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Crescent names residential division president

Following a national search, Andrew Carmody has been hired as president of Crescent Resources’ residential division, Crescent said this week.

Crescent, a developer, said Carmody will start his new job Monday.

Carmody’s most recent job was with Palm Beach Gardens, Fla.-based Kitson & Partners, a residential and commercial real estate investment and development company for which he oversaw investment strategies, new business development, acquisitions and early stage investment management.

According to Crescent, Carmody will be responsible for the division’s performance and growth. In addition to managing the company’s residential assets, he will oversee the identification and closing of new residential acquisitions, “a major strategic priority for the company,” Crescent said.

Carmody has also worked for Centex Homes and McKinsey & Co. and has a master’s of business administration from Harvard’s business school,
according to Crescent.

In 2009 Crescent filed for Chapter 11 protection in Austin, Texas, emerging from Ch. 11 protection a year and a half later.

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