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Crescent Communities buys land for 248-unit rental in North Phoenix
The 8.5-acre development will start construction in July 2026, with first move-ins targeted for Spring 2028.
Crescent Communities has closed on a parcel of land for NOVEL Norterra, a new four-story multifamily community planned in northern Phoenix, Arizona, according to ConnectCRE.
The project will be built on an 8.5-acre site east of I-17 in the Norterra neighborhood, and will deliver 248 for-rent residences near the TSMC Arizona semiconductor manufacturing complex, along with nearby retail and outdoor destinations.
Construction is scheduled to begin in July 2026, with first move-ins anticipated in Spring 2028.
Planned amenities include a clubhouse, a pool courtyard featuring a 1,822-square-foot pool and spa, a fully shaded pickleball court, and a dog park, plus additional outdoor cooking, dining, gathering areas, and landscaped spaces.