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

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

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 and the county seat of Mecklenburg County, North Carolina, Mecklenburg County. The population was 874,579 at the 2020 United ...

. 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 othe ...

. The company has offices in Charlotte, Washington, D.C.,

Atlanta Atlanta ( ) is the List of capitals in the United States, capital and List of municipalities in Georgia (U.S. state), most populous city in the U.S. state of Georgia (U.S. state), Georgia. It is the county seat, seat of Fulton County, Georg ...

Orlando Orlando commonly refers to: * Orlando, Florida, a city in the United States Orlando may also refer to: People * Orlando (given name), a masculine name, includes a list of people with the name * Orlando (surname), includes a list of people wit ...

, Nashville,

Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

Denver Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...

, 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. The company ranked as the 141st largest company in the United States in 2024 – its highest-ever placement on the ...

) 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 stora ...

. 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, which it later sold to the

state of North Carolina North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. stat ...

. 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 bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

. Crescent Resources filed for

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

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 r ...

. 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 1963 establishments in South Carolina Real estate companies established in 1963