Plans were announced today to redevelop 100 acres of land owned by Wake Forest University.
The project, located near the Winston-Salem Fairgrounds and Allegacy Federal Credit Union Stadium, is called “The Grounds.” It will include retail, dining, residential and office spaces.
It’s the result of a partnership between the city of Winston-Salem, Wake Forest University, and real estate development firms Carter, and Front Street Capital.
Right now, the land is predominantly made up of parking lots. But over the next few years, it’s intended to become a gathering place for students and staff as well as the broader Winston-Salem community.
Front Street Capital President and Managing Partner Coleman Team says more than 150 stakeholders, including community groups and residents of nearby neighborhoods, were interviewed for this project.
“It has been a concerted effort to really engage with the general public. I think that is manifested in the name ‘The Grounds,'" Team said. "This is not 'Deac Town.' This is not 'Wake Forestville.' This is truly intended to be something that the community can come and enjoy.”
Team says there will be restaurants, shops, residential units marketed toward graduate students, and an office building intended to be leased by the university.
But the “heart of the project,” Team says, is the restoration of Silas Creek and the establishment of a greenway system with walking trails.
In a press release, Wake Forest President Susan Wente said the development would “enhance the student experience, attract new talent and contribute to the city’s overall vitality.”
“By creating a dynamic place that blends residential, commercial, athletic stadiums, and welcoming public gathering spaces, we are reimagining the university’s role as a community partner," Wente said.
Developers will break ground on the project in December. The office and retail village are expected to be completed in the summer of 2026.
Amy Diaz covers education for WFDD in partnership with Report For America. You can follow her on Twitter at @amydiaze.