Crescent Communities Breaks Ground on Research Triangle Project
The development will include both traditional apartments and townhomes.
Crescent Communities broke ground this week on NOVEL UHill, a 400-unit multifamily community located in the University Hill section of Durham, N.C. The property will include five-story building along with 19 freestanding townhomes on a 6.5 acre-site.
NOVEL UHill is slated to deliver its first residences in late 2026. The developer expects to deliver the townhomes in the later phases so the area can be used for staging and logistics during construction of the mid-rise building. The apartment building will have a mix of studio, one-, two- and three-bedroom options while the townhomes will have two- and three-bedroom layouts.
Crescent Communities acquired the land for the project in January. The company paid $8 million for the site, according to county property records.
The development marks the firm’s third project in the Research Triangle area of North Carolina, following the debut of NOVEL Morrisville earlier this spring and NOVEL Cary, both of which are currently leasing. The NOVEL Morrisville property is also a joint mid-rise building and townhome development.
Amenities spotlighted
Common area amenities at NOVEL UHill will include a 1,450-square-foot lounge with wine, beer taps and a fireplace, a community clubroom, pool with chaise lounges alongside a grilling station and fitness studio with private yoga rooms. Other features include a table tennis area, coworking lounge and two outdoor courtyards with seating, play equipment, fire pits, grilling stations, a putting green and an outdoor TV. The property will also have a fenced-in dog park and Land of a Thousand Hills coffee shop.
NOVEL UHill will incorporate art installations throughout the property, tying into the neighborhood’s UHill Walls program, a 40,000-square-foot public art installation featuring murals on 15 acres.
“The Triangle continues to be one of the most dynamic and resilient multifamily markets in the country, offering a rare combination of top-tier education, innovation and quality of life,” Michael Tubridy, managing director for North Carolina at Crescent Communities, told Multi-Housing News. “Durham, in particular, stands out for its creative spirit and strong sense of community – traits that align perfectly with Crescent Communities’ NOVEL brand and vision for development.”
Development team, partners
Crescent Communities Construction, Crescent’s in-house construction arm, will be the general contractor. KTGY is the project’s architect and Kimley Horn & Associates will do its civil engineering and landscape architecture.
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Financial partners include Kyuden Urban Development America, the U.S. subsidiary of Kyushu Electric Power Co., Inc., and NEC Capital Solutions America, the U.S. subsidiary of NEC Capital Solutions. Santander Bank is providing debt financing.
Active pipeline
Crescent Communities’ current pipeline includes 15,300 multifamily and single-family build-to-rent units, along with 58,000 square feet of complementary retail space and 7.5 million square feet of office, industrial and life science facilities.
In February, Crescent sold its interest in another North Carolina NOVEL-branded property – the 285-unit NOVEL Ballantyne in Charlotte. Tubridy said at the time the sale aligned with the company’s business plan for the asset and its partner. He noted it was the right time to transition ownership due to the strong market fundamentals and investor interest in well-located multifamily properties.
A busy May for Crescent
In late May, the company broke ground on NOVEL Heritage Park, a 288-unit luxury apartment community in Heritage Park, a 10-acre mixed-use development in Gilbert, Ariz. The property is expected to be completed in 2027.
In mid-May, Crescent opened NOVEL 14th Street, a 197-unit luxury property in Washington, D.C. The seven-story community is located at 2601 14th St. NW, less than 2 miles from the downtown area.
Early in May, Crescent closed on the land purchase for development of HARMON Cedar Run, a 151-unit single-family rental development in Lawrenceville, Ga. The development is the latest in a $345 million joint venture with Heitman as an equity partner.
