The Waverly Fredericton Phase 1 is a mixed use commercial building with offices on the top 5 floors and retail/office space on the ground floor. The top 5 floors make up a total of 75,000 sq.ft. while the lower retail space features 4,500 sq.ft. of high-visibility property on one of Fredericton's busiest streets. The scope of work includes ground up construction of a new six-storey concrete office building, clad with glazing and aluminum panels. It also will feature new electrical and mechanical.

The building is a new construction with available office spaces for lease and is fibre optic ready. Along with this, the building features masonry construction and modern finishes.