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PHOENIX — Crescent Communities has acquired land and begun construction of NOVEL Norterra, a four-story property on an 8.5-acre site in northern Phoenix. The 248-unit development is part of the 600-acre Norterra mixed-use neighborhood. Amenities include a clubhouse, 1,822-square-foot pool and hot tub area with cabanas and fire features, a pickleball court, dog park, outdoor cooking, dining and gathering areas as well as pedestrian pathways. Development partners include NEC Capital Solutions Limited, Sumitomo Mitsui Trust Panasonic Finance Co., additional Japanese investment and UMB Financial Corp. First move-ins are estimated to occur by spring 2028.