Purchase and Renovation of the O'Hanlon Building

http://www.bizjournals.com/triad/blog/morning-edition/2016/07/downtown-building-sells-for-2m-renovations-planned.html

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.

W-S 39th Best Place to Live in the U.S.!

This is a link to the article. This is a link to the specific write-up about Winston-Salem.

Raleigh is #4, Charlotte #15, W-S #39, GSO #51

Plans for Arts for Art's Sake Building to Open on Liberty Street

Follow this link to the Winston-Salem Journal article.  This is a link to their website. The new building will house the Red Dog Gallery featuring local artists, a jewelry and wearable art store, affordable studio space, and a conference or board room on the top floor with a terrace that will overlook the ARTivity on the Green park. Both the park and new building were designed by the local Stitch Design Shop. The architectural renderings were released at a Downtown Winston-Salem Partnership meeting. The Frank L. Blum Construction Company will build the facility.

The Explosive Growth of Cycling in Winston-Salem

As the 2015 Winston-Salem Cycling Classic quickly approaches at the end of this month on May 30-31, I am taken aback by the explosive growth of all the festivals, tournaments, and sporting events in this town. This past year saw the RiverRun International Film Festival becoming a qualifying film festival for the Oscars and Academy Awards in the categories of Animated and Documentary shorts, the music festival Phuzz Phest brought national acts such as Foxygen to our little town (these two events warranted the effusive praise in this article from the Huffington Post claiming the arts to have displaced tobacco in our town) the Winston-Salem Open which is an ATP 250 World Tour and Emirates U.S. Open Series tennis tournament, perhaps none has outpaced the growth of cycling in Winston-Salem like the Winston-Salem Cycling Classic.

The photo above depicts a 3-story banner unfurled on the 42,000 sqft building across from the Millennium Center at Liberty Street that will be the new home of a National Cycling Training Center of USA Cycling. In addition, the site is in the "pre-approval stage" of being designated a U.S. Olympic Committee training site which it would share with only one other site in the country and apparently has a written recommendation from USA Cycling's president and CEO Steve Johnson on the matter.

If that were not enough, Winston-Salem has been awarded the 2016 and 2017 Cycling Masters Road National Championships.

Proposed $240 Million Development Around BB&T Ballpark

Called the "Brookstown District", the development is proposed by Brand Properties of Atlanta and would include retail, residential, hotel and office space as well as provide parking for itself and BB&T Ballpark. To give an example of the scope and size of the project, approximately $1 billion has been spend on the main upfits in Wake Forest Innovation Quarter.


Here are links to local news outlets with more pictures:

Triad Business Journal

Photos on WXII12

Winston-Salem Journal

Winston-Salem One of "Ten Powerful Major Market Economies in the South that Don't Get Enough National Attention"

Winston-Salem One of Ten Powerful Major Market Economies in the South that Don't Get Enough National Attention.

According to Southern Business & Development magazine.

"Technology Overtakes Tobacco in Winston-Salem, NC" - a New York Times Article

Technology Overtakes Tobacco in Winston-Salem, NC

Piece in the New York Times  detailing development of Wake Forest Innovation Quarter:  "the technology business park is being updated to fit two development priorities of the 21st century:  proximity and collaboration", discussing why the Quarter is an "update" to Research Triangle Park.

Growth of the Winston-Salem Cycling Classic: ESPN Coverage?

Hamilton: Winston-Salem Cycling Classic continues to grow - Winston-Salem Journal: Scott Hamilton

U.S. Cycling Facility Coming to Downtown Winston-Salem - the National Olympic Cycling Center!!!

Lambert Architecture posted on their Facebook page  that they would be remodeling 505 N. Liberty Street so that it could become the National Olympic Cycling Center, similar in its association with USA Whitewater's National Training Center in Charlotte, NC. There are only 16 such National Training Centers in the U.S. Landing the Center seems to be the work of Richard Rouck, the chairman of the Winston-Salem Classic cycling event, Mayor Allen Joines, and of course USA Cycling. Lambert's architectural mock-up posted on their website depicts the Olympic Rings displayed prominently on the 5th Street building! Yeah! I imagine this will do wonders for the Winston-Salem Classic as well.

GMAC Building Redevelopment?

CBRE is listing, reportedly has "under contract" - unsure whether that is an "option to purchase" or an actual purchase - and is evaluating multiple "offers"? See this Triad Biz Journal article for more information. 

200 Jobs, United Furniture Coming to Winston-Salem!

As reported by Katie Arcieri of the Triad Business Journal. They will be renovating the historic Hanesbrands Weeks plant at W. 401 Hanes Mill Rd near SciWorks.

Reynolds to create 200 jobs in Tobaccoville to expand Vuse distribution

UPDATE: Reynolds to create 200 jobs in Tobaccoville to expand Vuse distribution - Winston-Salem Journal: Local Business

Reynolds Building to Become Boutique Hotel, Restaurant, and Apartments

The building was purchased by a partnership between Kimpton Hotels and Restaurants of San Francisco, and PMC Property Group of Philadelphia both of which specialize in high-end and historic renovations and have worked together on previous projects.

The sale price was $7.8 million, CBRE brokered the deal.

Mocksville company extends reach of Triads aerospace industry presence - Winston-Salem Journal: Local Business

Mocksville company extends reach of Triads aerospace industry presence - Winston-Salem Journal: Local Business

Hoots Beer Co./Roller Bar, Sutler Spirits, and 918 Bridge Street

I believe they signed the lease sometime ago and have been renovating the space for awhile but Hoots Beer Co. hopes to open Hoots Roller Bar in the former Hoots Roller Mill at 918 Bridge Street off Northwest Boulevard between Reynolda and Cherry. You know, that little warehouse section back-dropped by the steep-kudzoed hill and book-ended by Bob's Big Gas and the folk/outsider artist Sam "the Dot Man"?

Praise be, on August 27th, Ryan Pitts, Eric Weyer, and Eric Swaim the owners/founders reached their Kickstarter goal of $20,000 and I assume that means full-speed ahead. If you read this article fellas, please provide an update. This is an article that previously appeared in the Winston-Salem Journal about them.

In other news, according to this Winston-Salem Journal article, Scot Sanborn a (former?) model is applying for permits to become the North Carolina's 14th distillery as Sutler's Spirits which will also be housed in the former roller mill. And finally, Claire Calvin inspired by the Hoots Beer Co.'s success on Kickstarter (she contributed to their campaign), is trying to raise funds of her own to expand her Dinners on the Porch concept "family-friendly meals prepared the day they are delivered"*with real estate all its own. Contribute to her success here.

*Claire if you read this, it is a little long but I think that should be trademarked

New Five-Story Office Building to be Built at Fourth and Broad

The building will feature 55,000 sq. ft. of Class-A office space including a roof-top conference room. It is 60% pre-leased which the developer John Reece II, of Commercial Realty Advisors believes is a good sign for the market generally. Construction is set to begin in June and is estimated to be completed by mid-2014.

The Winston-Salem Cycling Classic!

Don Flow and Co., the group that brought professional tennis to the Twin City through the Winston-Salem Open, is now doing the same with cycling through the Winston-Salem Cycling Classic. The race will be an official USA Cycling event.

Wake Forest Innovation Quarer

The Piedmont Triad Research Park has been re-branded:  Wake Forest Innovation Quarter (this is a link to the new website.) Distilled from talking heads, the idea behind the re-branding seems to be 1) distinguish its from Research Triangle Park (PTRP v. RTP), 2) to leverage Wake Forest's brand, and 3) broaden appeal away from biotech to include IT and other high-tech industries.

Other Articles on the New Quarter:
 - The Winston-Salem Journal
 - The Triad Business Journal
 - Press Release from Wake Health

The Pepper Building

 The Pepper Building located at 104 Fourth St., has been purchased by a joint venture between U.S. Development and local developer Michael Coe. Local architect David E. Gall will design the project while McCrory Construction is to complete the work which is scheduled to begin immediately. Plans include moderately priced apartments ($800/month) with retail on the bottom floor. According to the Triad Business Journal, a Brazilian steakhouse has already been secured as a ground-floor tenant.