CHARLOTTE, N.C. - Crescent Communities, a developer of multi-unit apartments and single-family homes, has launched its own home building business, Fielding Homes. Its first development will be a single-family project with 64 homes in Fort Mill, South Carolina. The company is also building in North Carolina, in Charlotte and Raleigh.
“We saw an opportunity in the production homebuilding business to improve the process, make it more personalized for the homebuyer, and therefore elevate the entire experience," said Andy Carmody, President of the Crescent Communities Residential Division.
Fielding Homes plans to develop a portion of lots within Crescent’s residential developments throughout the Sun Belt while Crescent will continue to work in tandem with the other homebuilders engaged by the company.
Fielding Homes will kick off this spring with 64 lots at Masons Bend, located near downtown Fort Mill, South Carolina. The homes range in size from 2,800 square feet to 4,000 square feet, with a price point starting in the mid-$300’s. The first model home is currently under construction with three additional models to follow.
Crescent Communities is known for developing innovative and successful communities through careful examination of local market preferences and extensive consumer research. The same methodology was employed to define the Fielding Homes approach to homebuilding. Based on a thorough study of local market preferences and detailed consumer research, Fielding Homes will initially offer more than a dozen distinct floor plans. Each of these plans can be combined with up to six authentic exterior elevations designed according to the region’s rich history. Interior spaces will offer a variety of well thought-out flexible configurations, allowing an enhanced level of personalization.
The Fielding Homes’ team is led by Executive Vice President, Scott Widener, Division President, Steve Francis, and Vice President of Sales, Jumana Kayed. Collectively they lead a corporate team of 12 development and sales and marketing experts.
“As one of the nation’s leading residential developers, it is a natural progression for us to extend our successful approach into homebuilding and to further enhance our communities by overseeing the development process from start to finish,” said Todd Mansfield, CEO of Crescent Communities.
Previously the company has developed lots and turned to other builders for construction. Tyler Niess, chief marketing officer for Crescent Communities, told the Wall St. Journal the developer believes there is more upside remaining in single-family homebuilding.
"Crescent's belief is that single family has a longer runway and hasn't recovered to the extent multifamily has," Niess said. Millennials are just beginning to enter the market, according to Crescent.
Crescent has developed more than 50 master-planned and resort communities in North Carolina, South Carolina, Florida, Georgia, Tennessee, Arizona and Texas. Founded in 1963, Crescent assets are valued in total at over $1.2 billion.
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