South Charlotte is Booming! Charlotte is growing faster than it has ever grown before! And some of that growth is happening in my own back yard!
Two new development plans were discussed at the Ballantyne Breakfast Club meeting last month: Waverly and Rea Farms. The Waverly development is south of I-485 at the intersection of Providence and Ardrey Kell roads. And the Rea Farms development is found on the opposite corner of the same intersection.
Both new developments have been zoned and will bring a variety of new retail, office and residential homes to the area. The Waverly development which is a 17.5 acre mixed-use development will include a Whole Foods, retail, office and medical office space. The Waverly development will also include apartments and single family homes.The medical office space will be part of the Novant Health Care System and opening is planned for later this year. The Whole Foods is projected to be complete and open Summer 2016. The remainder of the retail space construction will start mid-2016. Waverly will open the first wave of upscale, multi-family housing units in June 2016 with the second phase opening late July 2016.
The 194-acre Rea Farms, located at the former Golf Links site, has also been rezoned to allow up to 300 senior living dwelling units, up to 700,000 square feet of office space and 250,000 square feet of retail. Rea Farms will also include 200 single-family units, 500 multi-family units, and a recreational facility. With all of this growth and new homes, there will be a need for additional schools. To address this concern, Rea Farms developers have set aside a site for a new school. This school will offer the a STEAM (Science, Technology, Engineering, Arts and Mathematics) curriculum and will be a magnet school for kindergarten through eighth grade students and is slated to open August 2020 for 1,100 students.
With new development comes a whirlwind of emotions: fear for the construction, excitement for the growth and as a Real Estate Broker, eagerness to see the positive impact this exciting new development will have not only on the Charlotte economy but on the Charlotte real estate market.
Retail, Novant, Whole Foods, STEAM schools, and roughly 700 New Homes for Charlotteans is a Broker’s dream come true!