With a blend of comic-inspired aesthetics and bold typography, this artwork captures the essence of positive energy and support. The use of thick outlines, exaggerated facial expressions, and a high-contrast palette evokes a sense of excitement and fun. The stylized hand reaching forward symbolizes an invitation—to help, to connect, to uplift. This illustration is a playful yet meaningful reminder that kindness and support can transform both individuals and communities.
About the Cover Artist
George F. Baker III, also known as GFB3, is a Nebraska-born, Detroit grown, and Atlanta-raised creator. Using his instruments of design, illustration, and production, he employs a playful childlike spirit to engage the inner child we all have. Currently, he is the Creative Director of Foster, a studio-collective striving to make people unafraid to play. Explore his work on Instagram @gfb3.
From Our Leaders
As leaders in the real estate industry, we at Crescent Communities have an extraordinary opportunity and responsibility to shape the future of our communities.
Brian Natwick Chairman & CEO
Tracy Chambers Executive Vice President, Chief People Officer
Erika
Ruane Stewardship Manager
Sustainability is no longer just an aspiration; it is a commitment that defines the way we plan, design, and build. At Crescent Communities, we recognize the urgency of addressing climate change, resource efficiency, and environmental stewardship in every project we undertake. We believe real estate development goes beyond building structures — it’s about fostering lasting communities that promote the well-being of people and the planet.
We believe sustainability and philanthropy go hand in hand, which is why we call those initiatives together, Stewardship.
These initiatives not only demonstrate our environmental responsibility and community appreciation, but also deliver measurable benefits to our residents and investors. Sustainability isn’t just good for the planet — it’s good for business, as it drives innovation, reduces operational costs, and enhances long-term value, while our philanthropic efforts reinforce our commitment to the communities we build in and call home.
Our progress in sustainability is not possible without collaboration. We are proud to work with forwardthinking partners, architects, engineers, and local communities who share our vision. We will continue to measure our impact and set ambitious goals for carbon neutrality, resource conservation, and innovation, recognizing that sustainability is an evolving journey. As technologies and methodologies improve, so will our practices. We are committed to transparency and will share our progress through our annual Stewardship Report.
Thank you for being part of this important mission. Together, we can create a built environment that embodies innovation, responsibility, and care for our world, to truly Build Communities and Better People’s Lives.
Who We ArE
Crescent Communities is a nationally recognized, market-leading real estate investor, developer, and operator of mixed-use “communities.” We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 93 multifamily communities and 26 million square feet of commercial space. Crescent Communities has offices in Charlotte, Dallas, DC, Atlanta, Orlando, Nashville, Denver, and Phoenix. Our multifamily communities are branded NOVEL, RENDER, and HARMON by Crescent Communities, our industrial developments are branded AXIAL by Crescent Communities, and our life science developments are branded THE YIELD by Crescent Communities. Our values are to Do What’s Right, Be Curious, Innovate Always, and Deliver Excellence.
NOVEL Beach Park, Tampa, FL
Our Footprint & Platform 17 Markets
Atlanta, GA
Austin, TX
Charleston, SC
Charlotte, NC
Dallas, TX
Denver, CO
Greensboro, NC
Greenville, SC
Nashville, TN
Orlando, FL
Phoenix, AZ
Raleigh, NC
Houston, TX 8 Offices
Richmond, VA
Salt Lake City, UT
Tampa, FL Washington, D.C.
2024 ESG Highlights
At Crescent Communities, we strive to make decisions that address both current and future challenges, while having a positive impact on the planet, people, and places we build and call home. We hold ourselves accountable through regular evaluation of our practices and ongoing measurement. We seek to create legacies, the value of which builds with time. Our goal is to ensure that the communities under our stewardship flourish for years to come. The pages of our Stewardship Report outline our commitment to our four pillars of Stewardship: Environment, Community, Wellness, and Resiliency.
Being good stewards is fundamental to the pursuit of our mission to Build Community and Better People’s Lives.
$100,000
raised for The ROC Charlotte during our inaugural Happy Givemore Invitational
The River District named a Bioregional One Planet Living Leader
22,244
100% tons of waste diverted from the landfill, the equivalent of 1,854 big yellow school buses of our multifamily and office developments have installed EV charging stations
100%
890+
hours volunteered in our communities of projects achieved green project certifications
Received the Commercial Real Estate Development Association’s (NAIOP) highest honor: Developer of the Year
The River District, Charlotte, NC
2Environmental Stewardship
To build prosperous and healthy communities within the ecological limits of our planet, it is essential to tackle climate change with disciplined and thoughtful development. We have adopted environmental sustainability principles, practices, and processes to both sustain the environment and support thriving economies. We seek to inspire our colleagues, residents, and the broader development community to make positive changes that enable ecosystems to flourish.
Environmental Impact Metrics
In 2024, we continued to refine the management and reporting of the environmental impact of our multifamily and office developments. As we capture more robust data, our results become more accurate and reliable.
ENERGY USE
WATER USE
Making an Impact
Crescent Communities is committed to setting the industry standard for carbon reduction in the real estate industry, driving meaningful sustainability efforts. While our impact metrics show quantitative data we can compare year over year to gauge performance and overall reduction in consumption, we also value our work that can’t be as easily measured. We believe that making meaningful environmental impact goes beyond energy, water, and waste reduction in our communities and developments. In 2024, we endeavored to move the needle on Ecosystem Restoration, Circular Economy, and Innovation & Education to spread our message, enhance our communities, and better the lives of the people, plants, and animals who live in them.
The River District, Charlotte,
Ecosystem Restoration
In 2023, Crescent Communities, led by the Catawba Lands Conservancy, began a biodiversity study of over 400 plant and animal species in the over 500 acres of preserved green space at The River District development. In 2024, we completed the study, conducted another round of surveys, and joined forces with representatives from the Catawba Lands Conservancy, Carolina Raptor Center, and NC Wildlife Federation to instruct
us on how to support the habitats of our surveyed plants and animals. This work, as part of our larger One Planet Living® framework, earned The River District Leader designation by Bioregional. One Planet Living® Leader projects showcase the very best use of the framework and are a gold standard in placemaking. There are hundreds of One Planet Living® projects around the world, but only the very best achieve leadership recognition.
One Planet Living®
Developed by Bioregional, a nonprofit organization based in the UK, One Planet Living® is a global framework that encourages the incorporation of 10 elements of sustainability into the design and development of communities and cities. Unlike a traditional certification program, a One Planet Living® Action Plan serves as a framework and represents a commitment to building and developing in accord with the principles that support the health of the environment and the wellness of the people.
THE TEN PRINCIPLES OF ONE PLANET LIVING
Circular Economy
As a builder and developer, Crescent Communities understands the role that materials play in our business while being mindful of the toll they take on the planet. We strive to reuse materials as much as we can, while also maintaining the integrity and level of quality of our communities and developments. In fall 2024, after reviewing The River District’s biodiversity study and discovering the diverse bird species on our property, our team, in collaboration with She Built This City, Carolina Raptor Center, NC Wildlife Federation, and the Catawba Lands Conservancy — built 13 birdhouses for our preserved nature space. Using repurposed wood from harvested trees from the property, we created new habitats to support American kestrels, brown-headed nuthatches, prothonotary warblers, and barred owls. The day ended with a rehabilitated barred owl release by the Carolina Raptor Center at the site, hopefully establishing The River District as its new home.
Additionally, the reception desk at our NOVEL Ballantyne development was integrated into the tenant amenity center at the One Independence Center tenant lounge, giving it new life and reducing waste. As part of our renovations, three large community games in the tenant lounge at One Independence Center were donated to local nonprofits Classroom Central and She Built This City. We also upcycled our construction banners for our One Independence Center development and turned them into reusable bags, partnering with ArtPop’s talented artists. Moving forward, we remain committed to finding new opportunities to repurpose materials in our future developments.
NOVEL Ballantyne, Charlotte, NC
Innovation & Education
Crescent Communities believes innovation and education are paramount to carbon footprint reduction. We have installed solar photovoltaic arrays and smart building systems, among other initiatives, and partnered with local nonprofits like DigiBridge, the Charlotte Symphony Orchestra, Greenhouse Scholars, and The Roc Charlotte to support ongoing learning.
Our commitment to education, especially in the STEAM (science, technology, engineering, arts, and math) topics are important to our business as well as the planet. While the impact of supporting students may not materialize in one calendar year, we remain focused on the future, knowing that as they enter the workforce, they will one day drive positive change in our industry — fostering innovation, creating new opportunities, advancing upward mobility, and uplifting others along the way.
Greening Our Projects
To underscore our commitment to the design, construction, and operation of high-performing, efficient buildings, we seek sustainability and wellness-based certifications. These certifications not only provide a roadmap to guide our practices and ensure results, but they also ensure that all partners involved in the development from ideation to completion have the same goals in mind. We invest to create environments that support physical and emotional well-being. When we design communities where healthy choices are easy to make, we in turn support the well-being of every person who lives, works, and plays there. The places we create then become the catalyst for a healthier and happier lifestyle, not only for our residents and tenants, but for the greater community.
OVERALL GREEN BUILDING CERTIFICATIONS
67 Completed Communities
16,742 Completed Residences
18 Communities in Process
3,816 Residences in Process
NOVEL University Place, Charlotte, NC
Leadership in Energy and Environmental Design (LEED)
The most widely used green building rating system in the world, LEED certification provides independent verification of a building’s green features, encouraging the design, construction, operations, and maintenance of resource-efficient, high-performing, healthy buildings. Crescent Communities pursues LEED certification for commercial office spaces, industrial developments, and select multifamily communities.
WELL
Administered by the International WELL Building Institute, the WELL Building Standard is a performancebased system for measuring, certifying, and monitoring features of the built environment that impact human health and well-being. The rigorous certification process marries strategies in design, construction, and operations to lead to a built environment that supports improvements in nutrition, fitness, mood, sleep, comfort, and performance of its occupants. The features of WELL Certification are organized into 10 concepts that drive health and well-being.
The National Green Building Standard™ (NGBS)
NGBS is a third-party certified residential building guideline that offers certification specifically for residential construction. NGBS Certification indicates that a building has been designed and constructed in a manner that promotes improved health, lower operating costs, and a lighter environmental footprint. Certified communities must achieve a minimum number of points in each of the six categories.
FITWEL
Fitwel is a building certification system that supports healthier living and working environments to improve occupant wellness and productivity. The Fitwel Certification System offers 50+ evidencebased design and operational strategies to optimize the health-promoting impact of the built environment.
ULI Greenprint
Crescent Communities is a member of the Urban Land Institute (ULI) Greenprint Center for Building Performance. A global alliance of leading real estate owners, investors, and strategic partners, ULI Greenprint is committed to improving the environmental performance of the global real estate industry.
NOVEL RiNo
ACHIEVEMENTS
NGBS Silver and Fitwel
Located in Denver, Colorado and envisioned to be eclectic and original multifamily living, NOVEL RiNo is a home for culture and vision. Features supporting environmental sustainability and wellness at NOVEL RiNo include:
Highly efficient building with continuous R20 insulation and reflective ENERGY STAR roof material.
WaterSense Certified irrigation controller ensures the highest efficiency in community watering systems.
Above-code low-E windows increase comfort and reduce dependence on heating and A/C.
ENERGY STAR rated appliances and lighting reduce energy use and lower bills.
Improved indoor air quality through low-VOC materials and finishes, and high-efficiency filtration and ventilation systems. PROJECT SPOTLIGHT
Community drip irrigation ensures water is not wasted by placing it exactly where it needs to be.
Water conserving bath fixtures and appliances reduce water use while maintaining effectiveness.
The location promotes a healthy lifestyle with a fully equipped bike shop, a tranquility courtyard, and walkable access to amenities.
The 2022 Stewardship Report featured CHD:WCK! as the artist on its cover. This partnership grew, with CHD:WCK! selected to create a mural for NOVEL RiNo (pictured). He is a non-traditionally trained (self-taught) visual artist, whose aesthetic tastes were shaped in and around East Orange, New Jersey. The Crescent Communities team saw this as an opportunity to support and strengthen the relationship with a current artist, while introducing art from Charlotte-based CHD:WCK! to the Denver community.
3
Social Impact & Community Building
Crescent Communities recognizes and values a diverse and inclusive workforce. Diversity embodies all differences: life experiences, professional background perspectives, cultures, religions, ethnicities, gender, age, socioeconomic status, and other aspects of life, all that make us unique individuals. Crescent Communities encourages diversity in its colleagues, values their differences, and endeavors to treat all colleagues with respect.
We support opportunities to build a more diverse, equitable, and inclusive community for our colleagues, partners, customers, and neighbors. When we provide opportunities for all, not only do we allow for productive communities to form and flourish, but we also create economic success.
Diversity, Equity, & Inclusion Task Force
In 2020, the Crescent Communities Executive Committee established a Diversity, Equity, & Inclusion Task Force, supported by three volunteer-based committees. Led by our Executive Vice President, Chief People Officer, Tracy Chambers, the Task Force acts to uphold its critical mission. In 2024, the committees continued to reinforce the mission to create opportunities for all through an open and honest dialogue and develop proactive solutions that will lead to a more inclusive workforce, not as a separate workgroup, but fully integrated throughout projects, developments, and daily decisions.
Learning & Conversations Committee
EXECUTIVE SPONSORS
Ben Collins, Jay Curran
LEADER
Katie Congdon
MEMBERS
Simon Andrew, Aldo Muccia, Erika Ruane, Kesha Smith, Justin Cislo
HIGHLIGHTS
PURPOSE
Offer all colleagues opportunities to gain new perspectives and share in conversations to become more aware, compassionate, and engaged in the quest for inclusion.
Updated this program to pair each learning session with a related volunteer opportunity to support the material covered.
QUARTER ONE
Affordable Housing: Ascent Housing
Crescent Cares: Tree planting at Swan Run Apartments with Trees Charlotte and Barings
QUARTER TWO
Food Insecurity: Deep Roots CPS Farm, The Bulb, West BLVD Neighborhood Coalition; moderated by Charlotte is Creative
Crescent Cares: Rescued food sorting with the Bulb; food distribution with Freedom Communities and Nourish Up; boxing up packaged food with Second Harvest Food Bank
QUARTER THREE
Challenges and Opportunities in Education: Communities in Schools, Digi-Bridge, The ROC Charlotte, Classroom Central; moderated by Charlotte is Creative
Crescent Cares: Classroom Central School Tools Supply Drive (donated $2,500 and over 3,600 supplies)
QUARTER FOUR
Understanding our Aging Population: NOVANT Health, AARP, Centralina Area Agency on Aging; moderated by Charlotte is Creative
Crescent Cares: Salvation Army Silver Bell Program (donated $1,000 to Charlotte seniors via giftcards)
EDUCATIONAL SESSIONS
Throughout the year, Crescent Communities hosted multiple educational sessions to share diverse perspectives on topics, educate our colleagues, and foster a sense of inclusion. One of those sessions was “Teaming Inclusively,” led by Scott Horton (pictured left), where we delved into the impact of our identities on collaboration, client relationships, and problem-solving. Participants explored individual lenses and filters and gained insights on partnering effectively with colleagues and achieving successful outcomes. Another was “Navigating Generational Differences in the Workplace” with Jessica Hall. This topic is crucial in today’s multigenerational workplace and enhanced understanding of the diverse perspectives and working styles of different generations, to foster a more inclusive and collaborative work environment.
Vendor Partnerships Committee
EXECUTIVE SPONSORS
Tracy Chambers, Daniel Cooper
LEADER
Erika Ruane
MEMBERS
Eoin Breen, Jonathan Bedford, Tommy Brehm, Nathan Forrest, Greg Coolidge
HIGHLIGHTS
PURPOSE
Support partnerships that foster diversity, equity, and inclusion while encouraging increased minority and women-owned business enterprise (MWBE) participation across vendor relationships in all areas of construction and business operations.
Continued to install formal processes for tracking vendor MWBE status, create opportunities to connect with MWBE vendors, and track MWBE vendor participation in our developments.
6TH ANNUAL MINORITY AND SMALL BUSINESS OUTREACH EVENT
More than 100 people attended our 6th Annual Minority and Small Business Outreach event in July. Vendors, general contractors, trade partners, elected officials, and other government representatives joined Crescent Communities at the Innovation Barn in Charlotte. Attendees learned about our pipeline of development opportunities and our commitment to building a diverse and welcoming work environment and industry. Representatives from our key general contract partners were also in attendance to network and encourage participation with minority groups across our development footprint.
Recruiting Committee
EXECUTIVE SPONSORS
Tracy Chambers, Jason LaBonte
LEADER
Tracy Chambers
MEMBERS
Sagar Rathie, Jack Barnett, John Paulus, Tamesha Coleman, Kevin Gzym
HIGHLIGHTS
PURPOSE
Increase hiring sources and expand partnerships, including with Historically Black Colleges and Universities (HBCUs), along with a wide variety of recruitment sources, to find the best talent, while also working to ensure equal internal growth opportunities.
External: Due to economic conditions in 2024, external hiring was minimal, however we did welcome five new colleagues. We also continued our partnership with The ROC Charlotte, a nonprofit organization with a mission to educate and mentor high school students for technical roles and career opportunities in the construction industry. Through this partnership, we welcomed back Omari Nelson, who continued his Crescent Communities internship part-time while taking college courses, as well as hired Ximena Perez, a graduate from The ROC, as a full-time Project Associate.
HIGHLIGHTS
Internal: Crescent Communities offered 23 total internal promotions, many as part of the career progression program. One of these was Heather Kels, who was promoted to Executive Vice President, Chief Financial Officer on the Executive Committee.
PROFESSIONAL GROWTH AND NETWORKING OPPORTUNITIES
In addition to the Recruiting Committee’s efforts to expand colleague personal and professional growth and provide networking opportunities, Crescent Communities encouraged colleagues to grow and develop through several training opportunities and workshops throughout the year.
Bridge Builder Conversation Series
Crescent Communities’ Executive Vice President, Chief People Officer, Tracy Chambers, was invited to join the fourth Bridge Builder Leadership Cohort. The cohort is a peoplecentered experience that brings together a diverse group of 12 leaders. Together, they explore the powerful impact cultivating authentic relationships across differences can have on advancing efforts of bridging divides, valuing others, and addressing the barriers that prevent leaders, organizations, and communities from achieving their collective best.
Mentor Program
In 2022, Crescent Communities launched a mentorship program inspired by internal feedback, designed to foster both professional and personal growth among colleagues. The goal of the program is to provide a structure that connects mentors and mentees and supports the engagement, learning, and growth of colleagues and their careers. Everyone is open to participate and benefit from a mentoring relationship. A targeted approach was utilized to determine subject areas through colleague surveys. In 2024, an introduction class was added with Tracy Chambers, Ben Collins, and Kevin Gzym to share tips on how to make the most of the mentorship opportunity. There were a total of 60+ participants in the 2024 program. Topics included Directing and Delegating, Effective Deal Making Strategies, Negotiation, Presentation and Pitch Skills, and Conflict Resolution/Courageous Conversations.
CREW Leadership Program
The CREW Network Leadership Certificate program features year-long specialized leadership development, industry training, and mentorship. In 2024, Jennifer Sharabba and Jennifer Cantor were
Summer Associates
More than interns, Crescent Communities Summer Associates play key roles on our internal teams and enhance external community support. The program provides opportunities to learn, share ideas, and gain perspective alongside some of the industry’s best and brightest. In 2024, we hosted 10 Summer Associates in construction, development, finance, and marketing roles — three of which returned from 2023.
accepted into the program, which is an intensive journey through self-discovery, arming them with tools to achieve their full authentic leadership potential.
Community Building Initiative
Crescent Communities is honored to establish a partnership with the Community Building Initiative (CBI), a nonprofit organization with a mission to give people and organizations the knowledge, skills, and courage to fight bias, remove barriers to opportunity, and build a more equitable Charlotte-Mecklenburg area. For each of the last five years, two rising leaders within our organization have been chosen to participate in CBI’s LU40 program, Leadership Under 40. These young leaders will use the knowledge they gain through the program to help create positive, impactful change within Crescent Communities, in the real estate development industry, and throughout the greater community.
Meredith Cox Asset Manager
Michelle Horne Senior Construction Manager
Harvesting Connections
Held annually in the fall, Harvesting Connections is a collaborative forum nourishing women-driven relationships in the construction and real estate development industries. The 7th Annual Harvesting Connections, hosted in partnership with Crescent Communities, Gensler, Turner Construction, Asana Partners, and Troutman Pepper, was called “Seasons of Life: Blending a Team of Generations.” This was led by Jessica Hall who discussed nonlinear career timelines, navigating various stages of life, and how to provide support to others. Participants raised funds for this year’s nonprofit spotlight, Junior Achievement, and made connections with other women in similar fields.
Women’s Group
In the Spring of 2024, Crescent Communities women were surveyed about opportunities for support. Overwhelmingly, the top two areas of focus were women’s health issues and work/life harmony. Based on the feedback, the Women’s Steering Committee, a dedicated group of volunteers across the company, was formed to bridge the gap and provide the necessary support and resources. The Steering Committee offered two lunch and learn sessions focused on perimenopause and menopause led by Novant Health. These highly attended sessions played a key role in breaking the stigma surrounding these topics, while fostering understanding, having fruitful conversations, and strengthening internal support.
Workforce Composition
We are dedicated to cultivating a more inclusive work environment because we believe that better business decisions arise when all voices are heard and valued. While progress has been made, we recognize that there is still much work ahead. This is a long-term commitment, however we are invested in dedicating the necessary time and energy to create opportunities for everyone — both within our company and across the real estate industry. We remain committed to transparency and will continue to share our progress.
DIRECTOR LEVEL & HIGHER BY ETHNICITY TOTAL HEADCOUNT BY ETHNICITY
GENDER
CULTURE
The Crescent Communities culture is one of transparency, regular engagement, ongoing learning and growth, and promoting the well-being of the whole person. To that end, Crescent Communities has implemented policies around Summer Fridays, flexible PTO, wellness reimbursements, parental leave, and mental health informational sessions. Each year, we host open forum town halls and implement engagement and feedback mechanisms to promote transparency and foster a culture of openness.
NAIOP’s Developer of the Year
Crescent Communities was selected as the Commercial Real Estate Development Association’s (NAIOP) 2024 Developer of the Year, the association’s highest honor. Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation in the commercial real estate industry.
The Crescent Communities mission of creating sustainable, transformative communities has guided our success and led us to this tremendous achievement.
“In an industry often driven by short-term gains, Crescent Communities stands apart by prioritizing long-term sustainability and community well-being,” said Commercial President Brendan Pierce.
This award is an honor and a testament to the hard work, dedication, and strategic vision of our incredible colleagues and partners. Our team has created exceptional and authentic communities that exemplify our mission to Build Community and Better People’s lives.
Community Partnerships
Crescent Communities supports community initiatives that align with our three thoughtfully identified focus areas: Education, Environment, and Shelter & Services.
SUPPORT FOR AFFORDABLE HOUSING
Housing affordability remains a growing challenge in all markets where Crescent Communities operates. In response, Crescent Communities not only supports impactful nonprofits but also takes direct action by developing affordable housing and preserving naturally occurring affordable housing (NOAH). Through a $1.5 million commitment to the Housing Impact Fund—managed by Ascent Housing—Crescent Communities is helping preserve and improve NOAH in Mecklenburg County. To date, the fund has secured over 1,400 residences, with an additional 418 expected by mid-2025. In December 2023, Crescent Communities invested in Springhouse Square, a mixed-income senior living community in Charlotte developed by Laurel Street Residential. The project, which officially closed in February 2024, will offer both market-rate and affordable housing for seniors and is located next to a masterplanned continuing care retirement community—helping meet a critical need for senior housing in the region.
Crescent Communities CARES
Through the Crescent Communities CARES volunteer and charitable giving program, we cultivate a culture of passionate engagement, and we tackle difficult issues such as affordable housing, chronic homelessness, educational disparity, and the climate crisis. As part of our mission to Build Communities and Better People’s Lives, Crescent Communities is a committed member of the Charlotte Executive Leadership Council (CELC). This council unites CEOs and business leaders from the Charlotte area’s leading businesses and colleges/universities to advocate for impactful solutions to strengthen our community and share their perspectives on the issues and opportunities facing Charlotte. By participating in the CELC, we can work with other organizations who share our mission and values to improve Charlotte’s economic vitality, equitable opportunity, and quality of life for all through membership in the Healthy Communities, Education, and Workforce Development working groups.
To further reinforce our mission, Crescent Communities supports the spirit of giving among colleagues. Recognizing the important work that nonprofit organizations do to uplift our community, Crescent Communities offers a financial match of up to $500 per colleague annually to qualified charitable organizations.
EDUCATION
EVENT SPOTLIGHT Greenhouse Scholars
A new partnership for Crescent Communities in 2024, Greenhouse Scholars provides holistic support of lowincome, high-performing young people through the resources their community offers. Colleagues evaluated student applications from North Carolina and Georgia, providing recommendations for participation in the Greenhouse Scholars program. The experience had a profound
890+ volunteer hours contributed by Crescent Communities colleagues
11 nonprofit boards served by team members
24 community volunteer opportunities offered across various markets
In addition to our robust philanthropy and charitable match programs, Crescent Communities also offers financial support to qualified nonprofit organizations for which a colleague serves on a governing board. Colleagues are encouraged to actively engage with the community and support nonprofit organizations they are passionate about.
impact on the team, deepening their understanding of Greenhouse Scholars and the students it supports. Our President of Multifamily, Jay Curran, joined the Greenhouse Scholars Board to further contribute to the organization’s mission.
VOLUNTEER
COMMUNITY SERVICE IMPACT: 2024 HIGHLIGHTS
ENVIRONMENT VOLUNTEER EVENT SPOTLIGHT
Construction Team Build Day
In the fall, the Crescent Communities Construction team built eight benches in partnership with She Built This City in Davidson, NC. The benches were donated to the Davidson Lands Conservancy and placed at Fisher Farm Park to support the NOVEL Davidson development community. The Ada Jenkins Center heard about the build event and offered to host due to the ongoing partnership with the NOVEL Davidson team. The Ada Jenkins Center offers a broad range of resources to support the economic stability of Lake Norman residents. Our construction team has cultivated a relationship with the center, contributing to facility updates alongside our trade partner, Johnson’s Modern Electric Company.
SHELTER & SERVICES VOLUNTEER EVENT SPOTLIGHT
Multifamily Developers Build
Charlotte-area multifamily developers and partners joined forces to fund and build a home in partnership with Habitat for Humanity of the Charlotte Region. Organized by Crescent Communities and led by our Senior Managing Director Michael Tubridy, this event was the fifth Multifamily Developers Build. The Crescent team began construction in June, raising the walls of the home, and completed the project in December. Habitat for Humanity has long been a valued partner of Crescent Communities, with our Chairman & CEO, Brian Natwick, having previously served on the Board. Currently, Drew Thompson, Finance Associate, serves on the Habitat Young Professionals Board.
Hurricane Relief Efforts
In response to the devastating impact of Hurricane Helene on western North Carolina and parts of Georgia and Florida, Crescent Communities contributed $15,000 across several funds, including the Asheville Chamber of Commerce Community Betterment Foundation — Mountain Strong Fund, the Community Foundation of Western Carolina, the United Way of North Carolina — UWHelpsNC Helene Recovery Fund, the Red Cross of North Carolina — Hurricane Helene Red Cross Response, and the Central Carolina Community Foundation — One SC Fund, donated 20 laptops to individuals in need, and focused $5,000 of support to hyper-local organizations Henderson County Heroes and the Food for Fairview Food Pantry, responding to requests from colleagues based in the affected areas. The Charlotte office collected supplies and volunteers joined Operation Airdrop’s outreach efforts and the end of year partner gifts were purchased from Asheville, NC-based Marble and Steel Chocolates and watercolor artist Casi Gail to help promote local businesses and support ongoing hurricane relief efforts.
THE ROC CHARLOTTE
Inaugural Happy Givemore Invitational
In April, Crescent Communities hosted the Inaugural Happy Givemore Invitational. This fun-filled golf event, held at TCP Piper Glen, raised $100,000 for The ROC Charlotte, going directly to fund its transformational educational and vocational programming. The event included a full day of golf with more than 100 participants from multiple industries. Regroup and Moore & Van Allen were the event’s Platinum sponsors. Other event sponsors included: Choate Construction, Dwell Design Studio, EM Structural, Finfrock, Fortune Johnson, Gilbane, Jordan & Skala Engineers, Troutman Pepper, and Whiting Turner.
Crescent Communities is a proud supporter of The ROC Charlotte, a nonprofit organization with a mission to educate and mentor high school students for technical roles and career opportunities in the construction industry via partnership with Central Piedmont Community College. This program has connected Crescent Communities with exemplary students who have been welcomed as full time or Summer Associate hires. Daniel Cooper, President of Construction, serves on the Board of Directors and continues to provide leadership and ongoing partnership opportunities.
Supporting our Community
We are proud to have supported the following organizations through time, talent, funding, or Board service in 2024:
ORGANIZATIONS THAT INCLUDE BOARD SERVICE
4Governance & Ethical Leadership
In July 2018, Crescent Communities became an independently operated investment management affiliate of Sumitomo Forestry of America, Inc. Through our integrated services of development, construction, property operations, and investment management, Crescent Communities strives to deliver strong investment performance through the cycles, capture market opportunities with innovative products, and continue our research-driven investment approach executed by locally based teams.
We provide our investors with opportunities to meet their real estate investment objectives, mindful of our obligations to accountability, transparency, and trust. We also aim to provide healthy and productive spaces, develop and operate assets in a manner consistent with Crescent Communities’ tradition of responsible corporate citizenship, and oversee the management of buildings to maximize resource efficiency and environmental sustainability.
Crescent Communities adheres to governance practices that will ensure our investors’ ongoing confidence and thoughtful risk management. This involves a continual review of how legislation, guidelines, and best practices should be embodied in our approach. Representing the company, the Chairman & CEO actively participates in the National Association of Corporate Directors, an organization dedicated to identifying and fostering best practices in governance.
Crescent Communities is governed by a seven-person board which includes representatives of Sumitomo Forestry and Crescent Communities. Sumitomo Forestry of America has one representative director and a small financial and operations oversight team based at Crescent’s Charlotte headquarters. Operating authority is delegated by our Board of Directors via a clearly delineated delegation of authority policy.
Business Ethics
Our governance policies include our Crescent Code of Business Ethics. The Code of Business Ethics sets forth principles that employees must follow. It describes ethical risks for colleagues, provides guidance on how to recognize and deal with ethical issues, and explains how to report what is believed to be unethical conduct. The Code is intended to foster a culture of integrity, compliance, respect, and accountability.
This Code applies to all colleagues of Crescent Communities, its subsidiaries, and its affiliates, and requires annual certification by each colleague. The Code is managed by our internal Director of Risk Management and Internal Audit. We maintain a whistle-blower hotline, EthicsLine, provided by InTouch, and we take measures to ensure that every colleague is aware of the existence and purpose of the hotline.
Auditing
Crescent Communities engages an independent, nationally recognized audit firm to perform an annual audit of the organization and to ensure our financial statements and operations are presented accurately and in accordance with generally accepted accounting principles of the United States. The Company’s auditors have certified that our financial reporting accurately reflects the financial position of Crescent Communities and its subsidiaries.
Risk Management
Crescent Communities has developed standards and processes for risk management across our various disciplines and product types. Our Director of Risk Management works with our insurance brokers and risk consultants to maintain proper insurance coverages for the company and our assets, as well as insurance requirements for our contractors and service professionals. Our external legal teams are also key partners in mitigating risk.
Data Security, Privacy, and Continuity
Data security, privacy, and business continuity are top priorities at Crescent Communities. We use both internal and external resources to help minimize cyber threats. We continually audit and test our systems, our infrastructure, and our organization to ensure we are working to effectively stop cyber threats before they happen. Crescent Communities also takes privacy very seriously and we work diligently to safeguard all personal data.
Resiliency
Our culture of resilience is demonstrated by our approach to community development and our overall business strategy. To create communities that remain relevant and prosperous over time, we balance our vision and values with our flexibility to adapt. Focusing on a foundation of resiliency allows us to seed communities that will sustain and continue to thrive long after our involvement ends. The cultivation of diverse yet synergistic lines of business support a strategy that is both robust and resilient, yielding consistent results.
