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Deacon Boulevard will be transformed into a 100-acre mixed-use development known as “The Grounds.”
This news comes a year after Wake Forest University announced that it had selected Carter and Front Street Capital to redevelop the property.
Updated September 8, 2025
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 includes:
- A pedestrian-friendly, 40,000 square-foot retail village with a central lawn, local and regional chef-driven restaurants, boutique shops, outdoor community gathering spaces, and residential condos for sale above the retail spaces
- Creekside at The Grounds, an apartment complex featuring 229 units for rent with views of the greenspace and pedestrian access to the retail village
- Infrastructure improvements such as 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
- A 100,000 square-foot office building Wake Forest will lease out
- Deacon Walk, which will lead to Allegacy Stadium
Where Will The Grounds Be?
The Grounds will occupy 100 acres around Deacon Boulevard. The area was 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.
What About Parking?
Coleman Team, president of Front Street Capital, said their 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.”
What is the Timeline for The Grounds?
Front Street Capital broke ground on the development project in November 2024. Phase 1 of The Grounds is projected to open in early Summer 2027.
The next phase of the project, called Phase 1b, 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.”
