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Wake Forest Innovation Quarter


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Construction is well underway on Building 60, which will house the Wake medical school.  Renovation of this structure, along with BioTech Place, 525@Vine, and the Inmar building puts the investment at over $600 million by the university and Wexford in the east end of downtown, not including what is happening at the Bailey park. :good:

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Richard Craver/Winston-Salem Journal reports:

Wake Forest Innovation Quarter was recognized Tuesday as among the nation’s best examples of historic rehabilitation projects for 2014 by the National Trust for Historic Preservation and the National Trust Community Investment Corp. The groups said their awards “highlight exemplary” historic rehabilitation projects that utilized the federal historic tax credit to revitalize America’s cities and small towns. The project winners represent “outstanding examples of how the historic tax credit can drive economic development and community revitalization.”

The downtown Winston-Salem research park was recognized foremost for the $103 million Plant 90 renovation project that redeveloped three former R.J. Reynolds Tobacco Co. warehouses into a mixed-use facility of 473,900 square feet. The campus includes the headquarters for Inmar Inc., as well as several office, retail and research laboratory space. The project used state and federal historic tax credits and new markets tax credits to help finance the devel-opment.

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Another reason McCrory is and should be trying to reinstate tax credits for development in North Carolina.  Lets hope the other clowns will vote yes after seeing that it has spawned over $600 million in investment in the east end of downtown Winston-Salem.

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Richard Craver/Winston-Salem Journal

The appeal of new space and enhanced collaboration is leading Mullen to move its Winston-Salem office and 150 employees across downtown and into Wake Forest Innovation Quarter by December. Mullen, a full-service marketing and communication firm, will occupy 34,726 square feet on the third floor of the 525@Vine building that is adjacent to Inmar Inc.’s headquarters and Wake Forest BioTech Place.

 Mullen becomes the largest non-Wake Forest University tenant in 525@Vine. “We want to continue to be recognized among the most creative and innovative agencies in the world, and moving into the Innovation Quarter is an example of that commitment,” Taylor Bryant, president of Mullen NC, said in a statement.

This is an amazing opportunity for us to achieve two key goals: design an office space that really fuels collaboration and creativity; and continue our investment in the creative culture of Winston-Salem.” Mullen said it will gain in its new space a variety of designed collaboration spaces and open meeting rooms, along with a custom-designed photo studio, a sound studio and three state-of-the-art edit suites for post-production work for broadcast television and web content.

“Mullen’s move into the Innovation Quarter is a significant development,” said Eric Tomlinson, president of the research park. “Not only is Mullen a nationally recognized, award-winning agency with some of the world’s most recognized brands as clients, but it represents a dynamic and creative culture that will have a tremendous impact on the entire Innovation Quarter.”

The 230,000-square-foot building will be 89 percent occupied after Mullen completes its move. Chad Campbell, a research park spokesman, said there is 13,000 square feet available on the second floor and 9,000 square feet on the first floor. Other occupants of 525@Vine are Wake Forest School of Medicine’s Division of Public Health Sciences and Department of Physician Assistant Studies, Forsyth Technical Community College, Flywheel, Clinical Ink and the Innovation Quarter YMCA.
 

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Looks like the east end of downtown and the IQ is the hip place to be for the creative minds in the Triad.  Not only artists and scientists, but now the creative class in marketing and advertising.  They may wish that the Center for Design and Innovation was a little closer and not in the South District.

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Winston-­Salem has been named a Startup Grind city, joining a global network of cities working to fuel innovation, economic growth and prosperity at the local level.  Flywheel, a coworking innovation space in the Wake Forest Innovation Quarter, applied on behalf of Winston‐Salem and will be hosting Startup Grind events for the city and region beginning mid­‐May. Founded in 2010, Startup Grind is a global startup community designed to educate, inspire, and connect entrepreneurs. In more than 150 cities and 65 countries around the world, chapters host monthly Startup Grind events where local founders, innovators, educators and investors share their own success stories.

 

“The selection process is very rigorous,” said Peter Marsh, cofounder of Flywheel. “We had to prove the vibrancy of our startup ecosystem and that we could execute compelling events with successful entrepreneurs on a regular basis.” The ratio of cities accepted versus total applications is around one in ten.   Marsh will be a co-director of Startup Grind Winston­‐Salem, along with Flywheel Community Manager Jennifer Berg.

Startup Grind is also a major initiative of Google for Entrepreneurs, extending the network of relationships even deeper into the global tech community.  “Just as important as the events is the fact that Startup Grind has an unbelievable communication network through their project management platform,” Marsh said. “Now we can connect Flywheel members with the highest level of angel and venture firms, successful founders and domain experts.”

 

Startup Grind founder and CEO Derek Andersen said Google For Entrepreneurs will help Startup Grind expand internationally by providing access to distribution, Google technology and financial support.

“In the future, you will not need to be in Silicon Valley to be taken seriously as a tech startup,” Andersen said. “I just see so many places with such a high caliber of entrepreneurs.” Andersen said the monthly “fireside chat” interviews with local entrepreneurs are Startup Grind’s specialty. “We’re world­‐class at that one thing.”

 

Startup Grind is a perfect fit for Flywheel’s mission and vision for entrepreneurship in the Wake Forest Innovation Quarter. “Very few for­‐profit coworking operators have a direct link to a multimillion-dollar commercialization enterprise right outside their door in the form of Wake Forest Innovations,” said Brad Bennett, another Flywheel cofounder. “This just expands the opportunities to connect.” The Wake Forest Innovation Quarter is one of the fastest growing urban-­based research parks in the United States, with a master plan for as much as 6 million square feet of world‐class office, laboratory and mixed­‐used space over its 145 developable acres.

 

The first Startup Grind event is scheduled for mid‐May. Events will be posted each month on the Flywheel website.


Source: http://flywheelcoworking.com/startupgrind/

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Here's a great New York Times article on the happenings in the Innovation Quarter and the importance of tax credits to that effort. A nice gallery of pictures from the park also accompany the story. The overwhelming positive press nationally has really been gratifying for everyone involved with the development efforts in the Camel City :thumbsup: 

http://www.nytimes.com/2015/04/29/realestate/commercial/technology-overtakes-tobacco-in-winston-salem-nc.html#

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In one of the more prominent collaborations among tenants in the IQ, this program shows great promise in engendering further positive growth for the research park & the greater downtown area.

Targeting the fast-growing area of digital health, retail technology firm Inmar Inc. has teamed with downtown Winston-Salem co-working space Flywheel for a $25,000 business idea challenge that could launch the next big health app, or change how doctors leverage data to care for patients. Inmar Digital Health Challenge powered by Flywheel will run from April 30 to July 20, with five finalists then competing for the prize money and future funding opportunities. It is open nationally, but with an emphasis on the area between Wash, D.C. & Atlanta.   The partnership between Inmar and Flywheel is thanks in large part to proximity — Inmar's headquarters neighbors Flywheel within downtown Winston-Salem's Wake Forest Innovation Quarter.  "There's been an ongoing partnership, along with Inmar's desire to continue to bring business ideas to life," Bennett said.


http://www.bizjournals.com/triad/news/2015/05/04/inmar-flywheel-launch-25-000-digital-health.html?page=all

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Wake Forest Baptist Medical Center’s internationally accredited nurse anesthesia program will move to 525@vine in Wake Forest Innovation Quarter this summer.  (Courtesy of WFIQ news release)

 

The addition of these students & faculty further enhances the "Downtown University District" aspect of the research park which has been on a sustained growth mode over the last couple of years. 

The longest continually running nurse anesthesia program in North Carolina will move 55 faculty, staff and students from its present location at the Medical Center’s main campus to the second floor of 525@vine. The move is expected to take place in July. The program will join two other School of Medicine programs that are already located at 525@vine. The Division of Public Health Sciences (PHS) and Department of Physician Assistant Studies (PA Studies) became some of the first tenants when the building opened in June last year.

“Our nurse anesthesia program is the first in the country to be accredited internationally,” said Edward Abraham, M.D., dean of Wake Forest School of Medicine. “This move allows the program to continue to excel as a leader in nurse anesthesia education by placing faculty and students in a collaborative space with other School of Medicine programs and offering today’s students state-of-the-art technology and learning spaces.”  The program will expand from 4,440 square feet of space at its current location to 11,000 square feet of new learning space at 525@vine.

“Being next to the PHS and PA Studies programs opens the door for collaborative and inter-professional activities that were not available to us before,” said Michael Rieker, D.N.P., C.R.N.A., program director of Nurse Anesthesia. “We have a reputation as a top-quality program, and that will continue to advance with the help of the up-to-date learning, skills and simulation labs, collaborative classrooms and distance learning capabilities the new space provides.”  The two-year Nurse Anesthesia program consists of 48 students with 24 students in each year’s class. Wake Forest School of Medicine confers the Master of Science in Nurse Anesthesia degree upon graduates of the program. Graduates become certified registered nurse anesthetists (CRNAs) and are prepared to plan, administer and manage anesthetic care to a wide range of patients and in diverse settings.  The program that started in 1942 also offers a certificate in Global Health through collaboration with the School of Medicine.

The move of the Nurse Anesthesia program to 525@vine this summer means all School of Medicine educational programs will be located in Wake Forest Innovation Quarter by July 2016 when the medical education building being built from renovating and refurbishing part of the former 60 series R.J. Reynolds Tobacco Company complex opens adjacent to 525@vine.

“The addition of the Nurse Anesthesia program to the Innovation Quarter will be another boost to this expanding downtown climate,” said Eric Tomlinson, D.Sc., Ph.D., chief innovation officer, Wake Forest Baptist Medical Center, and president, Wake Forest Innovation Quarter. “Together with the impending move of the School of Medicine beginning in July 2016 when the medical education building opens, the Innovation Quarter proves to be one of the fastest growing urban-based districts for innovation in science, business and education in the United States.”

Ninety-four percent of 525@vine will be leased with the arrival of the Nurse Anesthesia program. Other 525@vine tenants include: The Innovation Quarter YMCA of Northwest North Carolina; Flywheel, a co-working innovation space; Forsyth Tech at Innovation Quarter; and the headquarters of Clinical Ink, a provider of electronic data-capturing technology for clinical research. Mullen, a full-service marketing communications firm announced in January it would move in, December 2015.

Edited by zalo
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According to Eric Tomlinson of Wake Forest Innovation Quarter, a big announcement is forthcoming about more development and the recruitment of a major player for the district.  An announcement is expected on the conversion of the Bailey Power Plant into mixed use.  I hope there is an IMAX or something similar in the mix.

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Here's a very good article from the WS Journal regarding the Wake Forest Innovation Quarter. The amount of growth in this district over the last half decade is nothing short of phenomenal. The investment is approaching a half a billion dollars. There is a large informative map that outlines the various buildings and associated tenants in them. The Northern district is almost completed and the focus will increasingly turn to the Central district where efforts will be focused on recruiting new companies to Winston-Salem.



http://www.journalnow.com/news/local/wake-forest-innovation-quarter-transformation-still-taking-place-in-buildings/article_db85bf94-fc3a-11e4-b102-a7d5d9ea34ae.html

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More encouraging innovation coming from Winston's downtown research/university district, where collaboration between faculty & students are producing some great results. Anticipating this is one of many more to come. :shades: Here are highlights from the article:
 

A collaboration between a Wake Forest Baptist Medical Center doctor and students at Forsyth Technical Community College has produced a patent-pending device designed to help train providers for high-risk pregnancy procedures. The device was invented by Dr. Joshua Nitsche, assistant professor of maternal-fetal medicine at Wake Forest Baptist, as a way to help providers develop hand-eye coordination and other skills. More specifically, it allows them to practice invasive procedures involved in assessing and managing high-risk pregnancies.
 

He built his prototype using materials from a home-improvement store, and then took the invention to Wake Forest Innovations, the arm of the medical center dedicated to commercializing research and inventions developed by researchers and staff. That led to a partnership with the mechanical engineering technology program at Forsyth Tech, with work by students beginning last fall that led to the production of three professional-grade ultrasound-guided invasive procedure trainers in February.  David Dinkins, an instructor in the Forsyth Tech program, said he's looking forward to further collaborations with Wake Forest Baptist. By interacting with professionals to develop an actual product they learned lessons beyond what they would normally get in the classroom,"

 

http://www.bizjournals.com/triad/news/2015/05/21/collaboration-between-wake-forest-baptist-forsyth.html

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Great lead story on the "IQ" from today's W-S Journal. Here are some excerpts from the article.
 

 Innovation Quarter currently has more than 3,000 people working there — scientists, engineers and other professionals — about 50 companies, and more than 20 academic departments, including Wake Forest Baptist Medical Center and Forsyth Technical Community College departments. Between Aug. 1, 2014, and May 31, 2015, Forsyth Tech conducted 4,462 total training sessions there. In and around the district, there are about 600 apartments and lofts.
 
 
Officials at Innovation Quarter are in the final stages of developing and finalizing a proposed master plan — a concept — for the second phase of the northern area, formerly the central area, of the district. This is the property between Third Street and Business 40 that is bounded on the east by U.S. 52 and on the west by Patterson Avenue.  “We think that it’s best as mixed-use — residential, retail and the headquarters of high-tech companies,” Tomlinson said.  The master plan calls for about 2.4 million square feet of new building space at a cost of about $750 million.  “We see that developing over the next 10 to 15 years,” Tomlinson said. “It will be able to accommodate several thousand workers and likely workers that would come into the city or jobs that will be created within the city.” 

 

 Wake Forest Baptist, which will eventually move more than half of its basic science research program to Innovation Quarter, is trying to leverage the Wake Forest brand in some cases while still making the innovation district “a welcoming community that’s not restricted to a single academic institution,”  Overall investment in the project is expected to reach $670 million by the end of 2016.

 

Innovation Quarter is all about connections, network and collaboration.  For example, Forsyth Tech, a Wake Forest Baptist physician and Wake Forest Innovations recently collaborated to produce a new medical training device.  Dr. Joshua Nitsche, an assistant professor of maternal-fetal medicine at Wake Forest Baptist, invented an ultrasound-guided invasive procedure trainer for use in maternal-fetal medicine. The device was designed and built by mechanical engineering technology and computer-integrated machining students at Forsyth Tech. The ultrasound-needle guide trainer is currently available for licensing through Wake Forest Innovations.
 
 
 
http://www.journalnow.com/news/innovation-quarter/challenges-loom-in-winston-salem-innovation-quarter-s-future/article_c63c3b14-6f3d-5786-8ba0-17211411c176.html

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Here's some awesome news coming from the IQ. :shades:  Winston-Salem's over 20 year blueprint for the re-calibration of the Camel City's economy is really gaining critical mass. One that will bear fruit not just for the City but the larger Triad region as well.

 

 

This summer, Flywheel co-working space in Winston-Salem will feature a week-long Startup Boot Camp, a new initiative of Durham's The Startup Factory.

The Startup Factory, a seed investor and mentoring program that was started four years ago, is launching a statewide program of the boot camps, and will kick it off in Winston-Salem Aug. 3-7.  "Our expansion plans will substantially raise the profile of the state's entrepreneurial scene, placing us in the top echelon of startup states," said Chris Heivly, managing director of The Startup Factory.

 

The Startup Factory has invested a total of $3.5 million in 35 companies, most of which were located in North Carolina and the remainder of which have since made a move to North Carolina.  Working with Flywheel and its partners, The Startup Factory team will bring its experience in starting, scaling and coaching early-stage companies to the boot camp.

"This boot camp gives Triad region startups the chance to get in the room for a week with the most successful accelerator in the Southeast," said Peter Marsh, a Flywheel founder. "It's a door-opening opportunity."  Interested companies can apply through July 12 for limited spots in the boot camp by visiting www.thestartupfactory.co/bootcamp.

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Wake Forest University will have a presence within Innovation Quarter in former R.J. Reynolds Tobacco Co. space now being renovated. Wexford is renovating space in the 60 series building, adjacent to the planned home of the Wake Forest School of Medicine, to accommodate classrooms and laboratories for undergraduate science programs.  The university announced Wednesday that it will lease space to accommodate programs catering to a student population of up to 350 within the research park, with the first students beginning class work and research in the building in 2017.  Our interest in Wake Forest Innovation Quarter allows us to explore fully the intersection of arts and science, scholarship and entrepreneurship, and tradition and innovation," said Wake Forest President Nathan Hatch.  “An undergraduate presence in (the) Wake Forest Innovation Quarter would add to the growing synergy among the city’s academic institutions, while supporting intellectual collaboration, research opportunities and community engagement,” Hatch said. The Innovation Quarter comprises more than 2.5 million square feet of office, laboratory and educational space on its 145 acres.

The park is a project of Wake Forest Baptist Medical Center, with former RJR buildings in the northern end being developed by Wexford Science + Technology.  So far, buildings have been redeveloped to create laboratory and research space in Wake Forest Biotech Place, a headquarters for retail technology firm Inmar Inc., and 525@vine, which includes a variety of education and business tenants.  Wexford is currently working on what are referred to as the "60 series" buildings, with the majority of that space set to become a new hub for the Wake Forest School of Medicine.  Wake Forest University will take space on the southern end of the "60 series" building in January 2017, with space for up to 350 students by 2021.  Wake Forest Innovation Quarter President Eric Tomlinson said the vision for the park is to create "a robust knowledge community" with Wake Forest University adding to that with its future presence in the park.  "The addition of progressive undergraduate programs from Wake Forest University alongside the various scientific and clinical graduate programs already here very much contributes to that vision," Tomlinson said. "And we are excited to partner with the university in this endeavor.”   Planning is still underway as to what offerings Wake Forest will have within Innovation Quarter and the logistics required to expand its campus with a presence there. More details should come early next year.

Mayor Allen Joines said he was pleased to learn about WFU's plans.  "It will continue to create a strong energy and vibrancy in the Innovation Quarter," Joines said. "It is great to have the extension of the (university's) Reynolda campus. It is certainly good news for the school and for downtown.".

The Innovation Quarter has more than 3,000 people working there, who are scientists, engineers and other professionals. It also has about 50 companies and more than 20 academic departments, including Wake Forest Baptist Medical Center and Forsyth Technical Community College departments. In and around the district, there are about 600 apartments and lofts.

Per the WSJ/TBJ

 

 

 

 

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Strong progress toward reaching the Wake Will campaign goal for the Innovation Quarter & the Medical School.:D
 
Two multimillion-dollar gifts to support the construction of Wake Forest School of Medicine's new home within Innovation Quarter announced this week have pushed fundraising for the project above the $7 million markThe medical school received an anonymous gift of $3.5 million as well as a gift from BB&T Corp., the size of which was not disclosed. The two gifts push the total raised to-date to $7.3 million.  Cantey Alexander, Triad regional president for BB&T, said the bank is proud to support the medical center. "We are delighted this campaign has reached a significant fundraising milestone and are confident they will reach their goal," Alexander said.
 
Work is now underway on creating a new $100 million home for the medical school within former R.J. Reynolds manufacturing buildings in Wake Forest Innovation Quarter.  To be called the Bowman Gray Center for Medical Education, the center will become the new hub for the medical school, which is now located adjacent to Wake Forest Baptist Medical Center's main campus, once it is complete this summer.  The contributions to the medical school are part of a broader $350 million fundraising effort the medical center is undertaking.
 
Since October, when the effort entered its public phase, it has generated an additional $10 million in contributions to hit the $222 million mark, with the goal of raising $350 million by the end of 2018.
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Nice article from this month's Our State magazine. Only one minor quibble. The Reynolds family did not donate the buildings in the IQ. That would be the RJ Reynolds/American corporation who have been an outstanding corporate citizen in so many ways for Camel City.

 

https://www.ourstate.com/wake-forest-innovation-quarter/

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37 minutes ago, zalo said:

Nice article from this month's Our State magazine. Only one minor quibble. The Reynolds family did not donate the buildings in the IQ. That would be the RJ Reynolds/American corporation who have been an outstanding corporate citizen in so many ways for Camel City.

 

https://www.ourstate.com/wake-forest-innovation-quarter/

Thanks for all your updates on growth in Winston-Salem "Zalo"...especially updates on the Innovation Quarter and the surrounding downtown area.  I actually use to work in downtown Winston-Salem back in the mid to late 90's and remembered this area as just SOOO desolate.  I was astounded recently when I saw all of the additions and renovations occurring in this part of Winston-Salem.  Keep updating us on developments on the Twin City!

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My pleasure rancenc. It really is quite a phenomenal transformation of the Central Business District of a mid-sized city. From the Innovation Quarter in the east end of downtown  to the Brookstown District developing around the Dash Ballpark in the west and several projects in between, DTWS really is becoming the heart beat for the entire city.  Hope you can come back around and check out all what's happening.

This photo is of the newest phase of Bailey Park in the research park district. It should be finished later this summer. That park has really come alive with so much activity from yoga classes, food trucks, concerts and such. With the expected start of the Power Plant renovations into retail/office options on the westside of the park and the completion of the School of Medicine in the newly christened Bowman Gray Building on the east side of the park, this spot will really become ground central of the WFIQ. 

 

 

 

 

 

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Wake Forest announces new undergraduate academic programs that will be  based in the WFIQ. They will be among the university’s first undergraduate classes in the Innovation Quarter.  The university’s downtown presence is called Wake Downtown and will start in January 2017.  Wake Downtown will have space on the south side of the 60-series building at 455 Vine St.  The facility will be adjacent to the future home of The Bowman Gray Center for Medical Education of the Wake Forest School of Medicine, which will be on the north side of the building. 60s North is expected to be completed in July. Michele Gillespie, dean of Wake Forest College, said the new programs of Wake Downtown “represent the most significant academic innovation in recent Wake Forest history and one of the most audacious efforts to rethink undergraduate science education as we know it. Embracing the Innovation Quarter as a hub for a liberal arts education is central to our future.” These initial programs are lab-intensive academic programs.

*B.S. in Engineering – Optional biomedical and materials engineering emphases in a liberal arts environment of entrepreneurial and critical thinking. Classes in the engineering program are expected to begin in fall 2017.

*B.S. in Biochemistry and Molecular Biology – Jointly administered by the Chemistry and Biology departments, the aim of this interdisciplinary degree is to enable students to develop a conceptual understanding of and build practical skills to address increasingly complex biological, biochemical and biomedical challenges. Undergraduate research opportunities will be available for students in WFU labs and those of several medical school departments already in the Innovation Quarter. Classes will begin in January 2017.

*Concentration in Medicinal Chemistry and Drug Discovery – A medicinal chemistry concentration within the Department of Chemistry. The concentration is expected to provide a new path to an American Chemical Society certified B.S. degree aimed at attracting students interested in health-related fields, biomedical sciences and pharmacology. Classes will begin in January 2017.

President Nathan Hatch called the university’s move, its most dramatic in terms of programs for undergraduates in modern times, saying that the addition of engineering and biomedical sciences will attract another set of students.  He said that the main distinctness of the programs is the fact that “it will be our regular science faculty but also medical school faculty.”  About 350 undergraduates are expected to study downtown by 2021, when new programs are fully operational. Wake Forest also plans to hire additional faculty and staff.

Wake Provost Rogan Kersh said there are few “universities where you see medical school faculty and undergraduate faculty together shaping academic programs and in the classroom together.”  Kersh expects undergraduate students in these programs to spend about equal time on WFU’s main campus — studying arts, humanities and basic sciences — and in the new biomedical sciences and engineering classrooms and labs downtown.  Initially, shuttles are expected to run every 10 or 15 minutes from 7 a.m. to midnight between downtown and the Reynolda campus. Kersh said that Wake Downtown will also enable expanded undergraduate offerings in entrepreneurship, bioethics, public health policy and the humanities.  He said that students who have been in the Innovation Quarter are excited about the prospects of being around start-up businesses at Flywheel and larger firms such as Inmar.  “One of the most exciting aspects of Wake Forest’s undergraduate presence in the Innovation Quarter is the potential to collaborate with the greater Winston-Salem community, our shared City of Arts and Innovation,” said Kersh.  He said that Wake Downtown will contribute to the knowledge economy and growing job base in the Innovation Quarter and there are plans for it to become a partner on community projects, such as public arts and volunteer opportunities.

 

Hatch believes that the continued transformation of the Innovation Quarter area is helping to make Winston-Salem “a more dynamic city that will be much more attractive for high-tech firms” because of the talent there, the programs from the medical school and the programs that WFU will offer there.

 

Wake Downtown will occupy space in the building to the right.

wake downtown

 

http://www.journalnow.com/news/local/wfu-to-offer-biomedical-sciences-and-engineering-programs-at-the/article_0c95d29f-544e-57e9-b2b1-3121398096fc.html?mode=story

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As one transformative project reaches an conclusion (Reynolds Tower conversion to the luxury Kimpton Cardinal Hotel & Residences at the RJ Reynolds Bldg,) another one begins with the start of construction on the Bailey Power Plant.  I was pleasantly surprised at how they were able to incorporate the new construction onto the iconic structure. It looks on the rendering to be almost seemless.  The officials involved in this project, had indicated during their presentation to City Council back at the end of '15 regarding City incentives for the project,  that they were in final discussions with tenants for approximately 50% of the space and they should have leases signed by the end of the 1st Qtr. 

There has been strong talk that Empire Eats, a restaurant development company that was a large part of Downtown Raleigh's early rejuvenation a decade ago has committed to  Building 23-1, the two story concrete building on the SW corner of the complex http://www.empireeats.com/   Early word has them opening another location of their upscale BBQ restaurant "The Pit."  Personally, I would rather have an operation along the lines of the Raleigh Times. But anything will be welcomed with open arms, I'm sure.

 Per the WSJ:

110,800 square feet of new office, entertainment and retail space in what is called Building 23-2 — the five-story main structure of the plant. “We’re in the process of speaking with prospective tenants right now, so there could be a wide variety of different types of companies locating in the power plant,” said Will Partin, senior project manager of development for Wexford, a BioMed Realty company.  Wexford bought about two-thirds of the plant, which ceased operations about 20 years ago, for an undisclosed amount. The deal includes most of the plant’s surrounding grounds, including its iconic chimney stacks. Wexford also plans to develop outdoor communal spaces aimed at complementing the adjacent Bailey Park on Patterson Avenue. Wexford expects to begin construction this spring. Portions of the main building are expected to be occupied late in the summer of 2017, while the entire main building and surrounding grounds will be completed by December 2017.  Overall, Wexford’s investment in the Innovation Quarter, including its plans for the Bailey Power Plant, stands at about $390 million.

Partin said he expects the design phase of the project to be completed soon.  He said that the number of tenants in the building will be determined by how much space tenants, including possibly restaurants, decide to take.  “Innovation Quarter has thousands of people a day down here and we want to make sure that the amenities are provided so that they can enjoy the space, not only while they work but (also) after work and on the weekend,”     He said he believes that having the project next to Bailey Park with all its amenities and activities “will provide a lot of opportunities both for the residents at Innovation Quarter, for the employees who work in Innovation Quarter and also for the greater community who comes down to enjoy the space.”

 

“This is exciting news, not just for Wake Forest Innovation Quarter but for the city as a whole,” Winston-Salem Mayor Allen Joines said. “Redevelopment of the Bailey Power Plant will give Innovation Quarter a key amenity that will bring more employers, more jobs and more economic development to Winston-Salem.”

 

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