Front Street Developing $250M Winston-Salem Mixed-Use Project

Front Street Capital, along with Carter, is developing The Grounds, a $250 million project in Winston-Salem. The Triad Business Journal reports that the group is building a mixed-use project that includes retail and student housing, with the possibility of restaurants and a hotel in the future. The developers are expecting to complete the project’s first phase in August 2027.

The 42,000-square-foot retail village will have 12 retail units across five buildings, with the buildings ranging from one to four stories. The three- and four-story buildings will have 22 for-sale condo units above the retail.

The developers are nearing completion of a Wake Forest 229-unit student housing complex, Creekside at The Grounds, in April. 

Front Street Capital and Carter purchased the Best Western Plus at 3050 University Parkway in April for $8.75 million. The developers closed the property at the beginning of June to evaluate the site for future redevelopment opportunities such as restaurants, a grocery store and/or a hotel.