1001

Development


Completed

Q1 / Q2 2027

Client

Cross Street Partners

CSP Role

Co-Developer, Financial Advisory

Contact

Andrew Brasch

Partners

Beta Verde.

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Cross Street Partners, in partnership with Beta Verde LLC, is repurposing The Bahnson Company Building (1001) in Winston-Salem, North Carolina. This 130,000-square-foot building will be transformed into a vibrant mixed-use development aimed at supporting Winston-Salem’s creative ecosystem and fostering healthy food enterprises. The building is located in what was once an industrial area, bordered by the historic Moravian town of Salem, Winston-Salem State University (WSSU)—one of the fastest-growing HBCUs—Salem College, the first women’s college in the country, and the University of North Carolina School of the Arts, which is home to the first public arts conservatory in the United States. It occupies most of a 1.8-acre tax parcel.

 

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The redevelopment of the 1001 building will bring together designers, engineers, artists, growers, makers, distributors, retailers, restaurateurs, and entrepreneurs to foster a culture of open innovation. The proposed activities in the space will include a shared-use commercial kitchen, and an incubator/accelerator program, shared textile labs and studios, a floral warehouse and shop, a virtual reality film studio, a social connection space, retail venues, service areas, event spaces, and community arts and wellness services. This diverse mix of uses is intended to encourage interdisciplinary collaboration, resource sharing, and economic opportunities through workforce training and mentorship, which are particularly needed in the neighboring low-income census tracts and among the student populations at nearby universities.

Despite being continuously occupied, the building has significantly deteriorated over the past few decades and requires substantial rehabilitation to restore it to its former glory. Constructed in 1924, the building was used by The Bahnson Company—once a leading supplier of air handling and HVAC systems—for manufacturing and research and development until 1985. In that year, it was leased by the Winston-Salem Business and Technology Corporation and converted into a business incubator, the first of its kind in North Carolina. Although ownership of the Bahnson Company Building has changed hands multiple times since then and the structure has suffered considerable degradation, it has continued to provide essential services to entrepreneurs and small businesses in Winston-Salem.

The project team is now forming partnerships with local colleges and universities to host training programs within the building. Additionally, restaurant and food production tenants are encouraged to hire graduates from culinary workforce training programs, creating a self-sustaining cycle of success.

 

In The News: 1001

2101 E.Biddle Street, Suite 1201 Baltimore, MD 21213