SOURCE: Mark-Taylor


April 01, 2015 18:58 ET

Crescent Communities Begins Preleasing Crescent Scottsdale Quarter

Crescent Scottsdale Quarter, North Scottsdale's Most Desirable Address, Announces the Opening of Their Leasing Office in the Heart of Scottsdale's Premier Shopping, Dining and Entertainment District

SCOTTSDALE, AZ--(Marketwired - April 01, 2015) - Crescent Communities is now preleasing Crescent Scottsdale Quarter, a 275-unit, luxury apartment community. The only residence within the luxurious Scottsdale Quarter open-air retail center, Crescent Scottsdale Quarter is set to open in July, bringing upscale amenities, grand views and a unique penthouse rental offering to one of Scottsdale's most sought-after areas.

"With the proximity to upscale shopping, dining, and recreation, the living experience at Crescent Scottsdale Quarter will be unrivaled," said Scott Makee, regional director of Crescent's multifamily group. "We anticipate the allure of living in the center of a destination retail center will prompt a great response."

In the coming weeks, Crescent and luxury apartment manager Mark-Taylor Residential are offering hard hat tours highlighting the community's floor-to-ceiling skyline views of the McDowell Mountains, front-door access to hip restaurants and shopping destinations, and a sleek design and contemporary features not commonly found in the Valley's multifamily market.

Crescent Scottsdale Quarter is within a mile of more than 100 shops, dozens of restaurants and bars, salons and award-winning golf courses. The official residence of Scottsdale Quarter, it is located on the northeast corner of North 73rd Place and North Greenway Hayden Loop near the area's other high-profile shopping destination, Kierland Commons. It is anticipated to be the highest-end rental in the zip code, featuring unhindered views of the McDowell Mountains. With employers including Starwood, Capital Group and a new Class A-office building taking shape in the area, the team anticipates high occupancy as soon as the first units are available in July.

Interiors at the smoke-free, pet-friendly community feature quartz countertops, wood cabinetry and stainless steel appliances, designer lighting, wood-style plank flooring, washer/dryer units and lofty 10-foot ceilings. The spacious studios and one- and two-bedroom lofts will range in rent from $1,200 to $4,000. Crescent Scottsdale Quarter also includes 56 penthouse units -- rare among rental communities in the area, with most penthouses located in condominium towers. The top floor will be secured, and penthouse units will have upgraded finishes including hardwood flooring and GE Profile appliances.

The resort-style common areas include a saltwater pool, sundeck, grill and fire pit, two-level fitness center with a separate yoga/barre studio, luxurious lounge for entertaining, wine-tasting room, digital/texting concierge service and a pet salon.

Crescent Scottsdale Quarter is financed by equity from Crescent Communities and Glimcher Realty Trust, with a construction loan from Regions Bank. Whiting-Turner Contracting Co. is the builder, the design architect is Nelsen Partners, Inc. and Kimley-Horn and Associates is the civil engineering partner.

About Crescent Communities
Crescent Communities, LLC is a leading real estate investment and operating firm driven to create long-term value by developing thoughtful, sustainable communities that improve people's lives. Founded in 1963, Crescent's original mandate as a land management company continues to inform its commitment to the wise stewardship of natural resources. The company finances, plans and develops properties in the Sunbelt and Mid-Atlantic markets that represent more than 50% of the U.S. population growth over the next decade. Its multi-product platform includes residential, multi-family, mixed-used, commercial and land assets, valued in total at $1.2 billion. Crescent's robust capital deployment, seasoned leadership team, and model of sustainability enable the company to maximize opportunity in a recovering real estate market.

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