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Crescent Communities Launches Company-Wide Stewardship Initiative

CHARLOTTE, N.C., Dec. 4, 2015 (GLOBE NEWSWIRE) -- Crescent Communities has launched a company-wide stewardship initiative, demonstrating its commitment to doing business the right way. The comprehensive program, Crescent's first, reaches beyond typical, expected or environmental sustainability by breaking down its focus into five pillars:

  • Environment
  • Community
  • Health
  • Happiness
  • Longevity

"This initiative is years in the making, and we are excited to have a solid program in place that will guide our future efforts," said Jenny Vallimont, director of stewardship and innovation at Crescent. "Over the past couple of years, corporate social responsibility has become an important component to assess a company's strength and is essential to building trust with employees, consumers and investors. For Crescent, stewardship isn't an option – it's a requirement."

While each of these is important to day-to-day business, the company takes special pride in community focus as it relates directly to its organizational vision to "Build Community, Better People's Lives." Crescent has highlighted its stewardship program in its 2015 Statement of Stewardship.

"We take great pride in our stewardship efforts, and we are passionate about driving the conversation around what we believe is an important topic," said Todd Mansfield, CEO at Crescent. "Our hope is to not only facilitate discussion, but to continue evaluating our own efforts to act as stewards of our planet, people and our communities. By creating this report, we are creating something we can measure our performance against and be transparent with the public about how we are stacking up."

Crescent recently expounded upon corporate social responsibility (CSR) in a new "green" paper that is meant to generate dialogue. The green paper, titled "The True Value of Sustainability," examines how CSR impacts customers, corporations, and investors in commercial real estate, and the intersection of the three. While a good bit of research has been presented on all three topics individually, Crescent saw a lack of discussion around the impact all three have together.

The in-depth analysis provides statistics around CSR and examines why it's important for companies to adopt social responsibility strategies. The research shows the increase in total investments in socially responsible platforms from 1995 to 2012 rose from $500 billion to more than $3.7 trillion. This demonstrates significant and lasting belief in these types of investment vehicles.

The paper also touches on how growing consumer preferences for CSR are starting to impact real estate decisions. A 2014 study by McGraw Hill Construction projected a 300 percent growth in the "green" building market from $38 billion in 2013 to $105 billion in 2016.

As part of the stewardship program focused on community, Crescent launched its inaugural Crescent Cares day in early October. As a company, all offices were asked to spend the day supporting their local community by volunteering with local charities and organizations, including Habitat for Humanity, the Palmetto Bluff Conservancy, Open My World Therapy, and Oakland Nature Preserve.

To view the CSR green paper and learn more about Crescent's stewardship initiatives, visit their website.

About Crescent Communities

Crescent Communities, LLC is a leading real estate investment and operating firm creating long-term value by developing thoughtful, sustainable communities that improve people's lives. Founded in 1963, Crescent's original mandate as a land management company continues to inform its commitment to the wise stewardship of natural resources. The company finances, plans and develops residential, multifamily, mixed-used and commercial properties and land assets, valued in total at $1.2 billion. Crescent is recognized for its innovative approach to development, robust capital deployment, seasoned leadership team, and proven model of sustainability.

CONTACT: Tony Wilbert, The Wilbert Group 404-254-1487 twilbert@thewilbertgroup.com Hadley Creekmuir 404-343-4080 hcreekmuir@thewilbertgroup.com

Source: Crescent Communities