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Crescent Resources, LLC is a leader in real estate markets throughout southeastern and southwestern United States, establishing a wide range of developments from commercial properties to award-winning residential communities.

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Crescent Resources Multifamily Development Group to Open Circle at Crosstown

New community brings innovative approach to apartment living in Tampa’s Brandon neighborhood

Tampa, Fla., March 4, 2009 … Crescent Resources Multifamily Development Group is opening its second apartment community under its new Circle concept in Tampa, Fla., this month. Leasing is under way. Circle at Crosstown will be Tampa’s first 100 percent smoke-free, multifamily community.

Circle at Crosstown embodies Crescent’s innovative approach to apartment living, offering residents the opportunity to live in upscale, environmentally friendly communities focused on enriching their social experiences. This community, and all Circle communities, will be 100 percent smoke-free to promote clean air in residential areas and throughout the common spaces. Circle communities will offer unique programming – from volunteering to pet happy hours – aimed at fostering a sense of community among residents.

“With Circle, Crescent is poised to meet the needs of today’s modern apartment residents by building a sense of community and doing something good for the environment,” said Richard A. Buck, regional vice president of Crescent Resources Multifamily Development Group. “Circle at Crosstown lets residents enjoy even more of the good life in Tampa.”

Circle at Crosstown is located in the Brandon area near Crosstown Expressway and Interstate 75. The community’s center of life, the clubhouse, employs many environmentally sensitive features in its design, including recycled construction materials. The metal roof repels more heat and helps to reduce the cooling load in summer. Low-emission paint helps to improve indoor air quality. And, many large oak trees have been saved to provide shade and natural beauty. Circle at Crosstown will have 300 units in one-, two- and three-bedroom designs.

The clubhouse features a poolside cabana with a bar, TVs, billiards, pingpong and tabletop shuffleboard. Visit Circle at Crosstown at 1820 Crosstown Club Place, Tampa, Fla., 33619.

Crescent opened Circle at Bartram Park, its first concept community, in Jacksonville last month. Other Circle communities are under development in Charlotte, N.C., and Concord, N.C.

About Circle
Circle was inspired through extensive review and analysis of current industry trends and marketplace needs. The progressive Circle communities will be places where neighbors connect and become stewards of the larger community. In addition to presenting a new breed of apartments that people are excited to live in, Circle developments will also be infused with the exceptional quality and customer-oriented features that have become Crescent hallmarks. Visit www.liveinthecircle.com for more information.

About Crescent Resources, LLC
Crescent Resources Multifamily Development Group is a division of Crescent Resources, LLC, a land management and real estate development company with interests in 10 states in the southeastern and southwestern United States. Based in Charlotte, Crescent Resources is a joint venture between Duke Energy and Morgan Stanley Real Estate Fund. Established in 1969, Crescent creates mixed-use developments, award-winning country club communities, single-family neighborhoods, apartment and condominium communities, Class A office space, business and industrial parks and shopping centers. Visit www.crescent-resources.com for more information.