757 North Apartments in D.T. Winston-Salem

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The newest apartment community (shown below in preconstruction renderings & final product) in Downtown Winston-Salem has opened near the Innovation Quarter.  The developer Goler Community Development Corporation and Laurel Street Residential LLC asked for the City's participation in the project in the form of a $325,000 grant and a $1.25 million loan to develop the 115-unit apartment complex on land in between Martin Luther King Jr. Drive, Chestnut Street and Patterson Avenue with the intent of incorporating affordable housing as part of the downtown apartment inventory. The city money came from voter-approved bonds.The development  consists of 14 studio apartments, 83 one-bedroom apartments and 18 two-bedroom apartments. A quarter of the units — 29 apartments — would be set aside for people who make no more than 80 percent of area median household income.

The market-rate units will rent for $1,045 to $1,445 per month, while the “affordable” units would go for $757 to $841 per month. The total cost of the complex would be about $15 million, including the city help.