May 3, 2016
About a decade after construction on the mixed-use Crescent Village began, the project is finally moving forward, much as its original investor, Arlie & Co., had intended. Work is wrapping up this month on the first 38 units of a 263-unit apartment complex north of the retail component’s commercial buildings, which, according to developer Century Management’s Robert Wood, had been planned a long time ago.
John Musumeci of Arlie & Co. had envisioned the property on and around Crescent Road to be a mixed-use “urban village,” complete with apartments, office and retail buildings. However, the recession forced Arlie & Co. to file for bankruptcy in 2010. Musumeci died in 2012, and his wife died in 2013.
But later that year, investors stepped in to buy most of the undeveloped land, and to complete Musumeci’s vision.