Crescent Communities JV Opens Luxury Property in Nashville
The community is the firm's third NOVEL-branded property in the metro.
Crescent Communities, in partnership with Pearl Street Partners, has opened NOVEL Harpeth Heights, a 322-unit luxury multifamily community in Nashville, Tenn. HEDK Architects and 906 Studio Architects provided the project’s designs, while McShane Construction Co. served as general contractor.
The developer broke ground on the project in 2021, financing its construction with a $42.4 million loan from Citibank, according to Yardi Matrix data.
The community comprises four buildings rising four stories, which incorporate one-, two- and three-bedroom floorplans ranging from 549 to 1,529 square feet. Apartments feature Samsung appliances, granite countertops and ceiling fans. Common-area amenities include a fitness center, a dog spa, two swimming pools, an outdoor kitchen and a clubhouse.
Located at 615 Old Hickory Blvd. in the Bellevue neighborhood, the property is off Interstate 40 and roughly 10 miles from downtown Nashville. It is also some 5 miles from the Hillwood Country Club and near multiple large outdoor places and retail options.
An extensive development portfolio
Crescent Communities currently has more than 15,000 multifamily and single-family-rental units under construction, as well as in various planning and permitting stages. The opening of NOVEL Harpeth Heights grows the firm’s footprint in the Nashville market, where it also operates NOVEL Edgehill, a 270-unit property completed last year, and the 435-unit Novel West Nashville, also developed in partnership with Pearl Street.
Recently, Quarterra Multifamily also has opened a 329-unit luxury property in the metro. The community is some 10 miles from Harpeth Heights.