FeaturesSlideshow

The Crescent Residences: A peek at one of Fort Worth’s most expensive apartment complexes

By Rebecca ChristophersonAugust 1, 2024No Comments

What’s behind the door of some of Fort Worth’s most expensive apartments? A peek at The Crescent Residences

By Scott Nishimura
Photos courtesy of Faulkner Design Group

It’s no secret that apartment rents in Fort Worth have been strong for years. One of the city’s highest rents has been available for lease since late January: The 168 luxury apartments at The Crescent Residences, connected to The Crescent Hotel, Fort Worth and part of the same development.

Luxury, for certain, takes up a small universe in Fort Worth multifamily developments. The Crescent’s apartments are renting for $4 per square foot on average, said Matthew Knowles, director of the multifamily high-rise division for FirstService Residential, The Crescent Residences’ manager for the developer, Crescent Real Estate. Crescent’s penthouses are at the high end of the range, with a 1,990-square-foot unit renting for $9,850 per month or $4.95 per square foot. That makes The Crescent Residences among Fort Worth’s most expensive apartments; the most expensive units in the new Deco development downtown rent at more than $5 per square foot.

What does the Crescent rent get you? A highly unusual Westside apartment with the amenities of a luxury hotel, surrounded by walkable attractions, restaurants and shops in Fort Worth’s Cultural District. “The feel is luxury hotel,” Knowles said.

The Crescent Residences are connected by interior corridors to the hotel, its restaurants and meeting spaces and Crescent’s Canyon Ranch Wellness Club. The two-phase multifamily development includes 168 apartments in two phases — 110 in the first phase, all complete, and 58 in the second phase, mostly complete and nearing their finish.

Floor plans for the apartments range between a 723-square-foot one-bedroom, one-bath unit to a 2,259-square-foot three-bedroom, three-bath unit.

Who lives in The Crescent? “High net worth, empty nesters, people who are looking to downsize,” Knowles said. “We see a lot of residents who have multiple homes, residents who have children going to TCU.”

The apartments have imported finishes, Bosch appliances, gas ranges, engineered hardwood floors, features such as soft-close cabinet drawers and some shower-tub combinations. All have patios or balconies. The development includes five two-story townhomes with small fenced yards and direct access to the development’s garage.

Tenants have access to an apartments-only concierge who, among other things, can make dinner reservations, run out and get takeout food for in-room dining and secure preferred tickets at the museums and Dickies Arena, Knowles said.

The Crescent, in particular, works closely with nearby restaurants such as Don Artemio Mexican Heritage, Blue Sushi Sake Grill, Eddie V’s Prime Seafood, and Emilia’s and The Blue Room at Emilia’s at the hotel. “We have a really good relationship with our neighbors,” Knowles said.

Crescent has also recruited a concept by the Duro Group in Dallas, parent of The Charles fine dining restaurant. The concept is still under development, Knowles said. “That hasn’t been released yet,” he said. “It’s coming along. I think they’re going to try to hit the holidays.”

The Crescent Residences run weekly lifestyle programs for residents, including happy hours. Residents enjoy a reduced initiation fee to Canyon Ranch, which, like the Residences, is also connected to the hotel by interior corridors and elevator access.

Other amenities include a resident lounge, outdoor grills, fire pits, infinity pool and deck, cabanas, storage units and a covered dog park.

Fort Worth has a limited number of other new luxury multifamily units. “Fort Worth is underserved for luxury living in retail multifamily phases,” Knowles said.