Greg Minder, Managing Director, Crescent Communities

July 2026 — Invest: sat down with Greg Minder, managing director of Crescent Communities, to discuss the forces shaping development across the region and how disciplined execution is guiding the firm’s long-term strategy. “Our priority is to remain best in class in every submarket where we operate. That starts with finding unique, well-positioned locations and delivering a product that residents genuinely want to live in,” Minder said.

What factors continue to make Tampa Bay a top market for Crescent Communities?

The continued growth is the biggest driver. We still see strong population momentum, even though it has tapered off a little from the peak. Job creation remains steady, and the region’s overall economic performance continues to be strong. Right now, we’re seeing more than 50,000 people a year moving to the Tampa Bay area. That’s more than 20,000 new households being formed every year, and to support that level of growth, the market needs a lot of housing across multiple product types, including single-family homes, townhomes, apartments, and condominiums. That ongoing demand is why Tampa continues to attract capital and development attention.

For Crescent Communities, Tampa Bay aligns with our long-term investment strategy because it offers both strong fundamentals and the opportunity to create places that enhance the way people live. We’re focused on delivering thoughtfully designed communities that respond to evolving resident needs, whether through our NOVEL multifamily brand or HARMON single-family build-to-rent communities. As the region grows, we believe there is a continued need for high-quality housing options that support residents at different stages of life.

What’s also changed is visibility. When I first started developing in Tampa years ago, there were times when national equity groups didn’t even know where the market was or how to think about neighborhoods within it. Now, many groups have been here recently or plan to be back soon. The market is firmly on the radar, and that creates opportunity, but it also increases competition and makes local knowledge even more important.

For Crescent, success starts with being deeply embedded in the markets where we invest. We have managing directors and local teams who understand how submarkets are evolving, where growth is occurring and what type of product fits best in a particular location. That local perspective, combined with a long-term stewardship mindset, helps us identify opportunities, create exceptional communities and invest in ways that support the region’s continued growth and success. 

Where are you seeing the strongest demand, and how are you prioritizing investment over the next few years?

We’re active in both suburban and urban environments, and for us it comes back to the best real estate offering in each setting. One trend that’s been negative, but that I believe will turn around, is the difficulty of making concrete-frame apartments financially tenable in markets like Tampa, Orlando, and Jacksonville.

There has been a lot of multifamily product delivered in Florida and across the country. Over the last year, many forecasts assumed absorption would outpace new supply, and rent growth would return. That has not materialized as quickly as people expected. We continue to see deliveries coming into the market, and broad rent growth is not really happening right now, outside of small pockets.

Crescent Communities’ approach focuses on locations and deal structures that set us up for delivery in 2027 and 2028. By the time those projects deliver, we expect demand to be high again, and supply to be tighter. We want to be ahead of the curve rather than chasing what is already saturated today.

How are you identifying and prioritizing areas for future development, including along the I-75 corridor?

The I-75 corridor has seen a tremendous amount of supply, and many communities are competing heavily on rent concessions. Communities are fighting over what they can offer in free rent or other incentives to win residents. That’s not a long-term strategy Crescent Communities relies on, because it erodes value.

We want to control risk by being in the right locations and offering a product that residents choose for reasons beyond a discount – including uniquely local design, top-notch amenities, and differentiated community programming. If the competition becomes a concessions game, the economics get weaker, and it becomes harder to justify new investment unless there is a true differentiator.

We’re currently exploring sites in the northern portion of the 1-75 corridor with that underlying philosophy. Great apartments are important, but great apartments in the right location with a true community feel is what creates durable demand.

How are you balancing urban infill projects with the need for attainable, well-amenitized communities?

For Crescent Communities’ NOVEL multifamily communities, we don’t look at it as either-or. The decision starts with the submarket fundamentals and the specific real estate type. In urban settings, walkability and access to employment centers, retail, and lifestyle become major value drivers. In suburban settings, connectivity, quality of life, and day-to-day convenience matter more, but the principle is the same.

In both cases, we want to be in locations where we can deliver a community that performs without needing to compete primarily on price. Attainability matters, but so does long-term value. If we focus only on being cheaper, we lose the ability to create the type of environment that retains residents and supports the long-term health of the asset.

How are renter expectations changing, and how does that influence your amenity strategy?

One of the biggest shifts is that residents increasingly value experience and community, not just physical features. Crescent Communities looks closely at whether an amenity truly adds value and resonates with the resident base.

For example, our Sunset Lounge at NOVEL Beach Park is a major differentiator that has driven leasing. Located on the community’s top floor, it offers sweeping views of Old Tampa Bay, Bayshore Blvd., and the skylines of Tampa, St. Petersburg and Clearwater, offering residents unparalleled, private views. While the corridor surrounding NOVEL Beach Park is filled with other luxury communities, our Sunset Lounge offers views that can’t be seen anywhere else – helping helping create a distinct sense of place and giving residents a memorable experience they can’t easily replicate elsewhere.

Additionally, a key focus for us is programming. We tailor events and experiences to the specific community. An urban property near the water will have a different lifestyle profile than a suburban property connected to trails and fitness. We incorporate events like dinners, wine tastings, wellness sessions, and partnerships with local vendors, but the point is that the programming matches the residents.

How are you thinking about long-term sustainability and resilience in a coastal, fast-growing region?

Sustainability and resilience are core to how we think about long-term stewardship. At Crescent Communities, that means considering not only the environmental impact of our developments, but also how they support wellness, connectivity and long-term community vitality. 

Walkability is a major component for us, in both urban and suburban environments. If residents can walk to retail and daily needs, it reduces car dependence and supports lifestyle preferences that many renters care about.

Materials and resiliency are equally important, particularly in Florida. We’ve had major storms in the Tampa Bay area, and insurance companies price wood-frame and concrete construction differently today. Concrete doesn’t automatically mean more sustainable, and it comes with cost challenges. Our goal is to create communities that are not only sustainable from an environmental standpoint, but also economically viable and resilient for residents, investors and the broader community. 

Looking ahead two to three years, what are your priorities for Crescent Communities in Tampa Bay?

Our priority is to remain best in class in every submarket where we operate. That starts with finding unique, well-positioned locations and delivering a product that residents genuinely want to live in. It also means maintaining a reputation with land sellers that when we enter a deal, we’re going to build it, and it’s going to be high quality.

A major focus will be continuing to grow NOVEL in Tampa Bay. NOVEL is about creating highly differentiated multifamily communities with a strong sense of place, thoughtful design, meaningful amenities and programming that reflects the lifestyle of the surrounding neighborhood.

We see opportunity to expand housing options through HARMON, our single-family build-to-rent platform. With existing communities throughout the Sunbelt, including HARMON Ashton Oaks in Wesley Chapel, HARMON provides the benefits of single-family living — more space, privacy and a neighborhood feel — with the convenience, flexibility and professional management of a rental community. In a fast-growing region like Tampa Bay, that can be an important complement to traditional multifamily housing.

On the capital side, we want to attract the best partners and deliver outcomes that compete favorably against other investment options. We don’t want to reinvent our approach – we want to continue building the NOVEL brand, growing thoughtfully through HARMON where it makes sense, attracting strong capital partners and delivering communities that support the region’s long-term growth.

Is there anything else you would like to add?

I’m excited to be here, and I know that can sound generic, but my perspective is shaped by time. I’ve been in Florida for a long time, and there was a point earlier in my life when I didn’t think Florida would offer the kind of opportunity I wanted. After spending decades in Tampa and Central Florida, I see a very different reality.

That’s one of the reasons I joined Crescent Communities last year. The company has a long-term approach to investing in high-growth markets, and Tampa Bay stood out as a place where those fundamentals align. Having spent much of my career in Florida, I was excited by the opportunity to join a platform that shares my confidence in the region and is committed to helping shape its future growth.

Tampa Bay has become a vibrant, diversified community with culture, restaurants, and a lifestyle that has expanded far beyond what many people expected. The region has matured, and that maturity shows up in the economy, the talent base, and the quality of life.

I’m also optimistic about the region’s connectivity and growth trajectory. Infrastructure and access matter. As Tampa continues to expand its reach and capacity, including through improvements in travel and broader connectivity, it reinforces the factors that have made the market so resilient and appealing. For us, that supports the long-term confidence to keep investing thoughtfully and to keep building communities that match where the region is going.