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Crescent, Duke Energy's Real Estate Subidiary, Files Chapter 11

The Charlotte Observer reported that Duke Energy's developer of high end properties filed for Chapter 11 protection on Wednesday, June 10. Crescent, known for development of luxury waterfront communities, is making the move to reduce debt as it restructures. Duke owns a 49% share.

Local Crescent developments in the Charlotte area include:

Ballantyne Country Club

Falls Cove

The Farms

The Peninsula

The Point

Sail View

Chapel Cove (Lake Wylie)

The Sanctuary (Lake Wylie)

Springfield (Fort Mill, SC)

Crescent is known as a source of conservation land.

More about the area at www.homesinthepiedmont.com

Posted Thursday Jun 11