TwinCity
February 4th, 2006, 12:31 AM
One Park Vista:
- $15 mil
- 30-34 units
- underground parking
- ground floor restaurant
its almost been a year since this project was proposed... which is almost normal for new projects proposed for downtown Winston-Salem. This is another key project to help liven up 4th street. this also is the second residential building proposed for Civic Plaza.
Friday, January 27, 2006
Condo project moving ahead
Developer's plan would replace Davis building
By Bertrand M. Gutierrez
JOURNAL REPORTER
A multimillion-dollar building with upscale condos and underground parking would replace the former Davis Department Store downtown in a project soon heading to the Winston-Salem City Council.
A plan to replace the Davis building, on Fourth Street between Cherry and Trade streets, was introduced last spring by developers Kerry Avant and Thad Llewellyn as they described their vision for a six-story residential building.
Still a vision in progress, the proposed building could end up being seven or eight stories, having 30 to 34 condos and representing an investment of more than $15 million, Avant said yesterday.
Although plans are not final, Avant said that the building should look "timeless."
"What I'd like it to do is look old-world, like it belongs downtown," he said.
The condo project is part of a strong shift toward residential construction in the 27101 ZIP code.
Next door to the Davis building, a Durham developer is polishing plans to demolish the Pepper Building for a signature downtown project around the civic plaza, with an investment of $100 million to $150 million.
That project alone could attract 175 residents to the downtown area, according to the project leader, Niemann Capital. Josh Parker, a development associate with Niemann Capital, applauded the Davis building proposal.
"Every dollar that gets invested in a downtown residential project makes it more attractive for the next investment dollar," he said.
Economic officials tout downtown dwellers as providing a key economic engine for driving the area's revitalization.
"Residential construction drives other uses," said Jason Thiel, the new executive director of the Downtown Winston-Salem Partnership. According to the partnership, construction either started or was completed on nearly 600 residential units during 2005.
With Avant and Llewellyn's project, prices would start in the mid-$200,000 mark.
It probably won't have any stores on the ground floor, as was originally proposed.
But it might have a restaurant.
Three or four options remain open, and plans won't be concrete for another few weeks, Avant said.
John Allen, the city's development chief, said that the city expects Avant to ask the council in February to approve infrastructure work - the moving of water and sewer lines under the strollway next to the Davis building.
- $15 mil
- 30-34 units
- underground parking
- ground floor restaurant
its almost been a year since this project was proposed... which is almost normal for new projects proposed for downtown Winston-Salem. This is another key project to help liven up 4th street. this also is the second residential building proposed for Civic Plaza.
Friday, January 27, 2006
Condo project moving ahead
Developer's plan would replace Davis building
By Bertrand M. Gutierrez
JOURNAL REPORTER
A multimillion-dollar building with upscale condos and underground parking would replace the former Davis Department Store downtown in a project soon heading to the Winston-Salem City Council.
A plan to replace the Davis building, on Fourth Street between Cherry and Trade streets, was introduced last spring by developers Kerry Avant and Thad Llewellyn as they described their vision for a six-story residential building.
Still a vision in progress, the proposed building could end up being seven or eight stories, having 30 to 34 condos and representing an investment of more than $15 million, Avant said yesterday.
Although plans are not final, Avant said that the building should look "timeless."
"What I'd like it to do is look old-world, like it belongs downtown," he said.
The condo project is part of a strong shift toward residential construction in the 27101 ZIP code.
Next door to the Davis building, a Durham developer is polishing plans to demolish the Pepper Building for a signature downtown project around the civic plaza, with an investment of $100 million to $150 million.
That project alone could attract 175 residents to the downtown area, according to the project leader, Niemann Capital. Josh Parker, a development associate with Niemann Capital, applauded the Davis building proposal.
"Every dollar that gets invested in a downtown residential project makes it more attractive for the next investment dollar," he said.
Economic officials tout downtown dwellers as providing a key economic engine for driving the area's revitalization.
"Residential construction drives other uses," said Jason Thiel, the new executive director of the Downtown Winston-Salem Partnership. According to the partnership, construction either started or was completed on nearly 600 residential units during 2005.
With Avant and Llewellyn's project, prices would start in the mid-$200,000 mark.
It probably won't have any stores on the ground floor, as was originally proposed.
But it might have a restaurant.
Three or four options remain open, and plans won't be concrete for another few weeks, Avant said.
John Allen, the city's development chief, said that the city expects Avant to ask the council in February to approve infrastructure work - the moving of water and sewer lines under the strollway next to the Davis building.