ENVIRONMENTAL PRESERVE COMMUNITY POSTS STRONG 2010 REAL ESTATE SALES

ENVIRONMENTAL PRESERVE COMMUNITY POSTS STRONG 2010 REAL ESTATE SALES

Bluffton, S.C. – February 1, 2011 – (RealEstateRama) — A strong finish to the year boosted closed and pending real estate sales at Palmetto Bluff to $44.5 million, a 42 percent increase over 2009 sales of $26.3 million. The 20,000-acre environmental preserve and residential community in South Carolina’s Lowcountry had a particularly strong fourth quarter with $14.3 million in sales, more than half of its total sales in 2009.

“The market continues to endorse Palmetto Bluff as a unique and highly desirable place to live,” said James (Jay) Page, vice president of Palmetto Bluff’s developer, Crescent Resources. “Even in the roughest stretches of our recent economic situation, buyers continued to embrace what Palmetto Bluff offers. With robust sales accelerating at the conclusion of 2010, we enter 2011 with high expectations.”

In addition to the strong real estate sales, custom home building is also on the rise at Palmetto Bluff. Homesite owners must submit plans to an architectural review committee prior to commencing construction. At the end of 2010, there were 199 homes either finished or under construction, and an additional 34 home plans in the architectural review process.

Travel + Leisure named Palmetto Bluff the top hotel spa and the number two resort in the continental U.S. and Canada in its World’s Best Awards in 2010. The hotel ranked first in Travel + Leisure’s Best Service Awards. The community has continued to attract the attention of the media and celebrities into the start of 2011. Earlier in January, Universal Furniture and culinary personality Paula Deen unveiled her home furnishings collection, “Down Home,” at Palmetto Bluff. Last week, Garden & Gun hosted a reforestation educational weekend with more than 80 participants planting 2,000 longleaf pine seedlings within the community.

About Palmetto Bluff
Developed by Crescent Resources, LLC, Palmetto Bluff has been called one of the last land treasures on the east coast. The community is defined by three historic rivers – the May River, the Cooper River and the New River – making it a true sea island. Located between Savannah, Ga. and Hilton Head Island, S.C. in the Carolina Lowcountry, the community offers residents a wide array of recreational amenities including a Jack Nicklaus Signature golf course, an Inn and Spa managed by Auberge Resorts, boating, fishing, tennis courts, croquet lawns, and a state-of-the-art equestrian facility. The Village, neighborhoods and amenities are linked by a series of historic roads, paths and an innovative network of freshwater trails allowing residents to reach their destinations by bicycle, foot, boat, golf cart or car.

About Crescent Resources
Crescent Resources’ single-family and resort residential communities are widely recognized for their innovative land plans. While each is unique, the commitment to high-quality development is recognizable. In addition to Palmetto Bluff, Crescent’s other communities are The Point, Springfield, the Sanctuary and The Farms near Charlotte; Rough Hollow near Austin in Lakeway, Texas; and, The River Club in the Atlanta area. Crescent communities can also be found at Lake James near Morganton, N.C., and in South Carolina at Lake Keowee near Clemson.

Crescent Resources is a real estate development company with interests throughout the southeastern United States. Based in Charlotte and established in 1969, Crescent Resources is known for its single-family, multifamily and resort residential communities. Crescent also owns and manages business and industrial parks and shopping centers. Visit www.crescent-resources.com for more information.

Contact:
Kathryn Blanchard

704.376.3434

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