Charlotte-based Crescent Resources has acquired 221 acres in Tennessee to build a new master-planned community that will include for-sale homes and apartments.
Called Lockwood Glen, the project will include up to 384 for-sale homes and 240 apartments. Construction of the first phase, to include 70 single-family homesites and 27 townhomes, will begin in March. The property is located along the east side of the I-65 corridor about one mile south of Murfreesboro Road.
Long active in the commercial and multifamily development sectors in Nashville, Crescent is the master developer of the Cool Springs office parks Corporate Centre and Greenway Centre, as well as the luxury apartment community Venue at Cool Springs. In addition Crescent owns 60 acres in Cool Springs that are entitled and planned for an additional 750,000 square feet of Class A office space. The company is also the developer of CentrePoint Distribution Park, a warehouse and distribution center in LaVergne, Tenn.