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S.C. group buys tracts for proposed mixed-use development in western Winston-Salem

S.C. group buys tracts for proposed mixed-use development in western Winston-Salem

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Plans for a potential 34.3-acre multi-use development in western Winston-Salem appear to have moved forward with a South Carolina commercial real-estate company closing on buying three tracts.

The proposed development would be at the intersection of Robinhood Road and Meadowlark Drive, across the street from elements of The Village at Robinhood multi-use development.

The properties of 26.5 acres, 7.4 acres and 0.41 acres were purchased for a combined $2.9 million by West Edge-Adams LLC.

The buyer is an affiliate of Adams Property Group, a real-estate investment and asset management firm based in Charleston, S.C.

Adams officials could not be immediately reached for comment on their plans.

The sellers were JCS Properties North LLC of Apex (26.5-acre tract), William and Susan Loggins, and Billie and Carl Moses, all of Winston-Salem (7.4-acre tract), and Loggins (0.41-acre tract).

A request was submitted Feb. 4 by the property sellers to the City/County Planning Board to change the rezoning of the tract from residential to general business district.

The retail aspect would be anchored by a 51,000-square-foot grocery store, along with a 9,100-square-foot retail space connected to the building, according to a Stimmel Associates site map.

There would be three outparcels of 9,000, 7,200 and 5,800 square feet that could be retail or restaurants.

The project also would feature 222 apartments in seven multi-family residential buildings on the southwest part of the property. There would be 102 single-bedroom, 108 two-bedroom and 12 three-bedroom units.

There would be three 38,100-square-foot residential buildings each containing 30 units, along with two 44,100-square-foot residential buildings each containing 31 units, and two 45,800-square-foot residential buildings, each containing 35 units.

The development would feature a 15,400-square-foot clubhouse.

Planning Board officials said Wednesday that staff submitted on Oct. 30 recommended changes to the development plan.

"The staff change plan shows the most recently approved preliminary plans for development, but the original approved plan includes the conditions of approval — which will apply to the staff change plan," according to staff comments.

"To date, we’ve not received any permit applications for construction."

Ray Collins, with Collins Commercial Properties, cautioned in February that the city/county planning staff is unlikely to give its full support given the amount of unleased space at Village at Robinhood and the large retail component of Brookberry Farm that is yet to be developed to the south.

Brookberry Farm is a 795-acre, high-end development just south of the proposed mixed-use site.

"The availability of competing land and space would add legitimacy to planning staff’s potential argument that no additional commercial land is needed to be rezoned at this quadrant at this time," Collins said.

The Village at Robinhood opened in 2007 with a Harris Teeter grocery store as anchor tenant, along with a BB&T Corp. branch, McDonald's restaurant and Walgreens as outparcels.

It was sold in July 2012 for $15.9 million to investors from Knoxville, Tenn. The campus also features 192 upscale multi-family units developed by Chris Parr of Greensboro.

There are other single-family residential developments in the area.

Adams' initial investment in the Winston-Salem marketplace occurred in September when it paid $4.7 million to purchase the 4.03-acre Summit Station shopping center property at 121 Jonestown Road.

Adams has under construction a Monster Self Storage site at 5109 Robinhood Village.

336-727-7376

@rcraverWSJ

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