The developers behind the 90-acre mixed-use Waverly project in south Charlotte have purchased 8.5 acres adjacent to Crescent Communities’ under-construction residential development.
Crescent had 38 acres at Providence Road across from Golf Links Drive rezoned in October 2015 for the 72-acre community of hundreds of apartments, single-family homes and townhomes, as well as a hotel and up to 30,000 square feet of commercial space.
The Waverly developers will develop the hotel and commercial space in a mix of single-tenant and multitenant retail buildings on the east side of Providence Road in the as-yet unnamed project. Waverly is being developed on adjacent land to the south on Providence Road at Ardrey Kell Road by a joint venture between Charlotte-based Crosland Southeast, Childress Klein, and the Matthews family, which owned the land.
“We appreciate the opportunity to partner with Crescent Communities and look forward to delivering a hotel and mix of retailers that will complement both the Crescent Providence Farm and Waverly communities,” said Chris Thomas, a partner at Childress Klein, in a news release.
Crescent started construction this summer on the 404-unit Crescent Providence Farm apartment community and is planning to develop single-family homes and townhomes on the site.
“Crescent Communities is happy to welcome the Childress Klein and Crosland Southeast team to the Crescent Providence Farm development,” Michael Tubridy, Crescent’s regional director, Carolinas, said in the release. “The commercial and retail component that Childress Klein and Crosland plan to develop will continue to enhance the already outstanding mix of walkable retail and restaurant offerings for future residents at Crescent Providence Farm.”
Waverly will include 250,000 square feet of retail space anchored by a Whole Foods Market scheduled to open in spring, two six-story Class-A office buildings, 375 upscale apartments called Solis Waverly and about 150 single-family homes and townhomes by David Weekley Homes. Apartments and homes are now ready, and retailers at Waverly will begin opening this fall.
The 8.5-acre site will be accessible via a newly signalized intersection at Golf Links Drive and Providence Road, part of $6 million in road and infrastructure improvements that the Waverly joint venture is funding to in order to create connectivity and ease of access in the development.
On the west side of Providence Road at Golf Links Drive, Lincoln Harris is developing the 194-acre Rea Farms project, which will consist of 455 apartments, a single-family neighborhood, up to 650,000 square feet of office space and retail space, and a public school.