---
title: "Crescent Communities closes on land for NOVEL Norterra multifamily project in Phoenix"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293359654.md"
description: "Crescent Communities has closed on an 8.5-acre site in northern Phoenix for NOVEL Norterra, a planned 248-unit multifamily rental project. Construction is scheduled to begin in July 2026, with move-ins expected by spring 2028. The four-story development is located near I-17 and involves partners including NEC Capital Solutions, Sumitomo Mitsui Trust Panasonic Finance, UMB Financial, and other Japanese investors."
datetime: "2026-07-21T14:58:55.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293359654.md)
  - [en](https://longbridge.com/en/news/293359654.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293359654.md)
generator: "portal-rs"
---

# Crescent Communities closes on land for NOVEL Norterra multifamily project in Phoenix

-   Crescent Communities closed on land for NOVEL Norterra, an 8.5-acre multifamily development site in northern Phoenix. \* Project planned as a four-story, 248-unit for-rent community; construction set to start in July 2026. \* First move-ins expected in spring 2028; development sits near I-17 in the Norterra neighborhood. \* Partners include NEC Capital Solutions, Sumitomo Mitsui Trust Panasonic Finance, additional Japanese investment, UMB Financial. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Crescent Communities LLC published the original content used to generate this news brief on July 21, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here

### Related Stocks

- [8793.JP](https://longbridge.com/en/quote/8793.JP.md)
- [UMBF.US](https://longbridge.com/en/quote/UMBF.US.md)
- [6752.JP](https://longbridge.com/en/quote/6752.JP.md)
- [PCRHY.US](https://longbridge.com/en/quote/PCRHY.US.md)

## Related News & Research

- [UMB Financial CFO Ram Shankar sells 2,000 shares for $303,220](https://longbridge.com/en/news/296264852.md)
- [Weekly Recap: Panasonic Holdings (6752) iPS device and LUMIX L10 launch](https://longbridge.com/en/news/296151024.md)
- [Catella, Nordkranen swap Herlev GreenPoint residential asset for Retortvej Valby development site with Ikano Bolig](https://longbridge.com/en/news/296438074.md)
- [Titania buys Haninge small-home project with 10,500 sq m gross floor area](https://longbridge.com/en/news/296062052.md)
- [CoreLogic: US single-family rents rise 1.5% y/y in June 2026](https://longbridge.com/en/news/296487538.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**