Developer: Demolishing Historic Apartments Will Boost Winston-Salem Neighborhood
A proposed development that would demolish a historic Winston-Salem neighborhood has been met with resistance from residents, and they're pushing the city to fight for affordable housing. Residents also have questions about what will happen to the property and the people living there. WFDD’s Sean Bueter spoke to the developer of the plan to get some of his answers.
Robin Team is the President of Carolina Investment Properties, who says the company plans to negotiate with the neighborhood.
"We certainly want to listen to what the neighborhood has to say," says Team. "The neighborhood folks that would like to see this apartment community stay the way it is don't have a financial stake in this apartment complex. They're not the ones who will have to pay to put in new roofs and HVAC units and actually spend more in maintenance than the income that's coming in."
Team adds that his company has committed to work with the city. He says an example of a place of compromise would be to work out a way to help long-term residents maintain occupancy in a new unit with a similar price. There may be assistance available for other residents who plan on relocating, as well.
"I think when we finish the redevelopment here, the neighborhood is going to like it," says Team. "It's going to enhance their property value, especially the single-family homes that are closest to this property. I know the city of Winston-Salem is going to like the enhancement to tax value–and I might point out–without asking the city for a single dime."