Town purchasing SunTrust block
With a simple statement Tuesday night, Town Manager Kip Padgett announced a major step by the Town of Wake Forest. It is purchasing the SunTrust bank building and land for $1.5 million. “And closing costs,” he added. Mayor Vivian Jones said the town is making the purchase “to take care of our downtown.” After Commissioner Brian Pate noted that the building and block along Elm Avenue, a short block between South White Street and Brooks Street, is “a key piece in the development of downtown,” Jones added, “We will work with a developer to do something really nice for this property.” The town is expected to close on the purchase in May. The mayor responded to a question – “Are you thinking that the SunTrust block could become, with the Powerhouse project, the beginning of the Renaissance Plan vision of buildings with retail on the first floor, living spaces above?”