Innovation Quarter News

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Wexford Science & Technology, LLC today announced a new minority- and women owned business initiative to be located in the Innovation Quarter and run by an independent local non-profit or government agency. The aim of the initiative will be to encourage, support and accelerate local small businesses and start-ups founded by women and minorities.

Under the initiative, Wexford will provide $200,000 in funding support to the chosen organization over a two-year term, in addition to 1,400 to 1,600 square feet of office space inside the Bailey Power Plant. Non-profits and government agencies whose missions align with the goal of supporting minority- and women-owned businesses can apply to lead the initiative.
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Wake Forest Innovation Quarter today announced the projected sale of Building 23-1 (Bailey South) and the Morris Building on the Bailey Power Plant block to Front Street Capital, which will redevelop the buildings into nearly 100,000 square feet of office and retail space.

The new redevelopment project has commitments from over 25,000 square feet of office users who will occupy the building upon completion.

The $25+ million Front Street Capital project is the second stage in the redevelopment of the entire Bailey Power Plant property. Wexford Science & Technology recently completed its $40 million redevelopment of 23-2, the main 110,000+ square foot facility on the Bailey Power Plant block, which opened in February. Multiple office and retail tenants have already moved in and begun operations, with more announced over the last several weeks.

“This is exciting news for the continued evolvement of  Bailey Power Plant and  Innovation Quarter,” said Graydon Pleasants, head of real estate development for the Innovation Quarter. “The Front Street team has shown a unique vision for redeveloping these buildings that compliments the existing Bailey Power Plant and expands the vision for Innovation Quarter.”
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Wake Forest Innovation Quarter and Wexford Science & Technology announced today the addition of Cugino Forno, a family-owned Neapolitan pizzeria and Italian eatery, as the newest tenant in Bailey Power Plant.

Cugino Forno will occupy 5,800 square feet on the first floor of Bailey Power Plant and will feature family-style seating for 150 to 200 people, including outside seating in the former coal pit. The new restaurant will employ approximately 16 full- and part-time employees and is expected to open around the beginning of October.
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Wake Forest Innovation Quarter and Wexford Science & Technology announced today the addition of Incendiary Brewing Co., a new locally owned brewery and taproom as the newest tenant in Bailey Power Plant.

Incendiary will occupy approximately 6,200 square feet on the first floor of Bailey Power Plant, including a 2,000-sq. ft. taproom to showcase an impressive line of IPAs, barrel-aged beers and adjunct/spiced beers to go along with several classic styles. The brewery will occupy another 2,000 square feet of connected outdoor space in of the former power plant coal pit, providing additional seating and an open-air downtown vibe.
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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.
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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.

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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.

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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.

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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.

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