Tuesday night Jason Cannon, head of the town’s economic development department and president of the Wake Forest Business & Industrial Partnership, laid out the ways in which Wake Forest has been continuing to attract industry and business despite the COVID-19 pandemic.
The Loading Dock incubator is purchasing the former Holding Cotton Company office and warehouse on South White Street and plans to open in late summer 2021 after extensive renovations. “We’re very excited about that,” Cannon said, because its impact could be 436 new jobs in Wake County and the Triangle, 147 of them in Wake Forest. He estimates the incubator will have an annual impact of $182 million in the county, and most of it will be in Wake Forest.
Just north of the Loading Dock, Powerhouse Row, a combination of 18 apartments with first-floor retail, is complete. Cannon said seven of the apartments are leased and the first commercial tenant, PlantCakes Bake Shop, a vegan bakery, plans to open in October. The Powerhouse owners are “in talks with a restaurant.”
One of the largest developments in town is planned for 213 acres owned by Southeastern Baptist Theological Seminary between its campus and Capital Boulevard. It is proposed as a Live-WORK-Play development with housing, businesses and industries with active and passive recreation. One of two certifications for the development, from ElectriCities, has been completed and the state certification is nearly done. But, Cannon said, the town and seminary have paused further development to wait and see what the future holds for homes and business after the pandemic passes.
The ongoing studies about the future of the former SunTrust Bank site on Elm Avenue have also been paused.
But other private enterprises are going ahead. Cannon said the Capital Business Park being developed by Merritt Properties is scheduled to break ground for its first spec building this fall. The park is adjacent to South Forest Industrial Park and plans seven buildings. It will have a connection to South Forest and to Ligon Mill Road.
Moffat Properties has a new building at Finger Lakes Drive that is filled with tenants. The property has a CSX approved rail site.
Cannon said he is in talks with Gerald Hayes, president of the Wireless Research Center of North Carolina, about several initiatives and plans. One is the Equitable Economic Development Wake County which identifies growth areas across the county; Wake Forest has several sites including North White Street and the South Forest Business Park area. Another is LAUNCH Wake Forest, working with the Wake Forest Area Chamber of Commerce to guide entrepreneurs and minority business owners to help them to succeed. Another is a wide topic that covers everything from 3-D drone mapping to conceptual animation to autonomous vehicles in the air and on the ground.
Cannon said the commissioners and town/area residents can find out more at the website, www.discoverwakeforest.
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3 Responses
Carol, Thank you for your cover note sharing the origins and history of the Indepence Day celebration in Wake Forest. I appreciate the energetic contribution of the “newcomers” Ms. Ali and Ms. Stenzel, and of Bonnie Johnson, and all the families & children (including ours) who rode decorated bicycles and strollers down North Main Street.
Did the wireless center ever pay back their loan in full?
Every development in the article are great for Wake Forest. I am worried about the effect of COVIS on existing small businesses in Wake Forest, especially things like restaurants, gyms, and other businesses where people gather. Many have been kept afloat with government money which will soon end. These small businesses are the strength of Wake Forest, and I am afraid we will lose some of them. Good luck to all small businesses.