Developer EB Arrow announced plans Wednesday to develop 20 acres into multifamily homes, office space and retail in University City.
The community, which EB Arrow plans to call Waters Edge at University Place, will also have a waterfront park with a play area for kids and a one-mile trail around the lake. The office building will include ground-floor retail and a café overlooking the water.
Waters Edge will be less than a mile from the Barton Creek Greenway, easing access to UNC Charlotte and Atrium Health University City, according to a news release from the developer. It is also less than a half mile from the Lynx Blue Line J.W. Clay Boulevard Station.
Since the light rail extension opened in March 2018, LYNX Blue Line has sparked development along its route. Still, the Waters Edge office building would be one of the first built in University City in more than 10 years, according to the news release.
The community will be along J.W. Clay Boulevard. The property currently includes Michaels and Office Depot, among others.
“This is an exciting opportunity to create a vibrant, walkable activity center in University City,” Greg Wattson, executive vice president of development at EB Arrow, wrote in the release.
EB Arrow purchased 19.5 acres of the land for $9.1 million last year, according to property records. They filed for rezoning last year.
The rezoning hearing is planned for Monday. City council will later vote on the rezoning. If passed, EB Arrow will demolish the current buildings starting early 2020.