Published on January 7th, 2013 |2
Crescent Resources to begin construction of 355-unit Circle Terminus apartment development in Buckhead
Crescent Resources, LLC has completed its purchase of a three-acre site within Cousins Properties’ Buckhead Terminus development and will begin construction of Circle Terminus, a $67 million 355-unit apartment community.
|Artists rendering of the planned Circle Terminus apartment development|
Crescent and Cousins have been working together for more than a year in the planning for this new addition to Terminus. The architecture of the three, eight-story buildings (three levels of parking topped by five stories of apartment homes) that comprise Circle Terminus blends with the existing contemporary buildings in the development.
The first units are expected to be available in the spring 2014.
BuckheadView has reported extensively on Crescent’s visits with the SPI-12 (special public interest district) Development Review Committee, which suggested several changes to the original plans to make the apartment development more appealing to the public traffic—both vehicle and pedestrian. (For those stories go here.)
|Above is site plan for the Circle Terminus project showing units, amenities|
Circle Terminus is designed to meet Leadership in Energy and Environmental Design (LEED) certification requirements from the U.S. Green Building Council. Lord Aeck & Sargent of Atlanta is the project architect. Southern Civil Engineers of Atlanta serves as the civil engineer while Vignette Interior Design of Charlotte is the interior designer
LandDesign of Charlotte is the land planner and landscape architect, and, and Hardin Construction of Atlanta has been named the general contractor. Greystar, will serve as the property manager.
Unique amenities will include a salt-water resort-style pool, roof-top terraces with skyline views, a wine bar and tavern, fitness center, dog walk park, an art gallery and a business center. The apartments will feature granite countertops, stainless steel appliances, faux hardwood flooring and a custom lighting package.
Circle Terminus is being financed by an equity investment from Crescent Resources. The construction lender is JPMorgan Chase & Co.
|This is an artist rendering of the rooftop terrace area of the apartments|
“This site has all the ingredients for a very successful luxury apartment community,” said Ben Collins, regional director for Crescent Resources. “Its location in the heart of Buckhead is ideal. And, with its existing world-class office space, luxury condominiums, outstanding public art, five-star dining and street level retail, Circle Terminus will offer a unique lifestyle that allows residents an opportunity to work, play and live all within easy walking distances.”
“We selected Crescent Resources for this important aspect of Terminus due to its expertise, experience, financial resources and commitment to sustainable development,” said John McColl, executive vice president of Cousins Properties. “As a proven developer of high-quality, successful apartment communities, they are a welcome addition to the development team at Terminus.”
|Above is an artist rendering of the roadway through the apartment complex|
With the start of the Circle Terminus, Crescent has 2,906 multifamily units in communities valued at $442 million under construction throughout the Southeast. The company has developed more than 20 apartment communities.
While this is Crescent’s first multifamily development planned for Atlanta, Crescent Resources has been an active developer in the metro area for more than two decades. The company developed the residential communities Sugarloaf Country Club and The River Club as well as office and industrial parks Crescent Ridge, Satellite Place, Riverside and Corporate Centre at Deerfield. Along with Manulife Financial, the company is also the developer of Phipps Tower.