Crescent Communities is a real estate investor, developer, and operator of

mixed-use Mixed-use is a kind of urban development, urban design, urban planning and/or a zoning type that blends multiple uses, such as residential, commercial, cultural, institutional, or entertainment, into one space, where those functions are to so ...

communities with headquarters in

Charlotte, North Carolina Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...

. It has approximately 115

employees Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any ot ...

. The company has offices in

Charlotte Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...

, Washington, D.C.,

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,71 ...

Orlando Orlando () is a city in the U.S. state of Florida and is the county seat of Orange County. In Central Florida, it is the center of the Orlando metropolitan area, which had a population of 2,509,831, according to U.S. Census Bureau figures r ...

, Nashville,

Dallas Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...

Denver Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the United ...

, Phoenix, and Salt Lake City.

History

In 1939, Duke Power (now

Duke Energy Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. Overview Based in Charlotte, North Carolina, Duke Energy owns 58,200 watt, megawatts of base-load and peak generati ...

) established a forestry department to manage company land not used for

power generation Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its sto ...

. 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. Some of the original land was sold to Crescent Land and Timber by the

Singer Corporation Singer Corporation is an American manufacturer of consumer sewing machines, first established as I. M. Singer & Co. in 1851 by Isaac Singer, Isaac M. Singer with New York lawyer Edward Cabot Clark, Edward C. Clark. Best known for its sewing mac ...

. 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. As of 1991, Crescent Resources managed 270,000 acres of land. Holdings included part of what became

Lake James State Park Lake James State Park is a North Carolina state park in Burke and McDowell Counties, North Carolina in the United States. Located near Nebo, North Carolina, it covers and borders Lake James. History Started in 1987, Lake James State Park had ...

, which it later sold to the

state of North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...

. Crescent Resources became a separate entity from Duke Energy in 2006, with Duke Energy selling its 49% stake to

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the f ...

. Crescent Resources filed for bankruptcy in 2009, and has emerged from it separated from the

utility company A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and ...

. The company aimed to rebrand itself, renaming itself "Crescent Communities" in 2013.

External links

Crescent Communities

References

{{reflist, colwidth=30em Companies based in Charlotte, North Carolina Real estate companies of the United States