Probably the highest-profile project in Winston-Salem that isn’t in the Innovation Quarter is the repurposing of the old GMAC Insurance Building at 500 W. 5th Street. As part of that project, Grubb Properties is constructing a five-story mixed-use building that will include 224 apartments. Here are some of the details of their plans as described in an article in the Winston-Salem Journal:
Grubb has announced plans for a $48 million, five-story mixed-use facility that will stretch to the boundaries of Fourth and Poplar streets. It will contain a mini dog park and an adjacent “pocket park” off North Spruce Street.
Thomas said the plans include having five stories fronting on Fourth Street with retail on the first floor and four stories on the side adjacent to the 500 West Fifth Street tower...
Grubb has committed to making 5% of the apartments affordable to people making up to 90 percent of area median income, and 25 percent of the apartments having rents affordable by people making up to 110 percent of the median.
Winston-Salem is about to get a new mixed-use development in an old(ish) building. From the Triad Business Journal:
Winston-Salem Mayor Allen Joines announced Thursday that local business leader Don Flow and Charlotte-based developer Grubb Properties will redevelop the former GMAC building and an adjacent site extending to Fourth Street into a business center with retail spaces and apartments.
Flow will buy the 18-story GMAC building, to which he plans to relocate all Flow Companies corporate services that are currently housed at locations throughout North Carolina and Virginia. The primary focus of the remaining floors of the building will be on attracting start-up and early-stage growth companies by offering extremely affordable space, officials said…
In a second project, Grubb will develop a $48 million residential and retail project on the site just south of the tower, including the surface parking lot. The project will include 240 residential units and storefronts along Fourth Street.
Grubb has committed to making 30 percent of the housing units affordable to working people, the city said...
The affordable housing units will be set aside for people making no more than 110 percent of area median household income. Assistant City Manager Derwick Paige said that median household income here changes over time but tends to hover around $40,500. That would put the maximum income for the affordable units at close to $44,550.
Grubb Properties is expanding its footprint in Winston-Salem with a multi-use project in the Wake Forest Innovation Quarter that will include a 340-unit apartment community. From the Winston-Salem Journal:
Grubb Properties will develop more than 340 apartment units and about 5,000 square feet of retail space wrapped around a shared parking deck with more than 850 spaces, all on 3.4 acres.
The project will be built on what is now the Innovation Quarter P1 parking lot, between North Patterson Avenue and Chestnut Street adjacent to Wake Forest Biotech Place. Grubb Properties will build the residential and retail aspects of the project on the property through a ground lease with Wake Forest University Health Sciences. Wake Forest Baptist Medical Center will own the parking deck.
“This is going to be the largest private development ever of residential apartments in downtown Winston-Salem,” said Eric Tomlinson, president of Wake Forest Innovation Quarter.
The apartment amenities will include a street-level secured cycle center, a dog park and dog wash, an entertainment space overlooking Bailey Park, a courtyard with a saltwater pool, fire pits and grilling stations, and a fitness center.
Grubb also developed the Link Apartments Brookstown near BB&T Ballpark in Winston-Salem.