[Sumitomo Forestry Co., Ltd.] Sumitomo Forestry Group, U.S.
comprehensive real estate development company “Crescent Communities” Awarded the highest award from NAHB (National Association of Home Builders)
*View in browser* *Sumitomo Forestry Co., Ltd.*
Press release: May 8, 2024
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Sumitomo Forestry Group, U.S. comprehensive real estate development company “Crescent Communities”
Awarded the highest award from NAHB (National Association of Home Builders) *〜 Multifamily Pillars of the Industry Awards 2023 〜*
Crescent Communities, LLC (CEO: Brian
NOVEL University is a luxury rental apartment complex developed by Natwick, headquartered in Charlotte, North Carolina (hereinafter referred to as Crescent).
“Place” stands for NAHB (National Association of Home Builders). Best Garden of “Multifamily Pillars of the Industry Awards 2023” sponsored by NAHB*1)
We won the Grand Prize in the Apartment Community (Four Stories or Less) category.
NOVEL University Place
“Multifamily Pillars of the Industry
The Awards recognize companies and projects that develop multifamily housing across the United States by evaluating creative development concepts, innovative financing strategies, excellent design, and marketing. One project/company in each of the 18 categories will be recognized as the grand prize. “NOVEL
“University Place” is a category that awards projects of garden type (4th floor or below)*2, Best Garden Apartment.
Awarded for Community (Four Stories or Less). NOVEL Turtle, an apartment complex project in Dallas, Texas
Creek” is Best High-Rise Apartment Community (10+ Stories)
*Nominated as a finalist in 3 categories.
Crescent develops apartment complexes and commercial complexes mainly in the Sunbelt region of the United States, which is experiencing rapid economic growth. In 2019, NAHB awarded Multifamily the Best Multifamily Housing Developer.
Development Firm of the Year” and “Multifamily Pillars of the Industry” in 2022. Awards
It has received high praise from stakeholders and the market, including winning the highest award in two categories in 2021. The company has a track record of developing medium- to large-scale wooden buildings as well as high-value-added real estate that has acquired environmental certifications such as LEED and NGBS.
The Sumitomo Forestry Group globally operates businesses centered on wood, from forest management to the manufacture and distribution of wood building materials, contracting for single-family homes and medium- to large-scale wooden construction, real estate development, and wood biomass power generation. Long-term vision until 2030 “Mission
TREEING
2030, we aim to increase CO2 absorption in forests by implementing Sumitomo Forestry’s Wood Cycle value chain, fix carbon over the long term through the widespread use of wooden buildings, and contribute to decarbonizing not only our company but society as a whole. We are aiming for We will promote “evolution of global expansion,” which is one of our business policies in our long-term vision, and accelerate our efforts toward decarbonization in the United States.
[NOVEL University Place*4 /Charlotte, North Carolina]
There are various commercial facilities such as restaurants and supermarkets within walking distance of the property. The property has a wide range of common facilities, including a pool, club room, gym, study, BBQ grill, outdoor yoga space, and dog run. The city received this award in recognition of its attention as a venue for community events and its environmentally friendly efforts, such as sustainable power sharing through the installation of solar panels.
*1 NAHB is the largest homebuilding industry association in the United States, with a history of over 80 years since its founding in the 1940s, and over 140,000 members.
*2 Generally refers to an apartment complex consisting of one or more low-rise buildings (3-5 floors) built on a large site with green space and surface parking.
*3 A category that recognizes high-rise (10th floor or higher) projects. The grand prize went to a project other than NOVEL Turtle Creek.
※Four
NOVEL is a product brand developed by Crescent Co., Ltd. for apartment complexes, and its meaning is to create assets with “novel and unique” ideas that have stories like “long-length novels.” The brand aims to develop each property with a distinctive design based on location characteristics and local history.
-Property Description-
Property name: NOVEL University Place
Address: 5315 Waters Edge Village Drive, Charlotte, NC 28262 Total number of units: 308 units
Structure: Wooden 3-5 stories
Start of construction: October 2021
Completion: September 2023
Environmental certification: NGBS Bronze Certification
■About Crescent
Crescent is headquartered in Charlotte, North Carolina, on the southern east coast, and develops apartment complexes, commercial complexes, and logistics facilities in areas with high employment growth rates in the United States, including the Sunbelt. We have the functions necessary for real estate development, such as land acquisition, financing, construction supervision, and rental management, as well as a track record of developing high-value-added real estate that has acquired environmental certifications such as LEED and NGBS, and we have earned deep trust from stakeholders. .
Crescent plans development with consideration for the local community through workshops called “Canvas Sessions” at all of its apartment complexes, including the properties that won this award. The workshop was attended by development stakeholders such as JV partners, financial institutions, general contractors, design offices, and rental management companies, as well as local residents and restaurant managers, to deepen their understanding of the history and
characteristics of the area. At the same time, we will create a basic concept that will become the axis of development.
In January 2022, we announced the RENDER brand in addition to the NOVEL brand, which is a conventional apartment complex product. The brand aims to streamline design and construction by specializing in popular and versatile housing types and specifications based on the experience cultivated with the NOVEL brand, and provides high-quality equipment and amenities at a low price range. We offer attractive, well-appointed homes. By adding the RENDER brand to the NOVEL brand, we will continue to provide high-quality housing to a wider range of areas and tenant groups. The brand’s first property RENDER,
construction started in January 2022
The company has developed multiple properties mainly in the suburbs of cities in the Sunbelt area, where the company focuses, including Covington (near Atlanta, Georgia).
Crescent Company Overview
Head Office: Charlotte, North Carolina
Representative: Brian Natwick (President, CEO)
Employees: 201 (as of December 2023)
History: The forestry division was established in 1939 by Duke Energy, an electric power company founded in 1904.
Originated in 1990, we entered the real estate development business. A wholly owned subsidiary of Sumitomo Forestry since July 2018. Business overview: In 17 cities in 10 states and 1 special district in the southeastern and southwestern United States, centered on Charlotte.
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