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Carter and Front Street Capital held a groundbreaking ceremony for “The Grounds,” their upcoming mixed-use development, on Saturday, December 7.
The Ceremony
Over 100 people attended the ceremony, including key figures like North Carolina Representative Donny Lambeth and Susan Wente, the president of Wake Forest University.
The groundbreaking ceremony for The Grounds highlighted the amount of teamwork required to bring the project to life. The Grounds has required coordination between the City of Winston-Salem, Wake Forest University, and real estate investment and development firms Carter and Front Street Development.
“What we are doing today is shaping the future of a community—our community,” said Coleman Team, the president of Front Street Development. “[Carter and Front Street Capital] understand that what we’re building today is going to influence how our community sees itself and how we play a role in creating generational… inspiration for community gathering, a place to find common ground.”
What is The Grounds?
The Grounds will be an entertainment destination with retail, dining, residential, and office space located in one community hub. Phase 1 of the project will cost more than $215 million and include:
- A pedestrian-friendly, 42,000 square-foot retail village with a central lawn, local and regional chef-driven restaurants, boutique shops, outdoor community gathering spaces, and 25 loft-style residential condos above the retail spaces
- An apartment complex offering 229 units with 521 furnished bedrooms, featuring views of the greenspace and pedestrian access to the retail village
- Deacon Walk, which will lead to Allegacy Stadium
- A 127,000 square-foot office building Wake Forest will lease out
- Infrastructure improvements using a $35 million grant allocated to North Carolina, which will include road improvements, the restoration of Silas Creek, and the construction of a paved, landscaped walking trail
- A greenway system that will connect to the heart of Wake Forest University’s campus
Since it was announced in September, an additional 2,000 square feet have been added to the retail village’s plans and 27,000 square feet have been added to the office building’s plans.
Where Will The Grounds Be?
The Grounds will occupy 100 acres around Deacon Boulevard. The area is currently home to several parking lots and The Last Resort, a bar beloved by Wake Forest students.
The location will situate The Grounds within walking distance of five major entertainment centers:
- Lawrence Joel Veterans Memorial Coliseum
- Allegacy Federal Credit Union Stadium
- David F. Couch Ballpark
- Wake Forest Tennis Center
- Winston-Salem Fairgrounds
Who is Behind The Grounds?
Carter and Front Street Capital are collaborating with Wake Forest University and the City of Winston-Salem to bring this project to life. Front Street Capital has previously worked on Bailey South in Winston-Salem, and Carter has overseen similar mixed-use development projects in cities like Cincinnati and Atlanta.
Carter and Front Street Capital is partnering with a team of design and construction professionals to build The Grounds, including:
- Architect firms NELSON Worldwide and The Preston Partnership
- General contractor Brasfield & Gorrie
- Civil engineering firm Stimmel Associates and McAdams
What About Parking?
Coleman Team, president of Front Street Capital, said the firm’s team hired a parking and traffic consultant to ensure The Grounds retains the same amount of parking currently available along Deacon Boulevard.
“With additional development coming after Phase 1,” Team said, “we are being very strategic in how we supplement parking in the immediate area to continue to deliver a positive experience for all constituents coming to this area for gamedays, the fair, concerts, etc.”
The Grounds Timeline
- August 2023: Carter and Front Street Capital are awarded the project
- September 2024: The Grounds is announced to the public
- December 2024: Phase 1 groundbreaking
- Summer 2026: Phase 1 of The Grounds opens
- Unknown: Phase 1b of The Grounds begins, which will potentially include a hospitality project
Why It Matters
Having a mixed-use space like The Grounds next to major entertainment venues will boost Winston-Salem’s reputation as an entertainment destination, drawing more out-of-town guests and positively impacting the city’s economy.
“The Grounds represents another key step in the growing momentum in this strategic and critical portion of our city,” said Mayor Allen Joines. “I am excited to see this redevelopment emerge as part of this thriving corridor and as a cornerstone of our city’s future.”
