Crescent Adding Greensboro to BTR Portfolio

Crescent Communities will soon break ground on HARMON Jefferson Village, a 130-unit build-to-rent townhome project at 1500 Highwoods Blvd in Greensboro. It’s Crescent’s first BTR community in the area. They have built in Charlotte (photo).

The Triad Business Journal reports the project will cost $50 million. Move-in is slated for a year from now. Copper Builders will handle construction duties.

HARMON Jefferson Village will include three-bedroom and four-bedroom townhomes, ranging from 1,650 to 2,165 square feet. The company estimates that rents will be around $500 to $1,000 less than a monthly mortgage rate in Greensboro.

Outdoor amenities include a pool with nearby pavilion, grilling area and event lawn; an outdoor plaza area with outdoor seating; and a trailhead near an already existing walking trail and two ponds.

Crescent says it’s development portfolio has included more than 86 multifamily communities and 25 million square feet of commercial space since 1963.