[4] Major development occurred in the 1950s to 1970s with rapid infilling of housing built to a generally high standard on large (typically 800m2) blocks.

[5] Much of that housing stock is now ageing and renewal is occurring, frequently involving subdivision of the larger blocks into townhouse development.

The suburb was also the site of Victoria's first McDonald's restaurant, which opened on 12 September 1973, at the corner of High Street and Springvale Road.

Most of its shopping centres are streetside retail stores and restaurants along and around Kingsway and the Glen Waverley railway station.

Glen Waverley has also developed to become somewhat of a business hub in metropolitan Melbourne, with many international companies including Toshiba, Ansell, and NEC all having their Australian headquarters in the suburb.

[7] Nicknamed the "Centre of the Universe" (Chinese: "宇宙中心") by the local Chinese Australian residents due to its convenient location and transportation, ample amenities, high-quality schooling, relatively good weather and favourable living conditions,[8] Glen Waverley had the seventh highest number of AUD $1,000,000+ house sales in Melbourne in 2013.

The next most common countries or regions of birth were China 15.5%, India 9.4%, Malaysia 5.5%, Sri Lanka 9.3% and Hong Kong SAR 2.4%.

[17] In 2011, IKON Glen Waverley was constructed as a 10-storey apartment, office, retail and car parking complex between the railway station and Kingsway.

[20] The suburb also has numerous churches, and is home to the Victoria Police Academy, which occupies a former Roman Catholic seminary.

Although smaller than nearby shopping centres such as Westfield Knox or Chadstone, The Glen has continually grown and evolved.

In 2015,[21] plans were announced for a $500M redevelopment which was completed 2019 just prior to COVID and the prolonged shutdown periods that Melbourne endured.

Major retail tenants of the current shopping centre include David Jones, Target, ALDI, Coles, Woolworths, UNIQLO, H&M, JB Hi-Fi, Chemist Warehouse and Spotlight.

The relocation of the food court to the north-east corner has enabled diners to enjoy views looking out to Mt Dandenong.

Glen Waverley is also a key interchange hub in the proposed Suburban Rail Loop mega-project and the first SRL East phase.

[25] A number of bus routes operated by Ventura Bus Lines and CDC Melbourne also operate in the area, with connections to Monash University, Chadstone Shopping Centre, Eastland Shopping Centre, Westfield Knox, Rowville, St. Kilda, Glen Iris, Springvale, Blackburn, Mitcham, Dandenong and Croydon.

The Monash Freeway also runs through the south-western corner of Glen Waverley, with access via Ferntree Gully and Springvale roads.

Some scenes were recorded in the Century City Walk mall, Village Cinema, Townsend Street and the library.

[36] Australian pop group, Bachelor Girl, filmed the music video for their 1999 hit song Lucky Me[37][circular reference] inside The Glen Shopping Centre.