# Crescent Communities

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**Crescent Communities** is a real estate investor, developer, and operator of [mixed-use](/source/Mixed-use_development) communities with headquarters in [Charlotte, North Carolina](/source/Charlotte,_North_Carolina). It has approximately 115 [employees](/source/Employment). The company has offices in [Charlotte](/source/Charlotte,_North_Carolina), Washington, D.C., [Atlanta](/source/Atlanta), [Orlando](/source/Orlando,_Florida), Nashville, [Dallas](/source/Dallas), [Denver](/source/Denver), Phoenix, and Salt Lake City.

## History

In 1939, Duke Power (now [Duke Energy](/source/Duke_Energy)) established a forestry department to manage company land not used for [power generation](/source/Electricity_sector_of_the_United_States). In 1963, this department became the company South Carolina Land and Timber. As the holdings expanded to include land in North Carolina, the organization was renamed Crescent Land and Timber in 1969.[1] Some of the original land was sold to Crescent Land and Timber by the [Singer Corporation](/source/Singer_Corporation).[2]

In the mid-1980s, the company was renamed Crescent Resources as it began to actively develop residential communities. Crescent Resources began work on its first commercial development, Coliseum Centre, in 1990.[3] As of 1991, Crescent Resources managed 270,000 acres of land.[4] Holdings included part of what became [Lake James State Park](/source/Lake_James_State_Park), which it later sold to the [state of North Carolina](/source/North_Carolina). Crescent Resources became a separate entity from Duke Energy in 2006,[5] with Duke Energy selling its 49% stake to [Morgan Stanley](/source/Morgan_Stanley).[6]

Crescent Resources filed for [bankruptcy](/source/Bankruptcy_in_the_United_States) in 2009, and has emerged from it separated from the [utility company](/source/Public_utility). The company aimed to rebrand itself, renaming itself "Crescent Communities" in 2013.[7]

## References

1. Properties, Jocassee Real Estate Company - Lake Keowee and Lake Jocassee. ["Lake Jocassee History - Jocassee Real Estate Company"](https://web.archive.org/web/20170803045327/http://www.jocasseerealestate.com/arealakes/lakejocassee/lakejocasseehistory.aspx). *www.jocasseerealestate.com*. Archived from [the original](http://www.jocasseerealestate.com/arealakes/lakejocassee/lakejocasseehistory.aspx) on August 3, 2017. Retrieved 2017-08-02.

1. ["RESOURCE MANAGEMENT PLAN FOR JOCASSEE GORGES PROPERTY"](http://www.dnr.sc.gov/land/publications/jocplan.html). *www.dnr.sc.gov*. Retrieved 2017-08-02.

1. Boye, Will (18 November 2011). ["Charlotte's Coliseum Centre complex is being marketed for sale"](http://www.bizjournals.com/charlotte/print-edition/2011/11/18/coliseum-centre-complex-is-being.html). *www.bizjournals.com*. Retrieved 2017-08-02.

1. Skoog, Joanne (1991-02-10). ["NATIONAL NOTEBOOK: Charlotte, N.C.; Energizing Golf Projects"](https://www.nytimes.com/1991/02/10/realestate/national-notebook-charlotte-nc-energizing-golf-projects.html). *The New York Times*. [ISSN 0362-4331](https://www.worldcat.org/issn/0362-4331). Retrieved 2017-08-02.

1. ["Forgotten Land"](http://www.charlotteobserver.com/living/lake-norman-magazine/article9205721.html). *charlotteobserver*. Retrieved 2017-08-02.

1. ["Duke Energy Sells Stake in Crescent Resources | News & Rankings | About | Skadden, Arps, Slate, Meagher & Flom LLP"](https://web.archive.org/web/20160828015607/https://www.skadden.com/news-events/duke-energy-sells-stake-crescent-resources). *www.skadden.com*. Archived from [the original](https://www.skadden.com/news-events/duke-energy-sells-stake-crescent-resources) on August 28, 2016. Retrieved 2017-08-02.

1. Boye, Will (2 Apr 2013). ["Crescent Resources changes name to Crescent Communities"](http://www.bizjournals.com/charlotte/blog/real_estate/2013/04/crescent-resources-changes-name-to.html). *www.bizjournals.com*. Retrieved 2017-08-02.

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Adapted from the Wikipedia article [Crescent Communities](https://en.wikipedia.org/wiki/Crescent_Communities) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Crescent_Communities?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.