Winston-Salem Decision Paves The Way For Ballpark Development
The Winston-Salem City Council has approved funding for a parking deck that allows a development project near BB&T Ballpark to move forward.
The council voted 7-1 Monday night to invest just over $8 million dollars in the deck, which will be built by Brand Properties. The Atlanta-based developer is planning a $53 million mixed-use project estimated to bring in about $300,000 in annual tax revenue to the city.
250 luxury apartments will be built on land northeast of the ballpark, along with 50,000 square feet of retail space that would include a grocery store.
Assistant City Manager Derwick Paige tells WFDD the project should get underway in spring of 2016.
Council member Derwin Montgomery was the lone dissenting vote, citing a lack of affordable housing in the initial phase of the project.
Officials say a second phase slated for 2017 would include provisions for affordable housing development.
CORRECTION: In an earlier version of this story, WFDD reported that the city contributed $53 million towards the development project, when that money is an investment from Brand Properties.