City Council has officially approved the rezoning request of a new waterfront project coming to University City on the east side of J.W. Clay Boulevard. Developer EB Arrow will build a 20.5-acre mixed-use walkable lakefront community called Waters Edge at University Place.
The first phase of development includes a five-story 182,000-square-foot office building with ground-floor retail; 308-unit garden-style NOVEL apartment community; 2.5 acre lakefront park featuring a children’s play area; and the refurbishment of the one-mile pedestrian trail circling the lake.
Future phases could include a hotel, more housing and more office space.
“This is an exciting opportunity to create a vibrant, walkable activity center in University City,” said Greg Wattson, EVP of Development at EB Arrow. “With the recent opening of Charlotte’s light-rail extension and the need for multifamily and office space in this submarket, the time is right to redevelop this property. We look forward to continued discussions with the city and with area leaders as we work to deliver a project that will truly benefit the neighborhood.”
Waters Edge is walking distance from J.W. Clay Boulevard Station on the Lynx Blue Line and the Barton Creek Greenway.
Interesting possibility: EB Arrow has talked about moving the University City Regional Library into the proposed office space, and if that move happens, the new library would be two stories with a lakefront patio and 2,500-square-foot cafe.
Timeline: Demolition will start early 2020.