Wake Forest University has appointed developers Carter and Front Street Capital to undertake a mixed-use development project that aims to revitalise the area incorporating a number of its sports venues.
The venture, entitled ‘The Grounds’, also involves the City of Winston-Salem and will revamp 100 acres of land that is currently mainly made up of University-owned parking lots and empty or demolished buildings.
The $150m (£115m/€136.2m) scheme will incorporate retail, dining, residential, and office in one community hub, in an effort to enhance Winston-Salem’s landscape and bolster its reputation as a sports and entertainment destination.
The Grounds will be situated among key venues including the Lawrence Joel Veterans Memorial Coliseum, Allegacy Federal Credit Union Stadium, David F. Couch Ballpark, Wake Forest Tennis Center, and Winston-Salem Fairgrounds & Arena.
The Grounds’ amenities will provide new options to enhance the experience for the more than 750,000 patrons who attend events in the area each year. Existing attractions held over 260 event days per year include Wake Forest and Atlantic Coast Conference (ACC) sports, ATP Tour tennis tournament the Winston-Salem Open, and numerous concerts and shows throughout the year.
Wake Forest vice-president and director of athletics, John Currie, said: “For more than 80 years, The Grounds site and surrounding venues have brought together people from around the state and country along with local residents for big Deacon victories, memorable concerts, special events, world-class sports contests or just good food and fellowship.
“The Grounds represents a new era of year-round fun, elevating our goal of providing the best fan experience in North Carolina. Wake Forest and the City of Winston-Salem operate the largest sports and entertainment facilities west of Greensboro and north of Charlotte in the state of North Carolina, and we are proud to partner with Mayor (Allen) Joines, our Winston-Salem City Council, and our colleagues at Carter and Front Street Capital on this transformational development for the entire community.”
Carter and Front Street Capital will officially break ground on the first phase of the project in December, which will include:
- A pedestrian-friendly retail village featuring a central lawn adjacent to a new Deacon Walk that will serve as a gateway to Allegacy Federal Credit Union Stadium. The more than 40,000 square foot village will comprise local and regional chef-driven restaurants, boutique shops with integrated patios, and outdoor community gathering spaces. Loft-style residential units will be situated above retail buildings, adding density and activity to the central plaza area.
- A 240-unit residential community with elevated amenities, greenspace views, and pedestrian access to the retail village.
- A 100,000 square foot office building intended to be leased by Wake Forest University.
- Infrastructure improvements utilising a $35m grant allocated by the State of North Carolina that include road improvements, restoration of Silas Creek, and the construction of a paved, landscaped walking trail that will provide pedestrian connectivity throughout The Grounds.
Carter and Front Street Capital selected Nelson to serve as the project’s architect based on its success leading similar large-scale, mixed-use projects. Nelson recently led the master development of The Battery for MLB franchise the Atlanta Braves, the first master-planned mixed-use development anchored by a professional sports stadium in the US.
Wake Forest resurrected the project in August 2023 after it had been effectively shelved for 13 years following the impact of the Great Recession on commercial and residential real estate ventures.
“Today marks a pivotal moment for Winston-Salem as we transform a vision into reality,” said Joines yesterday.
“The plans for this project are more than just renderings and drawings; they are a roadmap to a new era of vibrancy and opportunity for our city. The Grounds represents another key step in the growing momentum in this strategic and critical portion of our city, building on the successful rebirth of Whitaker Park and the expansion of the Senior Services Center.
“I am excited to see this redevelopment emerge as part of this thriving corridor and as a cornerstone of our city’s future.”
