Crescent Communities JV Kicks Off Salt Lake City Multifamily Project
- Jul 22, 2021
A partnership between Crescent Communities and MAA has broken ground on NOVEL Daybreak, a 400-unit multifamily development in South Jordan’s suburb of Salt Lake City.
Located at 5502 S. Jordan Parkway, roughly 19 miles from downtown Salt Lake City, the upcoming community is part of the Daybreak master-plan, a 4,100-acre project designed as a largely self-sufficient neighborhood with residential, civil and retail spaces, according to the Congress for New Urbanism’s website.
A Trax light rail line crosses Daybreak, with stations close to Crescent Communities’ development site.
Novel Daybreak will offer a mix of studios and one- and two-bedroom apartments. The community will include a coffee shop, a social house with coworking spaces, a gym and game room, as well as outdoor sitting areas.
Residences will be up for early lease in the second half of 2022, with the first apartments slated for completion by the end of next year.
Crescent’s growing brands
The NOVEL brand, which launched in 2017, includes properties across Florida, Texas, North Carolina, Georgia and Tennessee, among others. The most recent development marks the company’s first foray into the Salt Lake City multifamily market.
Recently, Crescent Communities kicked off a second NOVEL project in Denver. Dubbed NOVEL White Fence Farm, the community’s 202 units are slated for completion in 2023.
Earlier this year, the company announced its expansion to SFR development, with plans for single-family rentals in Atlanta; Charleston, S.C.; and Charlotte and Raleigh, N.C.