Pepper Building becoming Hotel Indigo and Sir Winston Restaurant

You may have heard that the Pepper Building had been purchased again, this time by Mayfair Street Partners of Cumming, GA in the the Atlanta metropolitan area. The firm focuses on retail and hospitality properties; the Pepper Building is the "Featured Project" on their website. They will be operating the property through a franchise agreement with Hotel Indigo which is an international chain in which, like Kimpton Hotels, every hotel is unique. Their most recent projects include a hotel in Bangkok, Thailand and Helsinki, Finland. They are truly international, operating over 50 hotels in 15+ countries. According to this Winston-Salem Journal article, approximately $15 million will be invested.

PTRP Names New Head

Eric Tomlinson has been named both President and Chief Innovation Officer of the Piedmont Triad Research Park.  According to information from other sources reporting on Mr. Tomlinson appointment, such as the Winston-Salem Journal, the News Release from Wake Forest Baptist Medical Center, and the Triad Biz Journal, Mr. Tomlinson is an experienced scientist and CEO with a special emphasis on bringing new products to market and will accordingly oversee all research and commercialization efforts.

Berkshire Hathaway Buys the Winston-Salem Journal

 

The purchase feels good:  Mr. Buffett stated he want the papers to have a "permanent" home with Berkshire Hathaway and it is obviously a big vote of confidence in the relevance and profitability of local papers.

$60-million Plant 64 Developers Seek Historic Landmark Designation

According to the Winston-Salem Journal and Triad Business Journal, Plant 64 is the oldest Reynolds Tobacco building still in existence.  Designation as a historic site would grant the developers significant tax-benefits but also burden them with some preservation responsibilities.  Seeking such status is encouraging however as it evidences movement on the part of the developers!  Mixed-use development is planned for the project which is located downtown at 500 E. Fifth Street and will feature 243 apartments and 10,000 sq ft. of retail space.