Description: The Mast General Store Inc. spent $1.92 million to buy the four-story Coe Plaza, the 64,000 square-foot T-shaped property on Trade, Fifth and Cherry streets. Mast will occupy the bottom two floors, while US Development is renovating the top two floors to create 45 apartments with monthly rents starting in the $700 to $800 range. When the Winston-Salem store opens, the new store will be 15,000 to 18,000 square feet of retail space, slightly larger than the Boone location. it will have 35 employees and be the chain’s 10th location. The rest are in the Carolinas and Tennessee.
History: It was the Brown-Rogers-Dixson Building. The building debuted in 1928 and was designed by noted Winston-Salem architect, Hall Crews.
Type: Mixed Use
Units: 45 units with rents ranging from $700 to $800 monthly.
Construction Start: August, 2015
Construction End: Apts-2nd Qtr 2014, Mast Grl Store Spring 2015
General Contractor: Mashburn Construction
Developer: Mast General Store & U.S. Development of Columbia, SC
The developer is targeting professionals between the ages of 20 to 35 who want to live near their downtown job for the apartments. Overall, the retail and residential project is expected to involve a $10 million investment.
The retailer was founded in 1883 in Valle Crucis, near Grandfather Mountain. The trendy store is designed to mimic the feel of an old-fashioned country store and sells such items as candy, outdoor gear and shoes.