The transformation of two former roofing warehouses has resulted in a retail and dining space in south Winston-Salem, North Carolina.
The Walnut + Broad project received a 2024 CoStar Impact Award for redevelopment of the year in Greensboro and Winston-Salem, as judged by real estate professionals familiar with the market.
The 13,000-square-foot space at 905-907 S. Broad St. is anchored by East of Texas, a concept created by local restaurateur Claire Calvin, and surrounded by four local retail businesses.
About the Project: The effort to convert vacant industrial space near Old Salem into a "neighborhood hub" was led by Calvin and Joe Williams of LMI Builder. In addition to being filled by local businesses, the project included space for community events and a renovated 1910 two-bedroom bungalow that serves as a short-term accommodation rental. The $5 million project was awarded historic tax credits. The construction took roughly 10 months.
“This project has truly brought an area back to life and introduced the area to many newcomers that have not visited before,” said Mark Owens, CEO of Greater Winston Salem Inc.
What the Judges Said: Experts praised the project for transforming an "eyesore" into a trendy spot for locals. “High 'cool' factor in a small project,” said Robbie Perkins, shareholder and market president, NAI Piedmont Triad. “This property had been an eyesore for years and was waiting for the right group to reactivate the building. The redevelopment made an immediate impact and continues to bring new visitors to the area,” said Ryan Conboy, senior director at Cushman & Wakefield.
They Made It Happen: Joe Williams of LMI Builders, Michael Steuart of Evergreen Hill Studio, Cindy Christopher of Christopher Commercial and Claire Calvin of East of Texas.