Former retirement home site in Winston-Salem to develop new townhouses, apartments and duplexes.


Residents’ view of the proposed Towne Lake Commons development in southeast Winston-Salem offers a flowing meadow, a 4-acre pond attractive to waterfowl, and the promise of townhouses, apartments, and of mostly new duplexes.

This is a different view for 2900 Reynolds Park Road.

It was the site of a controversial nursing home closed in June 2015 by state health inspectors after finding multiple rule violations, including a “love nest” in the woods.

In February 2020, Mebane’s TRG Capital LLC paid $2.1 million for three properties on the site.

Developer Frank Ascott of Mebane’s TRG Capital LLC said last week that his group was preparing for the construction of phase one of the project and negotiating with the city/county planning board over the composition of phase two.

Although a final capital investment has not been determined, Ascott said it is likely to be in the range of $25 million and will represent the group’s largest residential development.

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The first phase aims to provide up to 291 multi-family units on 12 acres with the first residences available in 2024.

These units are marketed to people aged 55 and over who are looking to downsize and want little or no yard maintenance.

Phase two could include townhouses for sale or rent on the remaining 30 acres.

If the phase two site plan is accepted by city officials, he said some of these three-bedroom, three- to three-bathroom units could be available for sale in the fall of 2023.

“We expect this to be a 3 to 3 and a half year project,” Ascott said.

Ascott said he thinks having a gated community with a dog park, a management group providing maintenance services and a homeowners association would prove appealing to landlords and renters looking of stability.

“Our goal is to create a community where it’s affordable, well run, safe and where people want to come home to,” Ascott said.

“It’s also going to be our demographics, whether they’re young, old… we’ll have something for everyone.”

Ascott said the pond “will be a big selling point, especially for those who like to watch the water from their window.”

“We are going to create a path with benches, a belvedere, picnic areas. There are plans for a café, and we still have a lot of projects going on. »

Previous use

Integrity Assisted Living and the Cornerstone Living Center, which contained 121 beds, operated at the address for nearly five years.

Inspectors said the center posed “a danger to the health, safety and well-being of residents” and that urgent action was needed for their protection. These residents were transferred to other nursing facilities.

State investigators found that some staff members weren’t even checking to see if patients were in the building, or where they had been if they weren’t on site.

Residents – some with sexually transmitted diseases – routinely left the center to have unprotected sex, officials said. Residents were visiting a “love nest” of dirty mattresses lying in woods near the building, amid beer bottles and trash.

A resident was hit by a car, and on another occasion a resident attempted suicide while absent without papers.

Ascott sighed last week when the notoriety of the nursing home’s past was brought up.

“The use of the property can sometimes have a negative tone, but there’s nothing negative about the property as a whole,” Ascott said.

“We believe that we breathe life into the property.

“We are asking the community to take a look at the scenic beauty that is near downtown, near highways and highways, and judge for themselves what value is going to be found. here.”


TRG purchased the 42.5 acres off Reynolds Park Road from the estate of William Beam, other family members and Willow Cove Properties LLC.

The Willow Cove parcel was the largest of the three land deals, involving 36.5 acres at what was listed at 0 Willow Cove Drive. It contains 16 duplexes, a four-unit building and a single-family home, according to real estate

The other properties are: a 4.71 acre lot at 2900 Reynolds Park with a 47,000 square foot building; and a 1.27 acre lot at 2940 Reynolds Park Road. The retirement home was the occupant of the building which was built in the 1980s.

Ascott said after discussing the possibilities of renovating the building, the decision was made to demolish it to make way for multi-family buildings. The demolition, which required asbestos abatement, was recently completed.

Ascott said it was “a difficult decision” to demolish the nursing home building.

“We could have remodeled the building, but we still had an older building,” Ascott said. “It just didn’t fit our plans for multi-family units and maximizing land use.

“It was better for us to have a fresh start, to start over with new energy with all the new people coming in.”

Building plans

The first phase includes plans for six three-storey and three four-storey residential units, two facing Reynolds Park Road and the remainder around a service road roundabout.

The price of rental units should be between $1,200 and $1,400 per month.

These apartments would be in the slightly higher range for rentals in Winston-Salem, according to’s latest report published on Wednesday.

The average monthly rent for a studio is $1,102, as well as $970 for a one-bedroom, $1,141 for a two-bedroom and $1,554 for a three-bedroom. said 48% of apartments in Winston-Salem rent between $1,501 and $2,100 per month, along with 29% in the $1,001-$1,500 range, 17% in the $2,101+ range , 11% in the range of $701 to $1,100 and 1% in the range of $501 to $700.

Frank Ascott, managing member of TRG Capital, and Erin Nelson, real estate agent at Keller Williams, stand in the kitchen of a soon-to-be-released condo in Towne Lake Commons. TRG Capital purchased the site of the former Cornerstone Living Center at 2900 Reynolds Park Road to redevelop the area.

Allison Lee Isley photos, Diary

The nearest apartment market to Reynolds Park Road measured by is downtown, which averages $1,548 per month for a one-bedroom unit. The most expensive is the West End Village market at $1,850 for a bedroom.

Although many of these units are marketed primarily to individuals and couples aged 55 and over, Ascott and Nelson said they are “wide open demographically.”

Redevelopment of TRG Capital Reynolds Park Rd

The Towne Lake Commons condominiums are part of the redevelopment project.

Allison Lee Isley, Diary

Duplex, townhouses

The development will have up to 22 townhouses in the 1,100-1,200 square foot range available by the end of the year, some within 30 days, said Erin Nelson, who is marketing the property for the group. Southern Roots by Keller Williams Realty Elite.

Two-bedroom, two-bathroom duplex residences will cost between $225,000 and $250,000. It is expected that some of the phase two townhouses will be in a similar price range.

Ascott said his group plans to work with some current residents of the duplex to help them buy their homes if they have the financial means or find an apartment to rent.

“Some of them (townhouses) have been gutted with new drywall, and pretty much everything is new,” Nelson said.

Duplex residences also appear to be in the middle of the price range for such homes, according to the latest Winston-Salem Regional Association of Realtors released Sept. 14.

The second quarter report covers the following postal codes: 27012, 27023, 27040, 27050, 27051, 27101, 27103, 27104, 27105, 27106, 27127 and 27284.

The average selling price increased 22.2% in the second quarter to $238,340, while it increased 17.8% in the first half to $233,504.

The number of days a townhouse and condo were listed for sale before being sold fell from 27 to 11 days in the second quarter, and from 29 to 15 days in the first half.

Reynolds Park Road Nursing Home

The closed Cornerstone Living Center at 2900 Reynolds Park Road is seen on May 2. The buildings on the site are being demolished in mid-September to make way for future development.

Walt Unks, Diary

Piece of the puzzle

Winston-Salem Mayor Allen Joines said the city approved Phase 1 in part because it was strategic land near downtown, Lake Salem and the University of Washington. Winston-Salem State.

“The addition of housing units should contribute to our goal of 750 new or rehabilitated units per year,” Joines said.

In a May opinion piece in the Journal, Joines discussed his 2022 State of the City Address boasting that “several major apartment projects have been completed (in downtown) and five other projects are in class”.

“Affordable housing is a pressing need for many, including police officers, teachers, firefighters, store clerks and others,” Joines said.

“On my recommendation, our city council set a goal of creating 750 affordable housing units per year for 10 years and identified $40 million to start with.

“But that won’t be enough,” Joines warned. “Experts tell us that we will need 15,000 new units over the next eight years.”

Joines said poverty is closely linked to the need for affordable housing.

“Currently, one in five – 20% – of our residents live in poverty,” Joines said. “It’s too high. But it is down from 26% several years ago.

Ascott said the Towne Lake Commons project appealed to his group because of the potential for creating a diverse multi-family community.

“We don’t see life in black and white, or about race, but rather in individuals and people trying to achieve and improve their lives,” Ascott said.

“We want to develop one of the best communities in Winston-Salem with the appeal of being close to so many things while having outdoor appeal and hopefully making a profit along the way.”


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