Winston-Salem Development to Transform Wake Forest Area

Winston-Salem Inc.

Winston-Salem officials want the city to become more of a visitor destination for northwest North Carolina, and a big part of that plan involves Wake Forest University. Here’s the latest on a major Winston-Salem development that will help transform the area around the university.

The Grounds Will Be a Major Winston-Salem Development

The Grounds, a 100-acre, mixed-use destination neighborhood in the university’s Deacon Boulevard area, will be an entertainment hub, blending retail, dining, residential and office space. 

The development will be located among venues like Lawrence Joel Veterans Memorial Coliseum, Allegacy Federal Credit Union Stadium, David F. Couch Ballpark, Wake Forest Tennis Center and Winston-Salem Fairgrounds & Arena. 

Along with Wake Forest University, the City of Winston-Salem, Winston-Salem-based development company Front Street Capital and Atlanta-based Carter real estate investment and development firm are involved with the project. 

“This area of town already has more than 750,000 people a year attending events such as Wake Forest sports, concerts, an annual 10-day Carolina Classic Fair and more,” says Adam Parker, vice president of Carter. “Now, Wake Forest and the city want to develop additional acres around the university’s sports venues and the Winston-Salem Fairgrounds.” 

Apartments for Students and Much More

Groundbreaking for the project took place in late 2024. Phase 1 includes a $35 million state grant for infrastructure work such as roadways, burying utilities and installing a pedestrian pathway trail throughout the development. After the infrastructure phase, Parker says vertical construction of buildings will begin around mid-2025. 

“That will involve constructing apartments targeted toward grad students and upperclassmen at Wake Forest,” he says. “In addition, a retail/restaurant village will feature local business tenants that residents of Winston-Salem are familiar with, so no national chains.” 

Parker adds that an office building will be constructed next to the retail/restaurant village. 

“This is an easy area to access with good highway connectivity, and the goal is for this part of Winston- Salem to have 365 days of activity even when Wake Forest sports aren’t happening,” he says. “It’s an exciting project, including for myself. I went to Wake Forest and grew up in Winston-Salem.” 

Wake Forest University President Susan R. Wente says the area will drive even more economic development that will ultimately affect all of Winston-Salem, especially since the district is also adjacent to several already-established residential neighborhoods. 

“We are excited about contributing to the shared vision of a thriving area where people can live, work, play and stay,” Wente says.

“The redevelopment project has wonderful potential to bring people together and contribute to the vibrancy of this part of the city.”