Crescent Resources starts construction of Circle Ninth Street apartment
Crescent Resources, LLC has begun construction on the $47 million Circle Ninth Street apartment community in Durham, North Carolina.
The apartments, including landscape design, have been designed by Raleigh's Cline Design Associates and will be developed by Charlotte's State Building Group. Vignette Interior Design of Charlotte will serve as the interior designer. The facility, located on a six-acre area, will comprise a total of 303 apartment units. The apartments will be situated in different buildings covering four floors each. The design of the buildings will draw reference to the current historic Erwin Mill building as well as former factories and warehouses in the area.
The apartment complex will feature a wireless cafe, gaming room, demonstration kitchen, lounge, group study library, business centre, media room and fitness centre. A central lawn, community park, dog park, pool, and fitness courtyard are among its private outdoor spaces. The interior of the units will don a clean contemporary look. The buildings will also incorporate a host of green features such as use of reclaimed industrial materials in their interior.
The project will be funded through an equity investment from Crescent Resources, along with funds from Pearlmark Real Estate Partners LLC and US Bank N.A.
