I occasionally get asked who the developers were behind communities like The Point and The Peninsula, with many people assuming that a “man with a vision” must be responsible. While that would make for a great success or legacy story, unfortunately, that’s not the case.

When Duke Power finished the Cowans Ford Dam and Lake Norman reached full pond in 1963, the company accomplished something far greater than simply creating a reservoir- it created a billion-dollar real estate behemoth. What began as a project to generate hydroelectric power quickly evolved into one of the largest and most influential land developments in the Southeast.

As Lake Norman filled, Duke Power suddenly owned more than 32,000 acres of shoreline and adjacent property that had been purchased for the lake’s construction and environmental buffers. Rather than selling the land piecemeal, Duke took a longer-term view. In 1963, the same year Lake Norman reached full pond, Duke created Crescent Land and Timber Company to manage, plan, and eventually develop these surplus holdings responsibly.

The name “Crescent” reflected Duke’s network of crescent-shaped lakes along the Catawba River, including Lakes James, Rhodhiss, Norman, and Wylie. In its earliest years, the company’s focus was primarily timber management and land stewardship, ensuring that Duke’s non-utility property was preserved and maintained. But it didn’t take long to recognize the potential for something more.

Interstate 77 didn’t fully open through the Lake Norman area until the late 1960s, which finally made the lake more accessible for Charlotteans (I think thats the correct term?). What had once been a quiet expanse of wooded shoreline and stump-filled coves quickly became the perfect setting for master-planned communities.

Crescent began developing select properties with a vision that balanced environmental preservation, recreation, and luxury living. Neighborhoods such as The Peninsula, The Point, Northview Harbour, Sailview, and others are all Crescent Communities. Each was carefully designed to take advantage of Lake Norman’s natural contours, deep water, and main-channel views, while maintaining water quality and responsible shoreline management.

In 1987, the company changed its name to Crescent Resources, LLC, reflecting its evolution from landholder to full-scale developer. Under this new name, Crescent became one of the Southeast’s most respected names in community planning, extending its reach beyond Lake Norman into Georgia, Florida, and Texas.

In 2006, Duke Energy sold Crescent to Morgan Stanley (bet you didn’t know that).

Today, the company operates as Crescent Communities and continues to develop residential, commercial, and mixed-use projects nationwide. Big master-planned communities are one thing but Duke also had a lot of individual waterfront lots to sell. And believe it or not, those early lots weren’t easy to move at first… even though by today’s standards, they were practically giving them away.

Crescent’s latest project is the River District in Charlotte, located along the Catawba River and designed as one of the most ambitious mixed-use developments in the Carolinas. Once complete, the River District will include approximately 2,300 single-family homes and 2,350 multifamily residences, along with 8 million square feet of office space, 500,000 square feet of retail, and more than 1,000 hotel rooms. The plan also includes 200 assisted-living residences, 75 acres dedicated to civic use, and 550 acres of open space (impressive), all intentionally designed so residents are within a five-minute walk to parks, green space, or trail systems.

With more than 30 miles of trails, riverfront access, dog parks, and outdoor recreation woven throughout the community, the River District is built for people who want to spend as much time outside as possible. One of its most unique features is a working two-acre sustainable farm, complete with an orchard and an on-site farmer, along with farm-to-table dining and other amenities planned throughout the district.