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.
Much of Winston-Salem’s downtown apartment development has been concentrated near the Innovation Quarter and the central downtown area, with the notable exception of the Link Apartments Brookstown, which is across the street from BB&T Ballpark on the west side of downtown. That’s about to change with the addition of West End Station, which should deliver 229 apartment units to Winston-Salem’s West End within 24 months. From an article in the Winston-Salem Journal:
The $35 million development will provide 229 apartments in a block that’s close to both the center of downtown and the BB&T Ballpark, said Porter Jones, the president of DPJ Residential, a Charlotte-based developer doing its first project in Winston-Salem…
DPJ Residential and Chaucer Creek Capital of Raleigh are going 50/50 on the development. Chaucer Creek Capital owns the Gallery Lofts apartment community in downtown Winston-Salem, but the West End Station is the first development here for DPJ Residential…
Jones said West End Station will have a saltwater swimming pool and a fitness center, a two-story clubhouse with an outdoor terrace and gas grills, and two elevated courtyards above the parking deck on the lower floor of the building that faces Brookstown Avenue. In all, there will be 300 parking spaces.
Offering a mix of one- and two-bedroom apartments, the development will have rent ranges from $1,200 to $1,300 per month for the one-bedroom units, Jones said, to $1,600 to $1,650 for the two-bedroom units.
A proposed apartment development in Winston-Salem, which the developer is describing as a “gateway into the city,” is facing an uphill battle. City planning staff is recommending against approval for the project, but its fate will be determined at a planning board meeting tonight (August 10, 2017).
Despite the planning staff’s recommendation, the project could get through the approval process because the developer, Daniel Donathan, has set aside 15% of the units for “reduced subsidized rentals” which addresses a key concern of city leaders: a dearth of affordable housing units in the city. From an article in the Winston-Salem Journal:
Monthly rent for the majority of the apartments is expected to range from $1,400 to $1,700.
But plans are to have 15 percent of the new apartments available “for reduced subsidized rental” at an estimated monthly rate of $650 to $750, Donathan said.
“I’m talking about having the possibility of those people that we relocate coming back into the same area,” he said.
Overall, the proposed project would result in 144 units and would be located between Peters Creek Parkway and Fourth Street, just south of Business 40.
Laurel Street bought the property from Goler, which is trying to revitalize the Goler neighborhood, once considered the downtown for the city’s black community.
Rents at 757 North range from $740 to $1,550. Nelson said 25 percent — roughly 29 units — are set aside for renters making 80 percent or less of Winston-Salem’s median income, with rents ranging from $740 to $850, Nelson said.
The city of Winston-Salem approved a $1.25 million subsidized loan to be repaid over 20 years as well as a $325,000 land grant.
Site work has begun on a $35 million, 229-unit luxury apartment building in Winston-Salem’s West End. From the Triad Business Journal:
West End Station, a 229-unit building with modern amenities, including enclosed parking, saltwater swimming pool, fitness center, elevated and landscaped courtyards, is scheduled to open in about two years, according to developers DPJ Residential and Chaucer Creek Capital.
Porter Jones, principal of DPJ, estimated the project cost at $35 million. He said one-bedroom apartments would rent for about $1,200, with two-bedroom units at around $1,600.
Porter said demolition started this week. He said he expected the units to open in about two years. The address is 206 N. Green St…
The two-story clubhouse will include a fitness center, a yoga and spin bike room, a full demonstration kitchen, a resident lounge, business center, an elevated terrace looking out over the pool and two elevated landscaped courtyards with gas grills, outdoor TVs and lounge seating.
Parking will be accessible by three elevators. The 121-car single-story, secured deck will run under a portion of the building. The surface lot will have 173 spaces. Units along Green Street will have direct pedestrian access to the sidewalk as well as unobstructed downtown skyline views.
The redeveloper of Whitaker Park, the former RJ Reynolds manufacturing campus in north Winston-Salem, has indicated that an out of town developer is potentially building 185 to 210 apartment units. From the Triad Business Journal:
Construction could start by the late first quarter or early second quarter of 2017, Leak said.
“This is a mixed-use project that we are going to develop so the hope is that there are going to be a lot of jobs created by companies in other parts of that park and so some of them might want to live approximate to where they work,” Leak said.
He added that there is an opportunity for the developer to market the units to Wake Forest University basketball and football fans who come into town for the games.
A Lewisville developer is breathing new life into a downtown Winston-Salem apartment complex by refashioning it as “The Livery.”
The idea behind the 27-unit complex at 648 Holly Ave. was to create the appearance the building was a “high-end horse barn” that’s been renovated into apartments, said Jeff Zenger, president of Lisha Construction and Solomon Development…
Zenger bought 648 Holly Ave. for $500,000, and plans to invest at least $1 million to completely renovate the building inside and out, along with a carriage house on the property…
The complex’s one-bedroom units are about 535 square feet and are being reworked with new central air and heat along with amenities such as granite countertops and stainless steel appliances…
Pre-leasing for the building has now begun, with the first units expected to be ready by Aug. 1 and rent for around $800.
Stafford Place, 360 units Parr Investments targeted Winston-Salem for its 360-unit development with spacious floor plans and high-end finishes. The complex features extras such as a 21-seat movie theater, a coffee bar where residents can socialize and relax, a business center and a swimming pool. Nowadays, tenants want more than living space. A sense of community helps them to feel connected, and we increasingly see amenities that encourage socializing between tenants.
At its May 2 meeting the Winston-Salem City Council voted 5-2 to deny a rezoning request for a 54-unit apartment development in the city’s northwest ward. From the Winston-Salem Journal:
Siding with neighbors who came out in opposition, the Winston-Salem City Council on Monday rejected a developer’s plan to put a low-income, two-story 54-unit apartment building at the entrance to the Town and Country neighborhood at the corner of Briarcliffe and Reynolda roads…
Developer Bill Scantland described the apartment building as one that would serve people who are 55 years old or older, who make between 30 and 60 percent of the area median income of $58,500. Scantland said the building would look just like one built for market-rate tenants.
Opponents said the apartment building would be too tall for the neighborhood, especially since the corner lot drops off about 20 feet in elevation from Reynolda Road to Briarcliffe…
When the proposed rezoning went to the City-County Planning Board on April 14, it had no opposition and sailed through on a unanimous vote — although it was noted that emails were coming in from people who said that they didn’t know about the case and hadn’t had enough time to think about it.
One problem, it turns out, is that the neighborhood meeting to discuss the plan with Town and Country residents was held on April 13, only one day before the planning vote…
The developer’s financing imposed a time frame that didn’t allow for postponing the decision, MacIntosh said.
The City-County Planning Board in Forsyth County has indicated it supports a proposed 66-unit apartment community off of Peters Creek Parkway near the Davidson County line. From an article in the Winston-Salem Journal:
Gardner Capital Development wants to build The Reserve at Hickory Commons on 5.36 acres at 1295 Hartman Plaza Drive. The property is currently zoned for highway business-special use and has been commercially zoned since 1986. It is near A Child’s World Learning Center.
The project’s site plan shows four-, two- and three-story apartment buildings, along with a one-story clubhouse…
The planning staff has recommended approval of the project.
“It’s within the Oliver’s Crossing Activity Center and it is located along the Peters Creek Parkway Growth Corridor,” said Gary Roberts, a project planner for city-county planning and development services. “Legacy (2030 Comprehensive Plan for Winston-Salem and Forsyth County) calls for higher density residential along growth corridors and in activity centers.”