$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.
   

$60-Million Downtown Mixed-Use Development: Plant 64

Plant 64, located inside the Piedmont Triad Research Park, will convert a site previously owned by R.J.R. Tobacco into a mixed-use development with 240 apartments. The site is located across the street from Wake Forest Biotech Place, another former R.J. Reynolds manufacturing site that is currently receiving a $90-million up-fit. As reported by the Triad Business Journal:

There’s no doubt that the Triad apartment market is hot right now. The developers of Plant 64 complex in downtown Winston-Salem expect to benefit from the trend when they bring more than 240 rental units downtown as part of a mixed-use development in the Piedmont Triad Research Park.
Jon Lowder, executive director of the Piedmont Triad Apartment Association, said apartment complexes such as the Nissen Building on Fourth Street have seen strong demand from the corporate market and that the Plant 64 project also has potential to attract well-educated, young and single tenants.
“When you have people that are coming from other areas to work at some of the local companies, they are going to tend to want a little more urban feel,” he said. The Plant 64 project also has a great location because it's just a short walk to the arts scene on Trade Street.
“It’s all right there,” he said.