Red Hill Ventures has officially taken over the lakefront shopping center long known as The Shoppes at University Place and, this spring, slapped on a new name: The Boardwalk at University City. The company is touting a multi‑million‑dollar refresh that will update storefronts, public spaces and the boardwalk circling the lake. The goal is to turn University City, the neighborhood anchored by UNC Charlotte, into a livelier day‑to‑night destination for students, nearby residents and office workers.
Red Hill Paid About $18.5 Million and Pledged $5 Million-Plus
According to the Charlotte Observer, Red Hill bought the roughly 8‑acre plaza last year for about $18.5 million and has said it will pour more than $5 million into reviving the center. The paper reported that occupancy sat at around 69% when the deal closed, a number Red Hill hopes to boost by recruiting new restaurants along with medical and service tenants. All of that is happening as developers and neighborhood advocates try to turn the area’s heavy university and office traffic into more consistent evening and weekend activity.
Planned Upgrades Aim to Modernize the Lakefront
As outlined by University City Partners, the work is set to roll out in phases and includes refreshed building facades, upgraded office interiors, improved landscaping and lighting, clearer wayfinding, and expanded event infrastructure to handle markets and festivals. Red Hill CEO Todd Collins has called the site “a diamond in the rough” and says the firm wants to “modernize the center and activate the lakefront” so it better supports local businesses and community programming.
Tenants, Transit and Community Use
The center still features long‑time staples such as Boardwalk Billy’s, Famous Toastery and Brixx Wood Fired Pizza, as shown on the property’s Shoppes at University Place site. Marketing for the plaza also plays up its proximity to the JW Clay/UNC Charlotte light‑rail stop, a key selling point the new owner says helps pull in students and workers. The University City Farmers Market has long used the plaza for parking and pedestrian access, reinforcing the center’s role as both a retail hub and a neighborhood gathering spot.
Phasing and Leasing Will Determine the Outcome
Red Hill says the upgrades will arrive in stages so existing businesses can keep their doors open while construction is underway, and the firm is actively marketing vacant corners to concepts that have been hard to find in University City. Local business organizations say that better public spaces and clearer signage could help convert occasional visitors into regular evening and weekend customers. Early signs of renewed energy include local operators agreeing to refreshed spaces as leasing interest starts to tick up…