New Condos & Art Studio space planned for Trade Street in Downtown Winston-Salem!

[Matthew]

Looks like Winston-Salem's popular DADA Arts District and SOHO Alley area are getting a "new construction" condo building with ground floor retail for arts related tennants. The area needs more quality retail and residential space and I do feel bad for the tennants that have to move. The resulting development will bring more people downtown to live and provide better quality retail space to one of the top downtown attractions. The tennants should take the city's relocation offer for 4th Street! That would benefit everyone. I'm excited to see more residential space in this beautiful downtown and in this excellent location! These will be expensive, due to their location.

SOURCE: JournalNow

The city of Winston-Salem's development staff is recommending that a building on Trade Street be torn down and replaced with a three-story commercial building with condominiums on top.

Staff members say that the new construction would benefit the city's arts district.

The city is selling the North Trade Street building, which has 10 rental spaces between 524 and 546 N. Trade St. Developers were asked in July to submit proposals for the property, which is one of six commercial properties that the city is trying to sell.

After meeting with business owners and members of the Downtown Arts District Association, the development staff determined that the best proposal for the building was from the Chapman Company. The city council will consider the proposal Monday night.

The city asked developers interested in buying the building, which needs about $450,000 in repairs, to do one of three things:

• Make the needed repairs and keep rents affordable for arts-related businesses.

• Substantially renovate the building and rent or sell units at a rate equal to or higher than the current market rate for the area.

• Raze the building and redevelop the property.

The city would help the businesses relocated by this development find new sites on Liberty or Fourth streets, said Derwick Paige, the city's economic development director.

The finance committee voted in favor of recommending that the city staff move forward with discussions on the Chapman Company proposal.

Over the next three months , the developer must provide more specifics about its plan and deal with some design concerns, Steelman said.

Victoria Cherrie can be reached at 727-7283

[cityboi]

Great News! I saw that on the news this Morning. I think as long as they find another place downtown for the current businesses on that site, its a great plan for downtown. Residential is key to having a vibrant center-city.

[x.man]

That should be a quiet street to live on traffic-wise. Winston is putting a huge effort into redevelopment.

Interesting story...

I think this is a great thing. i know a few people who already live in the art district.
I just hope it doesn't raise the rent to high for artist that rent studio space in the district.

[yadkinv]

This is off the subject, but not really worth a new thread.

I was flipping around channels tonight, and landed on the Travel Channel where I noticed a spot about Krispy Kreme. The theme was the 10 best treats in the U.S. or something like that. Anyway, Krispy Kreme was number 10, and therefore first.

The relevance is that for a few seconds there was as shot of the W-S skyline, and it was the shot that I recall Matthew indicating as one of his favorites, I think. It is from Green (yuck, I do not like the greens) I40, heading east at about the Broad Street exit.

Pretty neat!

[Matthew]

In Asheville, it's expensive to live downtown! Winston-Salem needs to keep rent/prices down for some of it's apartments, condos, townhouses, etc., in the downtown area! I think it's great to have homes in the upper price range, but also include homes in the lower price range. I think Goler-Depot's rowhouses/apartments are going to be affordable for anyone looking to move into Winston-Salem's downtown. These condos in the arts district could be expensive though.

Broad Street Ridge is my favorite view of the Winston-Salem skyline, but I also like the view of the Winston-Salem skyline from the Saurtown Mountains too! I'll share a picture of the skyline from up there sometime!

[Matthew]

Looks like the city has agreed with the planning board and now we may have a rendering for the new building in the next 120 days! A long wait, but worth it to get more condos downtown. Downtown Winston-Salem is the region's hottest housing market right now and these should sell fast.

Regional Briefs
City OKs talks on destruction of building


JOURNAL STAFF AND WIRE REPORT

Winston-Salem's development department staff will enter into detailed discussions with the Chapman Co. in the next 120 days about plans to tear down a building in the downtown arts district and replace it.

The Winston-Salem City Council voted 7-1 last night to authorize the discussions. Council Member Vernon Robinson voted no.

City development staff members have recommended that the city-owned North Trade Street building between 524 and 546 N. Trade St. be replaced with a three-story commercial building with condos on top.

Business owners who rent the property now would be out of luck. The city wants to sell it, and developers were asked in July to submit proposals.

I would love a location on Trade street! When is this opening! I could walk to work and save bus fare. Trade street is my dream place to be in this city.

[dvstampa]

Myles....if you're interested in living on Trade, contact a guy named Mike Coe. He owns Coe Electric and owns the building that houses Sweet Potatoes and Chelsea's Coffee Shop. There are several apartments being built above those stores and the rent is very reasonable for downtown living.

In fact, you can usually just go into Chelsea's and see the owner...a women named Gena, who can direct you to Mike. He's usually there or upstairs working on the apartments.

I had put a deposit down, but got the gig in Florida. Otherwise, I'd be there right now! Awesome place!!!!