Circle at Concord Mills Certified as Audubon Signature Sanctuary

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Circle becomes first multifamily community in the country to receive Audubon International designation

Charlotte, N.C. – August 19, 2009 – (RealEstateRama) — Crescent Resources Multifamily Development Group’s Circle at Concord Mills is the first multifamily community in the country to be certified by Audubon International as an Audubon Signature Sanctuary.

The community, which opened in April as the first smoke-free community in the Charlotte region, is surrounded by 30 acres of preserved woods and wetlands. Circle at Concord Mills promotes healthy, fun living with easy access to the attractions around Concord Mills mall.

“This achievement underscores our commitment to the environment,” said Todd Farrell, presidentof Crescent Resources Multifamily Development Group. “We’re proud to partner with Audubon International and provide an eco-sensitive apartment community that our residents can enjoy.”

Audubon International’s Signature Program was created to recognize developments which choose to integrate sustainable design and property management, thus balancing the needs of people with the protection of the environment.

“The search for a more sustainable future must be more about action than mere words,” said Nancy E. Richardson, Signature Program director for Audubon International. “Through projects like Circle at Concord Mills and partners like Crescent Resources, we’re gladly redefining what it means to plan, build and manage our human landscapes. It is sustainable eco-design and development in action.”

Crescent Resources worked with sustainability consultants from Audubon Environmental on the design, construction and long-term management plan of Circle at Concord Mills. Audubon Environmental works with companies to achieve Audubon Signature Sanctuary certification, which helps landowners and developers achieve both economic and environmental objectives.

“Circle at Concord Mills demonstrates that by using sound design and construction principles, multifamily projects can be an example of environmental and economic success,” said Miles M. (Bud) Smart, Ph.D., president of Audubon Environmental.

Crescent Resources is also pursuing Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council for the clubhouse at Circle at Concord Mills. The clubhouse features low-energy doors and windows, low-emissions carpet and paint, native landscaping, water-efficient landscaping and recycled building materials.

Circle at Concord Mills embodies Crescent’s innovative approach to apartment living, giving residents the opportunity to live in upscale, environmentally friendly communities focused on enriching their social experiences. Circle communities offer unique programming – from volunteering to pet happy hours – aimed at fostering a sense of community among residents.

Circle at South End opened in May in Charlotte’s historic South End neighborhood. Two more Circle communities opened earlier this year in Jacksonville, Fla., and Tampa, Fla.

About Audubon International
Audubon International is a not-for-profit environmental education organization dedicated to educating, assisting, and inspiring millions of people from all walks of life to protect and sustain the land, water, wildlife and other natural resources around them. By helping people make sound environmental decisions and take environmentally responsible actions, Audubon International seeks to foster more sustainable human and natural communities. The organization works with more than 3,000 properties and communities in 27 different countries.

About Audubon Environmental
Audubon Environmental is a world leader in sustaining healthy native ecosystems and smart, efficient natural resource use. The firm’s scientists and sustainability experts work as partners with land owners and managers, developers and governments to protect and restore the natural environment within the context of plans for human use. Since 1995, Audubon Environmental has partnered with more than 200 projects throughout the United States and in countries worldwide. The firms work has been recognized with numerous third-party certifications, awards and accolades. For more information about Audubon Environmental, visit www.audubonenv.com.

About Circle
Circle was inspired through extensive review and analysis of current industry trends and marketplace needs. The progressive Circle communities are 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 are 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.

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