Crescent Heights (company)

Chicago

In 2012, the company acquired land for Grant Park-area development in the Central Station neighborhood for $29.5 million.[15] NEMA Chicago is a 76-story residential tower on Grant Park designed by Rafael Viñoly that opened in 2019.[16][17] At the time of its completion, it was considered one of the tallest buildings in Chicago.[18] Architecture critic Blair Kamin of the Chicago Tribune described NEMA Chicago as "an instant landmark", drawing a comparison between its stepped form and that of the Willis Tower.[19] That same year, the project was refinanced with a $340 million loan, with additional refinancing activity reported in 2021.[3] NEMA Chicago received the 2021 Council on Tall Buildings and Urban Habitat Awards of Excellence for the Americas and for the 200–299 m height category.[20][21]

In June 2023, the company acquired the North Water Apartments for $173 million, reported as among the city's highest apartment price in nearly two years.[22]

In January-February 2024, the Chicago Plan Commission and City Council approved Crescent Heights' 53-story, 575 ft mixed-use tower at 420 N. May Street with 587 apartments and on-site affordability.[23]

In May 2024, Crescent Heights transferred the adjacent parcel at 1201 S. Michigan Ave. to its lender, ending plans for a second tower.[10][24]

At 640 West Washington Boulevard, the firm assembled a site and advanced plans for a 47-story, 413-unit apartment tower; the site purchase and related assembly occurred in 2020.[25][26]

San Francisco

NEMA San Francisco is a 754-unit, two-tower rental residence on Market Street.[27] In 2015, the property was refinanced with a $390 million loan.[28] NEMA San Francisco, designed by Handel Architects, has received LEED Silver certification.[29] In early 2024, the owner reached a loan modification agreement that included a $10.5 million payment, with continued ownership contingent on meeting revised terms.[12]

At 10 Van Ness (10 South Van Ness Avenue) in the Hub District, plans have included alternatives ranging from two 41-story towers with retail space to a taller single-tower option; the proposal has undergone multiple revisions over time.[30] Crescent Heights filed a 2024 redesign to 65 stories (~755 ft) with a revised mix of 952 units.[31]

Boston

NEMA Boston is a 22-story, 414-unit residential apartment complex at 399 Congress Street in the Seaport District built on a parcel of land purchased for $36 million in 2016.[32][33] The complex was subsequently sold to KKR in 2021 for $332 million.[34]

Los Angeles

At 1045 South Olive Street in Downtown Los Angeles, the city approved a 70-story, up to 794-unit mixed-use tower with a maximum height of roughly 810 feet.[35][36]

Ten Thousand, a 40-story, 283-unit tower at 10000 Santa Monica Boulevard designed by Handel Architects, achieved LEED Gold certification in 2018.[37][38]

In Koreatown, the company proposed a 34-story residential building with 297 units at 3100 Wilshire Boulevard, which incorporates preserved elements of a 1930s structure. The project remained entitled following the denial of an appeal in August 2024.[39][40]

The firm is also involved with the Hollywood Palladium preservation effort and a related plan for two approximately 30-story mixed-use buildings totaling 731 market-rate residential units and 24,000 square feet of retail on Sunset Boulevard.[41]

In Beverly Hills, Crescent Heights filed a Builder's Remedy proposal for a high-rise at 8844 Burton Way. Initially presented in early 2024 as a 20-story structure with about 200 apartments, the project was revised in 2025 to a 26-story design by Large Architecture.[42]

Orange County

In April 2025, Crescent Heights bought into the South Coast Metro submarket in Santa Ana in a transaction reported at approximately $240 million (about $686,000 per unit).[43]

Miami

In 2017, at 600 Alton Road in Miami Beach, the company started a project that included 500 residential units, 60,000 square feet of commercial space, and a three-acre public park.[44][45]

In Edgewater/Midtown Miami, Crescent Heights developed the 39-story Forma Miami (formerly NEMA Miami), totaling 588 rental units and more than 50,000 square feet of retail.[46] The project was capitalized with a $224 million construction loan in 2022;[46][47] topped off in 2023, and includes a Whole Foods Market that opened on June 26, 2025 at 2910 Biscayne Boulevard.[48][49] In October 2025, Walker & Dunlop arranged a $238.4 million agency refinancing for Forma Miami.[50]

Atlanta

In Buckhead, Crescent Heights started converting the high-rise at 2460 Peachtree Road (built 1984) from apartments to condominiums, rebranding the property as Panorama.[51]