Crescent Communities luxury developer to invest $433M in metro Phoenix

Article originally posted on Phoenix Business Journal on August 13, 2025

Crescent Communities, which has invested $377 million in multifamily development in metro Phoenix since 2007, has plans to double down on its activity in the Valley by investing another $433 million.

The Charlotte, North Carolina-based developer has been actively developing in the metro since 2012, opening a Phoenix office in 2020 when Ken Keefe joined the company.

Crescent has developed six luxury communities in the metro totaling 1,549 units and $377 million in development costs, said Keefe, who was just promoted to managing director in Arizona.

“Crescent Communities currently has five luxury multifamily communities and a retail project with total expected investment of $433 million under construction and in the predevelopment phase in metro Phoenix,” Keefe said.

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