Brand Properties Real Estate Investment Group, based in Atlanta, has announced plans for a large development adjacent to Winston-Salem’s downtown ballpark. Called the Brookstown District at BB&T Ballpark, the proposed development would encompass more than one million square feet, including 300,000 sq. ft. of retail; 300,000 sq. ft. of office space; 250 hotel rooms and 580 luxury residential flats.
The Brookstown District at BB&T Ballpark likely would include a mix of entertainment, lodging residential and retail, including the possibility of a grocery store and restaurants among the mix of tenants.
“From the very beginning, BB&T Ballpark itself was conceived to be part of a much larger project in the Brookstown Avenue and Broad Street area,” Winston-Salem Dash president Geoff Lassiter said. “Brand Properties is a highly respected regional developer and has strong experience with projects similar to the proposed Brookstown District at BB&T Ballpark.”
“The development would be a crown jewel for the ballpark area, downtown Winston-Salem and the entire local community,” he added “We at the Dash couldn’t be more excited to expand the fan experience by adding restaurants, retail and additional residential living surrounding BB&T Ballpark.”
The entire Brookstown District at BB&T Ballpark would be privately owned and would sit on the north and east sides of the ballpark on land that is now largely surface parking. Baseball fans would be able to use the development’s parking decks when attending Dash games and other stadium functions. The deal structure for the development is pending approval of funding for the parking decks by the Winston-Salem City Council and Forsyth County Commissioners.
“The Brookstown District at BB&T Ballpark would fulfill what city leaders envisioned when work on the ballpark started in 2008,” Brand Properties’ CEO R. Brand Morgan said. “We are thrilled with the possibility of building a spectacular development in downtown Winston-Salem and are still working on proposed tenants for the site.”
“We’re early in the planning phase but could break ground as early as later this year on what would be a multi-year construction project,” Morgan added. “Brand Properties is excited about the opportunity to invest in Winston-Salem’s future with a project that would be a significant contributor to job creation, Class A office space, the housing market and local tax base for decades to come.”
About Brand Properties
Brand Properties is a diversified real estate investment company specializing in the acquisition, repositioning and development of office, multi-family, retail and industrial properties.
Founded in 2000, Brand Properties is a privately owned real estate development company that emerged from the banking and financial activities of the Brand Banking Company. Today, both the banking and real estate companies are operated by fifth generation family members.
The company partners with a diverse collection of equity investors to develop or acquire institutional real estate assets across the Southeastern United States. For more information, please visit brandproperties.net.