02|language=en-US|issn=0362-4331}} Holdings included part of what became Lake James State Park, which it later sold to the state of North Carolina. Crescent Resources became a separate entity from Duke Energy in 2006, {{Cite news|url=http://www.charlotteobserver.com/living/lake-norman-magazine/article9205721.html|title=Forgotten Land|work=charlotteobserver|access-date=2017-08-02|language=en}} with Duke Energy selling its 49% stake to Morgan Stanley.{{Cite web |title=Duke Energy Sells Stake in Crescent Resources {{!}} News & Rankings {{!}} About {{!}} Skadden, Arps, Slate, Meagher & Flom LLP |url=https://www.skadden.com/news-events/duke-energy-sells-stake-crescent-resources |url-status=dead |access-date=2017-08-02 |website=www.skadden.com |language=en |archive-date=August 28, 2016 |archive-url=https://web.archive.org/web/20160828015607/https://www.skadden.com/news-events/duke-energy-sells-stake-crescent-resources }}
Crescent Resources filed for bankruptcy in 2009, and has emerged from it separated from the utility company. The company aimed to rebrand itself, renaming itself "Crescent Communities" in 2013.{{Cite web |last=Boye |first=Will |date=2 Apr 2013 |title=Crescent Resources changes name to Crescent Communities |url=http://www.bizjournals.com/charlotte/blog/real_estate/2013/04/crescent-resources-changes-name-to.html |access-date=2017-08-02 |website=www.bizjournals.com}}
External links
- [http://www.crescentcommunities.com Crescent Communities]