In Winston-Salem over the weekend, a groundbreaking ceremony took place for a new entertainment destination. The mixed-use space will span some 100 acres.
On Saturday, roughly 200 attendees gathered inside Wake Forest University’s Bridger Field House at Allegacy Stadium. Many were there to find out more about all the land clearing that’s taken place recently along Deacon Boulevard just north of campus.
The Grounds is a big project. It’ll include road improvements, restoration of Silas Creek, a paved walking trail, retail village, bedroom community, office space and for-sale condos.
Following a short video reveal, roughly a dozen public and private partners spoke including Mayor Allen Joines, North Ward Council Member and Mayor Pro Tempore DD Adams, and Greater Winston-Salem Inc. President Mark Owens. Most speakers had strong Wake Forest ties including alumnus, and North Carolina State Representative Donny Lambeth, one of the appropriations chairs.
He recalled his initial $25 million ask for infrastructure funds for the project about two years ago.
"And I laid out the request," says Lambeth. "And I got absolutely no resistance. So, I’m thinking, that went pretty well, so I’m going to ask for $35 million! And that’s what I did and that’s what we got."
That money brings the total price tag for the first phase of construction to approximately $250 million. Planners hope the revitalized area will draw new residents, visitors and businesses to the area. University President Susan Wente says Wake Forest is in a unique position to foster the flourishing of this community.
"I am so fortunate to work with and meet so many passionate people who care deeply about ensuring that the relationship between Wake Forest and Winston-Salem truly is mutually beneficial and a meaningful partnership," she says.
Leading the development of The Grounds will be national real estate development and investment firm Carter headquartered in Atlanta, and development, asset management, and private equity real estate company, Front Street Capital based in Winston-Salem.