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.
The Winston-Salem Journal ran a front-page story in their Sunday edition yesterday about the imminent opening of the Residences @ the RJ Reynolds Building in Winston-Salem. Here are just a few tidbits:
The Residences @ the R.J. Reynolds Building expects to have its first dwellers “in legendary living” in early March, with the bulk moving in by late summer, said Chris Girard, a sales and marketing official with developer PMC Property Group.
PMC provided the Journal with a look at the renovations occurring on the seventh through 19th floors of the historic “Grand Old Lady.” Those include one- and two-bedroom apartment models, and social and recreational amenities that residents will share with guests in the Kimpton Cardinal Hotel…
There will be 20 units each on floors seven through 10, and six units each on floors 11 through 19 of the main tower. Because of superstitions of the time, there is no 13th floor.
Girard said 65 percent of the units will be one bedroom and 35 percent two bedrooms. Monthly rent starts at $995 for a one-bedroom unit and average $1,385 for a two-bedroom unit.
Click here to see a short video that accompanies the story.
Signature Real Estate of Winston-Salem is proposing to finish developing a community that was originally proposed by Mega Builders in 2004. From the Triad Business Journal:
The project will be located on an 8-acre tract on the south side of East Hanes Mill Road and Brassfield Drive, just across from Sara Lee’s corporate campus. It will feature a combination of 96 multifamily units and 20 town home units, according to site plans filed by Gateway Management Services LTD, an entity managed by Signature Real Estate…
Signature Real Estate’s site plan amendments included adjusting the number of proposed units for the area, changing part of the street network from public roads to private and making slight alterations to the building elevations. The Winston-Salem Forsyth County city-county planning board approved Signature’s site plan amendment on Oct. 10. That allows the developers to move the request on to a public hearing at the Winston-Salem City Council’s November meeting, Norby said.
The proposed development is located in an active area that’s seen recent employment growth and construction activity, Norby said. B/E Aerospace, for example, is building a new facility to expand its operations, he said. “You’re going to have continued job growth in this area, and so this would present some very convenient housing options for people,” Norby said. “You’ve got a whole lot of employment on Hanes Mill Road and University Parkway… as long as those jobs are increasing out there, you’re going to have some increased demand for housing.”
Update 1/31/13 – Today’s Winston-Salem Journal has more details:
…U.S. Development plans to renovate the top two floors of City Plaza to create 45 apartments with monthly rents starting in the $700 to $800 range…
David Bryant, president of U.S. Development, said he expected the sale to be completed today, after which he would provide more details beyond the previously stated plans for apartments and a potential restaurant…
Coe said he wants to bring the Pepper Building “back to its glamour with apartments that people can afford and retail on the first floor. We’re still talking about what makes sense in terms of a restaurant.”
He said he would be willing to offer the restaurant space to local entrepreneurs as he did with the local owner-ship of Sweet Potatoes on Trade Street.
“We would like it to be an attraction and leave its mark on downtown like Sweet Potatoes and Chelsee’s has,” Coe said. “I don’t know how long it will take the renovations to complete, but I do know that weekend after next, the lights will be on and work will begin.”
From Smitty’s Notes Facebook page:
BREAKING NEWS: Mike and Patricia Coe have just purchased the Pepper Building at Fourth and Liberty St in downtown W-S. Plans are for 45 apartments jointly developed by U.S. Development Corp on the top floors. A Cowboy Brazilian Steakhouse is planned for the street level. Stay tuned for more info.
According to the data at this website the Pepper Building is an art deco building that originally opened in 1928. It has seven floors and two basement levels. Here’s a description from the site:
Thomas Pepper purchased the Phoenix Hotel in 1926 and demolished it for his new office building, named the Pepper Building. This building was originally proposed as a 28 storey building named the Van Dyke Building. The basement was home to the Sir Winston Restaurant and the ground level was leased by Huntley Hill Stockton Furniture. The Pepper Building was the first Art Deco office building in North Carolina.
BSC Holdings’ Lofts at Little Creek project, a part of the Shoppes on Little Creek multi-use development on Hanes Mall Blvd. in Winston-Salem, got a nice write-up in the Winston-Salem Journal:
The 257,000-square-foot Lofts at Little Creek will have apartments from 937 square feet to 1,314 square feet and from one to two bedrooms. The monthly rent will range from $930 to $1,225.
The apartment building will have amenities that include a fitness center, a business center and emergency maintenance — all 24 hours a day. The apartment development will have a Wii room, a theater, a billiards game room and a 2,000-square-foot parlor with an open kitchen and granite fireplace.
Other features include a full-service pool with a waterfall, a hammock station, miniature golf and a full-service laundry facility, on-site storage, elevators and a conference room offering teleconferencing capabilities…
Because the building is being constructed in three stages, the first apartments are expected to be ready for move-in by mid- to-late May. An on-site manager is in place for the company to start marketing the apartments next month.
From the Winston-Salem Journal:
The City-County Planning Board unanimously approved a proposal for an upscale apartment community on West Fourth Street, despite opposition from about 30 people who live in Westside Apartments, which would be demolished for the project.
The petition by Bcbb LLC, which owns Westside Apartments, will now move to the Winston-Salem City Council for final approval.
Bcbb LLC wants the planning board to rezone the Westside property, which has 136 units, from multifamily to multifamily special use.
Vision Development Co., the project’s developer, would demolish the old units and then build two buildings with 166 apartments plus a clubhouse and leasing center.
During the hearing one board member took the opportunity to urge Winston-Salem’s city council to consider incentives for affordable housing in the city:
Despite their support for the proposal, several planning board members talked about the need for affordable housing in Winston-Salem.
“This is my opportunity to say to the city council that it’s time to look at some kind of incentive program for the construction of affordable housing in our urban core,” said board member Barry Lyons.
From the Triad Business Journal:
The project involves converting the former YWCA facility on Glade Street into seven apartments ranging in size from roughly 1,000 square feet to 2,670 square feet, with monthly rents estimated to be between $1,250 to $2,500. The project also includes about 19 single-family homes with starting prices just north of $500,000.
Benton said construction won’t begin until the first of the year, but that marketing will begin in earnest in the next couple of weeks. “The brochures are just about ready,” he said.
If it gets approval for its plans Vision Development is going to build a 166 unit gated community geared towards medical students from nearby Wake Forest University Baptist Medical Center on a site that currently features the 136 unit Westside Apartments:
The Vision Development project — called The Edge — will be largely dependent on successfully rezoning the land to allow for up to 26 units per acre.
Gary H. Roberts, a project planner with the Winston-Salem/Forsyth County Planning Department, said the City-County Planning Board is supportive of the rezoning request and is recommending approval at the board’s Thursday meeting.
If the rezoning is successful, construction could begin as early as the end of October, Shaffer said. Windsor Commercial is the general contractor for the project, Shaffer said, and the project could be complete by fall 2013.
From the Winston-Salem Journal:
An apartment complex that developers want to build across the street from BB&T Ballpark in downtown Winston-Salem won unanimous approval from the Winston-Salem City Council on Monday night…
The complex will have about 200 apartments and about 300 parking spaces, as well as a pool, according to planning documents. No timetable was given for construction.
Brian Hall, a project manager at Samet Corp., the general contractor that is building the complex, said Monday that the apartments would rent for “market rate” and would be comparable to other apartments already downtown.
Local CBS affiliate WFMY ran a fairly extensive story on the rise in apartment construction in the Piedmont Triad (link below).
WFMY Story About Apartment Construction in the Piedmont