D.M.
L.,
Is he waking and crying? Or is his waking and just making enough noise you can hear him? My son often wakes up and just needs to wiggle around and adjust himself before going back to sleep. First, I would try letting him settle himself and see what happens.
But, yes it's just a phase. It goes along with the territory of age/stage/phase changes and reacting to the every changing environment and awareness of what's going on around him. I know it seems tedious, but you are doing an amazing job and good for you! I have done the same thing for my son and at 2.5, I still do it if he needs me and that's okay. I don't believe in taking care of your child's needs being a bad habit, or a habit at all. As children go through these phases, they need reassurance and love...that's all you're doing.
If you need to get him away from this for your own sanity, maybe introduce a transition object different from what he has now. Only bring it out when the sleep gets disturbed and make it the comfort object that helps him through this phase and transition him away from Mommy. Start slow and make it consistent. When he wakes, softly say we're going to get 'whatever you want to call it' and 'we're going to hug and love it and keep it safe'...this overtime helped my son get back to sleep after periods of sickness that made it tough to sleep or where he became dependent on Mommy for cuddles to get rest.
Just take a deep breath and keep doing what you're doing...this too shall pass.