What's a good development strategy for a neighborhood that's seeing a lot of mixed-use development? More mixed-use development.

That's the approach of a JV between Crosland Southeast and Childress Klein and the Matthews family, which acquired an 8.5-acre site on Providence Road adjacent to the planned Crescent Providence Farm residential community and the master planned Waverly.

Childress Klein partner Chris Thomas says the developers are looking forward to delivering a hotel and mix of retailers that will complement both the Crescent Providence Farm and Waverly communities. The as-yet unnamed project won't, however, be a second phase or extension of Waverly.

Crescent Communities, the seller of the land, previously obtained rezoning for the site allowing a hotel and as much as 30k SF of other commercial space. Crosland Southeast and Childress Klein plan several single-tenant and multi-tenant retail buildings.

Crosland Southeast, Childress Klein and the Matthews family are currently (and separately) developing Waverly, which will include 250k SF of retail space anchored by a Whole Foods Market, two six-story office buildings, 375 upscale apartments called Solis Waverly, and about 150 single-family homes and townhomes by David Weekley Homes.