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Historic Shaffner House sold for $1.2 million. Plans are to add restaurant, give it 'boutique inn' feel.
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Historic Shaffner House sold for $1.2 million. Plans are to add restaurant, give it 'boutique inn' feel.

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Shaffner House

The Henry F. Shaffner House, at 150 S. Marshall St., was built in 1907 for Henry Shaffner, a co-founder of Wachovia Loan and Trust, and sits on the edge of Salem Parkway.

The historic Henry F. Shaffner events and bed-and-breakfast property in downtown Winston-Salem has been purchased by a local group led by Lou Baldwin.

The 114-year-old facility principally serves as an events and conference center that also happens to boast nine uniquely Winston-Salem and Forsyth Count-themed guest rooms, according to a January 2014 profile in Winston-Salem Monthly, a sister publication of the Journal.

According to a Forsyth County Register of Deeds filing Tuesday, BK4th LLC paid $1.2 million for the 0.55-acre site at 150 S. Marshall St.

Baldwin, president of Baldwin Properties, is a managing partner of BK4th, along with Dr. Eric Alspaugh of Alspaugh Properties and Cory Pignone.

The seller is Sunset Holdings LLC, associated with long-time property owners Betty and Henry Falls Jr.

Baldwin said Tuesday the ownership gained a lease to run the four-story property in April. Baldwin said Betty Falls will serve as a consultant.

Baldwin said remodeling is underway, with plans to add a restaurant open to the public in the first quarter to give the residence more of a “boutique inn” atmosphere.

The house typically is operated like a traditional B&B during big-event weekends, such as college graduations.

Other events commonly held at the property include birthday parties, anniversary dinners, corporate groups and lots of weddings.

Couples also rent the entire house for a weekend and hold everything from the rehearsal dinner, wedding and wedding reception. During that time, some wedding guests get to stay in the guest rooms.

Companies affiliated with Baldwin and Alspaugh bought two other historic downtown bed-and-breakfast inns in June 2019 through Summit Properties LLC.

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Summit paid a combined $1.1 million for the 1887 Jacob Lott Ludlow House at 420 Summit St. and the 1895 Benjamin Joseph Sheppard House at 434 Summit St. They are about one mile from the Shaffner House.

The Ludlow house was added to the National Register of Historic Places in 1983.

Baldwin said the plans to open the Summit Street Inn property in the first quarter of 2022.

“We have plans to make the three properties complementary to each other, such as offering additional guest rooms to parties too large for just the Shaffner House to serve,” Baldwin said.

In February 2019, another company led by Alspaugh and Baldwin, Grace Park at the West End LLC, paid $1.7 million to acquire the Grace Court Office Park, an assemblage of eight historic homes and buildings in the West End Historic Overlay District.

Shaffner’s history

This Queen Anne-style house was built in 1907-09 as the residence of Henry Fries Shaffner, a co-founder of the Wachovia Loan and Trust Co. and one of the first aldermen for the combined Winston-Salem.

After Shaffner died in 1941, family members lived in the house until 1948. The residence would become an American Legion Post and a boarding house before being abandoned and falling into disrepair.

It stayed that way until the Fallses purchased the property in September 1990.

The couple spent two years renovating and restoring the Victorian mansion, transforming it into a bed and breakfast that opened in September 1992.

The property was transferred by the Fallses to Sunset Holdings in July 2007. The house closed in 2009 to renovate the banquet facilities, reopening in April 2011.

The house’s nine guest rooms all have names associated with Winston-Salem, including The Reynolda, The Wachovia, The Piedmont and The Salem.




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