Wake Forest and developers Carter and Front Street Capital on Saturday broke ground on "The Grounds" -- Winston-Salem’s newest mixed-use development -- before “more than 100 attendees.” The project, on land “long owned” by the school as home to its athletic facilities and the Winston-Salem Fairgrounds, has “grown in size and scope with a new value of more than” $215M. The estimated $215M cost is a more than 40% increase in the original estimation because “nearly all of the components have increased." Original details called for a Wake Forest office building, a residential community and a retail village with local restaurants and shops. The school will “continue to own the land” and will “lease it to the developers, who will own the vertical construction.” The initial construction is expected to be completed by “end of summer 2026" (TRIAD BUSINESS JOURNAL, 12/7).
Wake Forest breaks ground on development
