The Hub

Innovation Quarter News

Recent Posts

Wexford Science & Technology, LLC today announced the opening of the Bailey Power Plant, a 111,479 square foot historic building redeveloped into innovation, office, entertainment, retail, and congregation space, located in downtown Winston-Salem.

The Bailey Power Plant is the last of the historic buildings to be redeveloped by Wexford within the Wake Forest Innovation Quarter and culminates the largest historic redevelopment project in the history of North Carolina, now totaling over 1.1 million square feet.

The 19-month project cost approximately $40 million and encompassed the adaptive reuse of the five-story main power plant structure as well as additional outdoor communal space to complement the active and popular Bailey Park.

“The Bailey Power Plant supplies vibrant amenities, engaging innovation spaces, and collaborative gathering places that are important to a growing Knowledge Community such as the Wake Forest Innovation Quarter, ” said Will Partin, senior director of development, Wexford Science & Technology.

Several tenants have already moved into their spaces, including CML Microsystems and Alma Mexicana, a new restaurant located at the corner of Fifth Street and Patterson Avenue. Other previously announced tenants, including Wake Forest Innovations, will move in over the next couple of months.

The second floor features “Turbine Hall,” a grand, two-level communal area and associated conference rooms which will host innovation, networking, and community events, including Thursday Night Gatherings of Venture Café Winston-Salem. The second floor also contains a series of small office suites, with flexible terms, targeted to start-up and growth stage companies.

In addition to site improvements along the historic elevated rail line west of the building, workers also refurbished the iconic 130-foot smokestacks that grace Winston-Salem’s skyline; fitting them with color-changing LED lights.

With the opening of Bailey Power Plant and Wexford’s redevelopment efforts over the past 8 years, Wake Forest Innovation Quarter is now home to the largest historic redevelopment project in the history of the state of North Carolina, according to Preservation NC, a statewide non-profit dedicated to historic preservation.

“The opening of Bailey Power Plant represents a historic moment not only for the Innovation Quarter, but for Winston-Salem,” said Wake Forest Innovation Quarter president Eric Tomlinson. “We are delighted at the public-private partnership fostered between Wake Forest Baptist Medical Center, Wexford, the city of Winston-Salem and Forsyth County that has made what was once a dream now a reality.”

Wake Forest Innovation Quarter, Wexford Science & Technology and local restaurateur Claire Calvin today announced a new restaurant to be opened in the redeveloped Bailey Power Plant in January 2018.

Alma Mexicana will be an urban, modern iteration of Winston-Salem’s laid-back Tex-Mex spot The Porch, which opened in West End Mill Works in 2014. With a lunch menu featuring favorites such as rice bowls, tacos and salads, plus many new items, Alma Mexicana will provide fresh, fast counter service to the busy downtown lunch crowd.

Continue reading

Global tech company Sunrise Technologies announced today it is moving to 525@vine in Wake Forest Innovation Quarter. Currently occupying more than 6,000 sq. ft. in Victoria Hall, Sunrise Technologies will expand to 11,600 sq. ft., in the space formerly occupied by Flywheel Coworking, which moved to the Center for Design Innovation in the south district of the Innovation Quarter in February 2017.

Continue reading

Venture Café today announced the expansion of its global network of weekly innovation and entrepreneurial gatherings to Winston-Salem in early 2017 in Wake Forest Innovation Quarter.

The growth of Venture Café builds on the success of its founding member, the Venture Café Foundation in Boston, Massachusetts which operates District Hall in Boston – the world’s first civic innovation center. Venture Café Winston-Salem will become part of a rapidly expanding global network that includes locations also in St. Louis, Missouri; Miami, Florida; and Rotterdam, The Netherlands.

Continue reading

Complex will comprise 340+ residential units, 850+ parking spaces and 5,000 square feet of retail space

Wake Forest Innovation Quarter—part of Wake Forest Baptist Medical Center—and Grubb Properties today announced an agreement for Grubb Properties to develop a new property in the Innovation Quarter in Winston-Salem comprised of 340+ apartment units, approximately 5,000 square feet of retail space and a parking deck with 850+ spaces.

Continue reading

A new history series presented by New Winston Museum, Reynolda House, Triad Cultural Arts and Wake Forest Innovation Quarter will explore the history of the former downtown tobacco district, the people who worked there and the impact it had on many aspects of life including the development of downtown Winston-Salem.

Continue reading

Wake Forest Innovation Quarter today announced the sale of portions of Bailey Power Plant to Wexford Science+Technology, a BioMed Realty company. Wexford will redevelop approximately two-thirds of the Bailey Power Plant property, including the main building and most of the surrounding grounds that include the iconic chimney stacks.

Continue reading

Dioko Ventures, in partnership with Nashville, TN based venture capital firm, FCA Venture Partners, announced this week the launch of its’ first fund, Dioko Health Ventures I, LP. The Fund is seeking to raise $25 million to invest in companies primarily in and around Western North Carolina and the Triad.

Dioko will be managed and supported by FCA and led by Matthew King, Managing Partner of FCA. Accompanying King, FCA’s Co-Managing Partner, John Burch, and CFO, Nancy Allen, will provide fund oversight and administrative support. The investment committee for the Fund will be led by King, together with Tom Hearn, CEO of Novarus Healthcare, and Todd Johnson, co-founder and Board member with KeraNetics, LLC. Dioko will work closely with Inmar, Inc., Wake Forest Innovation Quarter, local universities, academic medical centers, and accelerators to help foster, grow and fund the local healthcare entrepreneurial ecosystem.

Continue reading