Crescent Hires Tommy Tucker as Vice President to Lead Residential Development Plans in Austin

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    Client News

  • Date:

    April 08, 2014

Crescent Hires Tommy Tucker as Vice President to Lead Residential Development Plans in Austin

Client News

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Crescent Communities has hired real estate development veteran Tommy Tucker as vice president to lead the company’s residential initiatives for Austin, Texas. This move positions Crescent to meet the region’s growing demand for new homes and the lifestyle offered by thoughtfully designed master-planned communities.

“There is an immediate and anticipated long-term need for new housing in Austin, and we are looking for new opportunities to build communities that are designed for the way people live today and can grow as the region grows,” said Steve Yetts, senior vice president of Crescent Texas Communities. “Tommy’s vast experience, in-depth market knowledge and analytical approach will be tremendous assets as we continue development of our three active Austin properties and seek strategic new projects.”

Crescent’s most notable properties in Austin are Rough Hollow on Lake Travis and Belterra in Dripping Springs. At Rough Hollow, residents enjoy 1,800 acres of hilltop views and lakeside living with access to the swim and tennis club, boat slips and neighborhood parks. Last fall the company acquired Belterra, a 12-year-old community on 1,600 acres just minutes south of downtown Austin with resort-style amenities including hiking trails, parks and community pool. In addition, Crescent recently announced plans for a 500-acre community in Leander, 27 miles north-northwest of Austin.  

“I am excited to join the Crescent Communities development team in its expansion in the rapidly growing Austin market,” said Tucker, a Texas native with more than 20 years of experience in real estate development and related fields. “Crescent Communities is an innovator in developing master planned communities and I look forward to collaborating with the Crescent team in creating dynamic communities that better peoples’ lives.”

Tucker served as vice president of Catellus Development, overseeing residential and retail development for the award-winning, 700-acre urban project Mueller, which is a public-private partnership for the Mueller Airport Redevelopment. Previously, he served as president of Sanctuary Development, a real estate development and consulting firm, and president and general counsel for Waterstone Development Group, where he was responsible for the management of $150,000,000 in real estate assets in Central Texas.

Tucker’s portfolio includes master-planned communities, mixed-use neighborhoods, commercial initiatives and non-profit real estate development predominantly in the Austin, Texas, area including Avery Ranch, The Shops at Avery Ranch, Somerset Hills, River Chase and Vintage Plaza at La Frontera.

He began his career as associate and partner in private practice law firms handling commercial, real estate, employment and general business matters. Tucker holds a bachelor’s degree in business administration with a concentration in real estate and finance from the University of Texas. He earned his juris doctorate with honors from the University of Houston Law Center.

“We’re looking forward to Tommy’s leadership as he sets Crescent’s Austin growth strategy and further affirms our commitment to this dynamic marketplace,” Yetts said.

About Crescent
Founded in 1969 in Charlotte, Crescent Communities is a diversified real estate investment, development and operating company dedicated to enhancing the quality of life for people through sustainable multifamily, residential and commercial communities and responsible land management. Crescent’s portfolio today includes 21 master-planned communities, including its signature Palmetto Bluff, as well as 22 multifamily projects with 6,500 units under construction/lease-up or in planning/pre-development. The company’s land management group owns and manages approximately 43,600 acres, including 611 acres zoned for commercial.

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