Winston-Salem Development News

[desertpunk]

Ok, relaunch time!


image hosted on flickr

Winston Salem Skyline by Susan Sharpless Smith, on Flickr

[desertpunk]

the Journal

Demand continues for downtown Winston-Salem rental properties, official says
By Richard Craver
Published: June 09, 2011



Downtown Winston-Salem has arrived at another crossroads with its housing market. Despite having 1,194 units in the downtown core – and 1,960 overall – pent-up demand continues to build, particularly for rental space, according to Jason Thiel, president of the Downtown Winston-Salem Partnership.

That’s the bright side of the issue, Thiel told about 150 attendees today during a presentation updating downtown initiatives that also involved Piedmont Triad Research Park and the Center for Design Innovation. Thiel said downtown’s housing challenge is trying to balance pent-up demand with the dynamics of supply and demand that appear to be driving rental costs up. Thiel said that the downtown housing units are 60 percent rental and 40 percent owned. “The question is determining how many more units are needed, thus the opportunity and the risk,” Thiel said. “We need a diversity of housing where multiple income levels work.”

The 2010 Census shows population growth of 36.9 percent over past 10 years, from 1,499 to 2,052, in the city center's primary census tract. Even though three of the five census tracts lost residents, downtown had a net gain of almost 1,000.

Thiel said he knows of about 185 rental housing units in the planning stage, including 110 units for the Hilltop House development at 234 S. Cherry St. Bud Baker, the former top executive of Wachovia Corp., is aiming Hilltop House at students, young professionals or retirees looking to downsize. Rents will range from $650 to $850 a month for units in the older section and will range from $825 to $1,050 in the new building.

Another project is the due-diligence stage is with U.S. Development Co. of Columbia, S.C., which is planning a mixed-use project on Trade Street that would include 60 high-end studio and one-bedroom units for rent on three floors of Coe Plaza in the $700-a-month range. It also has plans for a restaurant and retail shops on the first floor, “We’re still waiting for the suburban housing markets to free up enough so that people who want to buy a unit downtown can sell their house to be able to do so,” Thiel said.

Doug Edgeton, the president of the research park, said that construction on Research Park Boulevard will begin by late summer and take about 18 months to complete. The four-lane road will run from Stadium Boulevard to Third Street. It's estimated the project will cost $8 million, according to documents given to the Winston-Salem City Council. The N.C. Transportation Department has allocated $4 million, with the city and Forsyth County paying the rest. City officials intend to use $2.8 million in repaid Dell Inc. incentive money for the project. The city and county will pay the remaining $1.2 million with money that the City-County Utility Commission makes by selling water outside of the county.

Carol Strohecker, director of the Center for Design Innovation, said officials have resumed architectural and site-preparation efforts for its planned three-story building in the research park. She said the center is considering an indoor amphitheater-type auditorium. The UNC system acquired in January nearly four acres in the South District. Construction has been projected to begin by the end of the year. The land cost slightly more than $1 million. The money came from a pot of more than $11 million in state-allocated capital funds Winston-Salem State University has been holding for several years for the center.

The center has been operating since 2007 at a temporary site in Winston Tower. It was established in 2005 as a multicampus research center of the UNC system, the result of a partnership between WSSU, UNC School of the Arts and Forsyth Technical Community College. WSSU is handling the design and building of the center, and the UNC School of the Arts will oversee its maintenance and operations.

[...]

[TwinCity]

Of course I'll contribute.

June 9, 2011

Cancer Center Expansion Underway

$125 Million Project Will Create Region’s First Free-standing Cancer Hospital

WINSTON-SALEM, N.C. – Wake Forest Baptist Medical Center has begun site preparation for the construction of a six-floor addition to its Comprehensive Cancer Center.

The $125 million project will add four inpatient floors, one day hospital floor, and one administrative floor, consolidating inpatient and outpatient services in a free-standing cancer hospital, the first such facility in the region.

full press release:

http://www.wakehealth.edu/News-Relea...mpaign=itn2011

[TheBermudaTriad]

Investors Want To Turn Old RJR Buildings into Apartments, Retail Space

WINSTON-SALEM, N.C. (WGHP)— A developer and a former NFL player want to turn some former RJR buildings into hundreds of upscale apartments and lots of retail space.

Tom Neimann, a Durham developer, and Christopher Harrison, former player with the Detroit Lions and Minnesota Vikings, are acquiring the buildings on Fourth Street with plans to turn them into what they call Plant 64.

The $60 million project involves creating 243 upscale apartments and 10,000 square feet of retail space. Jason Thiel with the Downtown Winston-Salem Partnership said it would be the largest apartment complex in downtown.

Niemann said he has been watching Winston-Salem's growth since the 1990s and believes the timing for this project is perfect. Thiel agrees.

"It's what we are seeing: The 'For Rent' market has been underserved, particularly in downtown. All of the units built in downtown are leased out," Thiel said.

Camino Bakery just opened up this week on Fourth Street. Manager Austin Pfeiffer said they picked the location because they noticed more people living in the area and going there for entertainment.

"This is definitely becoming an urban center rather than a place where people work in offices," Pfieffer said.

However, the business climate is also playing a role in building the big project. The developers cited the opening of the Wake Forest Biotech Place next year and the overall resurgence of the Piedmont Triad Research Park as other reasons for moving forward with their plans.

The developers hope to have financing in place and construction ready to start by February. They would like to see the project completed by mid-2013.


http://www.myfox8.com/news/wghp-inve...,2202093.story

[TwinCity]

Originally Posted by TheBermudaTriad

Investors Want To Turn Old RJR Buildings into Apartments, Retail Space

WINSTON-SALEM, N.C. (WGHP)— A developer and a former NFL player want to turn some former RJR buildings into hundreds of upscale apartments and lots of retail space.

Tom Neimann, a Durham developer, and Christopher Harrison, former player with the Detroit Lions and Minnesota Vikings, are acquiring the buildings on Fourth Street with plans to turn them into what they call Plant 64.

The $60 million project involves creating 243 upscale apartments and 10,000 square feet of retail space. Jason Thiel with the Downtown Winston-Salem Partnership said it would be the largest apartment complex in downtown.

Niemann said he has been watching Winston-Salem's growth since the 1990s and believes the timing for this project is perfect. Thiel agrees.

"It's what we are seeing: The 'For Rent' market has been underserved, particularly in downtown. All of the units built in downtown are leased out," Thiel said.

Camino Bakery just opened up this week on Fourth Street. Manager Austin Pfeiffer said they picked the location because they noticed more people living in the area and going there for entertainment.

"This is definitely becoming an urban center rather than a place where people work in offices," Pfieffer said.

However, the business climate is also playing a role in building the big project. The developers cited the opening of the Wake Forest Biotech Place next year and the overall resurgence of the Piedmont Triad Research Park as other reasons for moving forward with their plans.

The developers hope to have financing in place and construction ready to start by February. They would like to see the project completed by mid-2013.


http://www.myfox8.com/news/wghp-inve...,2202093.story

This is huge news for PTRP's North District.

4th & Linden Street
image hosted on flickr



image hosted on flickr


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image hosted on flickr

-parking on the 1st floor
-rooftop terrace overlooking 5th street

image hosted on flickr

portion of the RJR parking lot will be reserved for residents. A covered walkway will cross over 5th Street.


The site today.
image hosted on flickr

image hosted on flickr

[TheBermudaTriad]

looks nice! thanks for posting pics!

[DCmetroraleigh]

A former tobacco warehouse in downtown Winston-Salem will soon be home to 86 new apartments.

Winston Factory Lofts, home to 85 apartments on Main and Sixth streets, bought the building next door and will begin renovating it in February.

The new building will house 86 apartments and include other amenities such as its own movie theater, a large gym, a gaming room and a rooftop deck.

The new apartments will open in summer 2013.

http://www.myfox8.com/news/wghp-old-...,3080467.story

[desertpunk]

WSSU Construction boom

The Donald J Reaves Student Activities Center is seen under construction on the WSSU campus, Fri., Nov. 2, 2012.




WSSU's Student Success Center

[desertpunk]

Winston Factory Lofts


http://downtownwinstonsalem.blogspot...y-lofts-2.html


http://downtownwinstonsalem.blogspot...-2-update.html


http://downtownwinstonsalem.blogspot...-2-update.html

[desertpunk]

Remediaton and redevelopment work at Reynolds plant underway

image hosted on flickr

http://www.flickr.com/photos/31214839@N06/

[TwinCity]

Bailey Power Plant Entertainment Center

Current plans call for 2 restaurants, a club, independent cinema, offices and conference space. I'm sure they can change as the completion date gets closer. Space should be available by next Summer.

more here:
http://cra-llc.net/pdfs/office/Baile...lier%20CCC.pdf

Bailey Park at East End
opposite the Power Plant.