Crescent Communities has commenced preparations for the construction of a mixed-used project known as the Water Edge Project in Charlotte’s University City. This multi-phase development will be positioned at the intersection of J.W. Clay and W.T Harris boulevards and the Texas-based EB Arrow have begun preparations on the site. EB Arrow sectioned the land into several parcels and over the summer period, they focused on demolition and rough grading the area. The development team for the Waters Edge project will also consist of LandDesign, as the civil engineers and BB+M, serving as the interior designers. Other design partners include Cline Design Associates, Gensler, and KTYGY.
EB Arrow had acquired over 30 acres of the land in 2018 for the Water Edge Project; this land was subdivided for several developments which include Novel University Place, a public library, an office building, retail spaces, an organized parking area, and a multifamily piece. The development will take place in several phases.
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Phase I of the Water Edge Project in Charlotte’s University City
The first phase of the Water Edge Project will begin with the Novel University Place located at 8862 J.W. Clay Blvd. This development will consist of 311 studio and one-, two- or three-bedroom rooms for rent, with the first units to be delivered by early 2023. The Novel University complex will be designed to have four buildings and each of these buildings will average three to five floors and also include three extra carriage buildings with garages. Some basic amenities such as a cabana overlooking the lake, a resort-style pool, an outdoor fitness space, indoor and outdoor gathering areas, and a two-level fitness center. A dog park and pocket gardens will also be included in the development.
Future plans for the Water Edge Project also include the development of a five-story Class A office building named the Reflection. This office building will occupy 182,000 square feet of land and it will have ceilings rising as high as 10 feet, with a glass exterior design. The leasing of this office space will be handled by the Chicago-based JLL. The developers are also looking into improving walkability and pedestrian access to other areas in Charlotte. They plan on refurbishing a one-mile path around the lake, which is less than a half-mile from the light-rail station on J.W. Clay Boulevard and this path is also in close proximity to the existing greenways. A hotel and commercial space are also among the additions to this project.
