CHARLOTTE, NC - Nationally recognized Crescent Communities celebrated the groundbreaking celebration for what will be Charlotte’s most transformative master-planned development in over 20 years: The River District. The project will include more than 5,000 homes and apartments as well as hotels, retirement units, and 8 million square feet of commercial space. Spanning 1,400 acres including more than 500 acres of preserved land, The River District is nestled between the Catawba River and Charlotte Douglas International Airport and will bring a long-term wave of economic vitality to West Charlotte. At completion, the project is expected to generate over $5.6B of gross annual economic impact for the region and state.
The groundbreaking ceremony commemorated key construction milestones with representatives from Crescent Communities, the City of Charlotte and the State of North Carolina. This first series of milestones includes delivering major utility and roadway infrastructure for The River District’s first mixed use development, Westrow. This area will feature a range of residential offerings including apartments, townhomes and single-family residential lots as well as small retail spaces, restaurants, event space, and office space, all with immediate proximity to trails, parks, an event lawn, and a two-acre working farm. Crescent’s NOVEL brand will anchor Westrow with 514 market-rate apartments as well as 124 mixed-income units in partnership with Charlotte-based affordable housing developer Laurel Street Residential. Crescent Communities is proud to donate land to Laurel Street to achieve a diverse mix of housing and incomes and foster an inclusive community throughout The River District.
“The River District will uniquely infuse energy into Charlotte’s robust housing and lifestyle market, building on years of tremendous growth and demand for a truly mixed-use ecosystem that blends the built environment with natural environment,” said Chase Kerley, Managing Director at Crescent Communities. “The River District’s location along the Catawba River, Charlotte’s only major body of water, will provide urban amenities and public access to the riverfront that has not previously been available to Charlotte. The community’s full spectrum of residential and commercial spaces and proximity to major thoroughfares and the Charlotte Douglas International Airport makes The River District an exceptional location for families and businesses to thrive. By offering an organic blend of urban life and proximity to nature, The River District will truly provide a lasting legacy for the region.”
“Crescent Communities is excited to celebrate this incredible milestone for The River District and the market-changing impact it will have on the greater Charlotte community,” said Brendan Pierce, President of Commercial for Crescent Communities. “The River District will show our commitment to creating a dynamic and sustainable community for future residents, office tenants, retail owners, and visitors alike. We believe in this project and our team is dedicated to ensuring it not just lives up to the vision, but also delivers what our city needs to continue to grow and evolve.”
Underscoring this ongoing commitment to stewardship through environmental, community, wellness, and resiliency initiatives, Crescent Communities is developing an action plan aligned with the One Planet Living sustainability framework for The River District. This plan will set goals in support of equity, circularity, responsible transit, health, and a reduced carbon footprint. Developers around the world use the One Planet Living framework to inform sustainable development, but The River District represents the first community in the Southeast US to use this tool.
Participants in Wednesday’s groundbreaking ceremony included partners from Crescent Communities as well as officials from the City of Charlotte, with remarks by Tracy Dodson, Assistant City Manager and Economic Development Director for the City of Charlotte, and Chris Chung, CEO of the Economic Development Partnership of North Carolina.
“The River District will add to the character of Charlotte and the west side through a decade long public private partnership to deliver an intentionally designed, master planned development,” said Tracy Dodson, Assistant City Manager, City of Charlotte. “Our partnership with Crescent Communities will leverage our investment to contribute to City Council’s renewed commitment to helping residents access affordable places to live, good jobs, and reliable transportation.”