Recent Apartment Development Announcements in the Piedmont Triad

New apartment construction announcements continued over the last few weeks:

Keystone Group Planning 264 Apartments in Greensboro
Scott Wallace, president of Keystone, said the Wendover at Meadowood project will go up on 13 acres of land on the 900 block of Meadowood Street, near its intersection with West Wendover Avenue, and is slated for completion by the end of this year.

The complex is one of two apartment developments that Keystone is building in the Triad as part of a larger strategy to capitalize on increasing demand for rental units at a time when banks are more willing to finance multifamily projects.

Plant 64 Mixed Use Project Moving Forward (Winston-Salem)
After announcing their project seven months ago, the developers behind the approximately $55 million Plant 64 project in downtown Winston-Salem are moving forward with the mixed-use development and plan to hire a general contractor within the next 60 days.

New Atlantic Contracting of Winston-Salem,Whiting-Turner    of Baltimore, Branch & Associates of Roanoke, Va., and KBS Construction Co. of Richmond, Va., are the four contractors being considered for the Plant 64 mixed-use development, which involves renovating five historic R.J. Reynolds buildings into a mix of 243 apartment units, about 10,000 square feet of retail space and 355 parking spaces.

Samet Plans 205 Unit Community Next to BB&T Ballpark (Winston-Salem)
Samet Corp. has plans to develop 205 apartments next to the $48.7 million BB&T Ballpark that it built two years ago in downtown Winston-Salem.

The nearly 200,000-square-foot multifamily community would become the first residential component within a long-planned urban mixed-use development adjacent to the ballpark. Brookstown Development Partners developed BB&T Ballpark and owns 20 acres of adjacent property, but there has been little movement on the rest of the planned development in recent years.

Goler Targets Biotech Workers With New Project (Winston-Salem)
The planned apartments are a key component of redevelopment of the Goler neighborhood and seek to capitalize on demand from hundreds of employees who will work at the newly opened Wake Forest Biotech Place in the Piedmont Triad Research Park. Thus far, Goler has developed 170 of 300 planned homes in Winston-Salem including the $18 million, 82-unit Gallery Lofts apartment project on East Sixth Street.

Michael Suggs, chairman of the Goler Community Development Corp., said his organization is still in the early planning stages, but that the development could have 50 or more units.