Crescent Resources will start construction of Crescent Cool Springs, a 252-unit multifamily apartment community in Cool Springs, Tenn., this summer, developing a 13-acre property with close proximity to many of the area’s employers in the Franklin area.
“Crescent Cool Springs will provide this booming region with a convenient and luxury living option that carries Crescent’s standards in quality and community-building,” said Brian Natwick, president of Crescent’s Multifamily Group, which has recently completed construction of Venue at Cool Springs, a garden style multifamily community that was pre-sold to Mid-America Apartment Communities, Inc. in 2010.
Crescent Cool Springs is located at the intersection of Carothers Parkway and Resource Parkway just off Interstate-65 with close proximity to more than 5 million square feet of Class A office space and the region’s leading employers. The live-work-play balance that is the hallmark of Crescent’s developments is enhanced on this property by direct access to the pedestrian-friendly sidewalks and walking and biking trails that provide connectivity to the commercial spaces and rich amenities within the Crescent Cool Springs community.
The 13-building apartment community will be village-like in design, with elements that offer an urban feel. A two-story clubhouse, reminiscent of an old warehouse, offers modern luxuries such as wine lockers, a toasting table, catering kitchen and lounge with media equipment. A state-of-the-art fitness center will feature cardio and Crossfit equipment, and outdoor social spaces include a salt water pool, poolside and remote grilling stations, and fire pits.
The three-story residential buildings will feature one-, two- and three-bedroom units with design elements such as stainless steel appliances, granite countertops and vinyl plank wood flooring for a combination of luxury and durability. Residents also will have access to a selection of tuck-under garages.
The Crescent Cool Springs project is another milestone in Crescent’s comprehensive development portfolio in the Franklin area. Crescent will begin construction this month on Lockwood Glen, a master planned community three miles south of Cool Springs in Williamson County. Crescent also has helped shape the Cool Springs commercial real estate community, selling large parcels of land to Embassy Suites and Nissan America as well as building several offices in the submarket. Since 1998, Crescent has developed nine commercial properties under the Corporate Center brand and in 2009 began its Greenway Center development. One Crescent Greenway, which was the first speculatively-built LEED-certified building in the state of Tennessee, was completed in 2010, and Crescent next will develop the adjacent Two Greenway Center. Both Greenway Center properties feature paths that tie into the Franklin Trail system.
Crescent Cool Springs will follow Crescent’s model for development that is thoughtful and sustainable, and Crescent is pursuing certification from Audubon International as well as National Green Building standards.
The architect for Crescent Cool Springs is Cline Design and the Civil Engineer is Littlejohn Engineering. Interior design is by Vignette. The construction loan is provided by Fifth Third Bank.
Crescent, founded in Charlotte in 1969, is a diversified real estate firm with 20 master-planned communities and eight multifamily communities with 5,400 units under construction and in predevelopment. The company owns approximately 72,000 acres including 1,400 acres zoned for commercial use.