$50 Million Boost for Waverly: Big News for One of South Charlotte’s Favorite Spots

One of South Charlotte’s busiest destinations just got a major vote of confidence. Waverly, the 90-acre mixed-use community at Providence Road and Interstate 485, has secured $50 million in new financing, signaling continued growth and strength in Charlotte’s retail market.

The 218,000-square-foot shopping center is owned by Childress Klein and Ascentris, who have been partners in the project since 2018 — one year after Waverly officially opened its doors.

More Than a Shopping Center

Waverly isn’t your typical retail complex — it’s a full lifestyle destination. Anchored by Whole Foods Market, the development blends restaurants, shops, offices, medical spaces, a hotel, and residential living — all designed with walkability in mind.

Whether you’re grabbing coffee at Clean Juice, stopping by Ulta Beauty or Athleta, or exploring the cozy local favorites like Plant House, Waverly continues to draw both locals and visitors for its mix of convenience and community energy.

Charlotte’s Retail Market Keeps Climbing

Charlotte’s retail market continues to outperform many across the country. According to Cushman & Wakefield, the city’s retail vacancy rate remains low at 3.8%, and average rental rates have climbed nearly 6% year-over-year — faster than the national average.

While the market saw a small dip in absorption this past quarter, that follows one of the strongest second quarters in the entire U.S. earlier this year. Simply put, demand for quality retail and mixed-use spaces in Charlotte isn’t slowing down.

Why It Matters

The new $50 million loan is more than a financial move — it’s a signal of investor confidence in Charlotte’s continued growth. Developments like Waverly represent what many people love about the Queen City: smart planning, walkable design, and a strong sense of place.

As Charlotte expands southward, Waverly remains a standout example of how retail, residential, and community life can all come together — and thrive.

Source: https://www.commercialsearch.com/news/childress-klein-jv-secures-50m-for-charlotte-retail-property/