Carter and Front Street Capital Announce "The Grounds"

New Entertainment Destination Coming to Winston-Salem’s Deacon Boulevard Area to Enhance Experience for Residents, Visitors, and Fans

Winston-Salem, NC

Carter and Front Street Capital, in partnership with the City of Winston-Salem and Wake Forest University, announce The Grounds — a transformative 100-acre mixed-use development in the area surrounding some of northwest North Carolina’s iconic major event venues. Seamlessly blending retail, dining, residential, and office in one vibrant community hub, The Grounds will enhance Winston-Salem’s landscape and bolster its reputation as a premier sports and entertainment destination. 

The Grounds will be situated among key venues including the Lawrence Joel Veterans Memorial Coliseum, Allegacy Federal Credit Union Stadium, David F. Couch Ballpark, Wake Forest Tennis Center, and Winston-Salem Fairgrounds & Arena. The Grounds’ amenities will provide new options to enhance the experience for the more than 750,000 patrons who attend events in the area each year. Existing attractions held over 260 event days per year include Wake Forest and ACC sports, the Carolina Classic Fair, Winston-Salem Thunderbirds games, the ATP Winston-Salem Open, and numerous concerts and shows throughout the year.

The Grounds is the evolution of an area with a rich history as the home of storied music clubs on Baity Street, the stage for memorable athletic matchups, and the site of countless world-class concerts and special events. The Grounds will serve as a gathering place to welcome the broader Winston-Salem community year-round with food and beverage options, gathering spaces, activities, walking trails, and a new style of residential living. 

“Today marks a pivotal moment for Winston-Salem as we transform a vision into reality,” said Winston-Salem Mayor Allen Joines. “The plans for this project are more than just renderings and drawings; they are a roadmap to a new era of vibrancy and opportunity for our city. The Grounds represents another key step in the growing momentum in this strategic and critical portion of our city, building on the successful rebirth of Whitaker Park and the expansion of the Senior Services Center. I am excited to see this redevelopment emerge as part of this thriving corridor and as a cornerstone of our city's future.”

“By creating a dynamic place that blends residential, commercial, athletic stadiums, and welcoming public gathering spaces, we are reimagining the University’s role as a community partner,” said Wake Forest University President Dr. Susan R. Wente. “This development will enhance the student experience, attract new talent, and contribute to the city’s overall vitality. We believe The Grounds will create a common ground for all.”

Carter and Front Street Capital will officially break ground on the first phase of the project in December, which will include:

• A pedestrian-friendly retail village featuring a central lawn adjacent to a new Deacon Walk that will serve as a gateway to Allegacy Federal Credit Union Stadium. The more than 40,000 SF village will comprise local and regional chef-driven restaurants, boutique shops with integrated patios, and plentiful outdoor community gathering spaces. Loft-style residential units will be situated above retail buildings, adding density and activity to the central plaza area. 

• A 240-unit Residential Community with elevated amenities, greenspace views, and pedestrian access to the retail village.

• A 100K SF Office Building intended to be leased by Wake Forest University. 

• Infrastructure improvements utilizing a $35 million grant allocated by the State of North Carolina that include road improvements, restoration of Silas Creek, and the construction of a paved, landscaped walking trail that will provide pedestrian connectivity throughout The Grounds and be a unique community amenity.

“For more than 80 years, The Grounds site and surrounding venues have brought together people from around the state and country along with local residents for big Deacon victories, memorable concerts, special events, world-class sports contests or just good food and fellowship. The Grounds represents a new era of year-round fun, elevating our goal of providing the Best Fan Experience in North Carolina,” said Wake Forest Vice President & Director of Athletics John Currie. “Wake Forest and the City of Winston-Salem operate the largest sports and entertainment facilities west of Greensboro and north of Charlotte in the state of North Carolina, and we are proud to partner with Mayor Joines, our Winston-Salem City Council, and our colleagues at Carter and Front Street Capital on this transformational development for the entire community.”

Carter and Front Street Capital bring a nationally recognized track record of building similar, dynamic mixed-use projects both locally and around the country with Front Street Capital’s development of Bailey South in Winston-Salem and Carter’s projects The Banks in Cincinnati and Summerhill in Atlanta. Carter and Front Street Capital selected the national architecture firm Nelson to serve as the project’s architect based on their success leading similar large-scale, mixed-use projects. Nelson recently led the master development of The Battery, the new home of The Atlanta Braves and the nation’s first master-planned mixed-use development anchored by a professional sports stadium. 

“Carter and Front Street Capital are two companies with deep ties to Winston-Salem and we are thrilled to be part of the City’s next chapter,” said Adam Parker, Vice President at Atlanta based Carter. “The support of the City of Winston-Salem, Forsyth County, the State of North Carolina, and Wake Forest University has provided The Grounds a foundation for future success. We have been hard at work for nearly two years fine tuning this plan with stakeholders and are excited to see it come to life.”

“The Grounds has the opportunity to become Winston-Salem and Northwest North Carolina’s living room that is active on event days and non-event days alike,” said Coleman Team, President & Managing Partner of Winston-Salem based Front Street Capital. “750,000+ people already attend diverse and vibrant events at The Grounds annually. That figure, paired with the success of Bailey South and the growth of Downtown, shows that Winston-Salem is ready for a project of this scale.”