Creekside Breaks Ground: First Residential Project of The Grounds Moves Forward

Carter and Front Street Capital are pleased to announce the groundbreaking of Creekside at The Grounds — a new purpose-built student apartment community and the first vertical development within the highly anticipated mixed-use district known as The Grounds.

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Creekside at The Grounds will offer students direct access to Wake Forest University and The Grounds’ retail village via a newly constructed multi-use path.

Centrally located within the 100-acre development overlooking the newly restored Silas Creek, Creekside at The Grounds marks a significant milestone in the transformation of Winston-Salem's sports and entertainment district, directly adjacent to Wake Forest University. The project represents the first new vertical construction in a dynamic master plan that will blend public amenities, residential, retail, office, and hospitality to create a walkable, year-round community. Since its announcement last year, The Grounds has continued to grow in scale and vision; Creekside now symbolizes the first major step in turning that vision into reality.

Creekside: Intentionally Designed Student Living

Creekside will feature a 229-unit, 521-bed fully furnished residential community tailored for upperclassmen and graduate students. The project will offer:

• Fully furnished units with each bedroom having a private bathroom
• Multiple floor plan options all with high-end, modern finishes
• Clubhouse with study rooms and fitness center
• Outdoor swimming pool, kitchen, and entertainment area
• Direct frontage of the newly remediated Silas Creek and newly constructed multi-use path connecting to The Grounds retail village and Wake Forest University

"This is the first of several transformative projects that will define the future of The Grounds," said Adam Parker, Senior Vice President at Carter. "With Creekside, we're delivering an unprecedented residential experience in Winston-Salem, designed to meet student needs while anchoring this sports and entertainment mixed-use community."

With demand for high-quality, off-campus student housing continuing to grow, Creekside fills a distinct need in the market, providing a lifestyle-focused student apartment option adjacent to Wake Forest’s campus and Winston-Salem’s premier event venues, all within the vibrant, dynamic new setting of The Grounds. Creekside also directly connects to the larger trail system and infrastructure improvements currently underway at The Grounds, promoting a walkable, pedestrian-friendly environment that enhances connectivity and supports community living.

"Creekside is unlike anything else in our market. It represents a bold first step for the residential vision of The Grounds, offering students walkable access to everything from football games and concerts to trails and retail to campus and class," added Coleman Team, President and Managing Partner of Front Street Capital. "We’re proud to launch this next step of development with a project that directly supports and connects Wake Forest students and the broader Winston-Salem community."

Construction of Creekside is underway, with initial sitework and grading beginning this week for a Fall 2027 delivery. The project was designed by The Preston Partnership and is being built by Brasfield & Gorrie. Stimmel Associates is the engineer of record. Carter and Front Street Capital’s financial partners on Creekside are Kayne Anderson Real Estate, a national leader in alternative investments, and Truist Financial Corporation, a top-ten commercial bank, which underscores the project's strong market fundamentals and long-term growth potential. Creekside anchors a Phase One vision now exceeding $215 million in planned investment. Additional projects within Phase One of The Grounds, including an office building and retail village, are in design and scheduled to break ground in early 2026.

For more information and to follow along on updates, visit creeksideatthegrounds.com and visitthegrounds.com.

About The Grounds

The Grounds is a transformative 100-acre mixed-use development, led by Atlanta-based Carter and Winston-Salem’s Front Street Capital, in partnership with Wake Forest University and the City of Winston-Salem. The Grounds will be a vibrant hub for Winston-Salem and the Triad region, featuring a pedestrian-friendly retail village, modern residential living, class-A office space, robust infrastructure support, and more. Located near the LJVM Coliseum, Allegacy Stadium, David F. Couch Ballpark, Wake Forest Tennis Center, and the Winston-Salem Fairgrounds, The Grounds aims to drive substantial economic growth in Winston-Salem, bolster the city’s status as a leading destination for tourism, sports, and entertainment, and be a vibrant setting for locals and visitors alike to play, work, and thrive. For more information, see VisitTheGrounds.com.

About Carter

Carter is a privately held real estate investment and development company headquartered in Atlanta, Georgia. Since 1958, Carter has delivered transformative mixed-use and residential projects across the United States, with a focus on thoughtful design, strategic partnerships, and community-centered development. Known for landmark developments such as The Grounds in Winston-Salem, NC; Summerhill in Atlanta, GA; The Banks in Cincinnati, OH; City Springs in Sandy Springs, GA; and The DeSOTA in Sarasota, FL, Carter combines decades of experience with a relationship-driven approach that delivers lasting value. Carter’s purpose is to make a difference by transforming communities and spaces so people can thrive. In July 2025, Carter announced that Hunt Companies, headquartered in El Paso, TX, had acquired a controlling interest in the company - a strategic investment designed to enhance both organizations’ leadership in student housing and Higher Education Public Private Partnership (P3) initiatives.

About Front Street Capital

Front Street Capital is a full-service real estate investment and development firm led by industry-leading, values-driven professionals, headquartered in Winston-Salem, North Carolina. Its development and private equity track record includes income-producing Class-A properties across the office, industrial, healthcare, and mixed-use asset classes, with over $1 billion developed or acquired in its 40-year history and currently with more than 4.5 million square feet of property under management. Beyond bricks and mortar, Front Street prioritizes and fosters strong relationships, evident in a proven track record of growth and success over four decades. Committed to enriching communities, Front Street leverages its expertise to create high-quality projects that serve residents, businesses, and investors.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $18 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $38 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $544 billion as of June 30, 2025. Truist Bank, Member FDIC. Learn more at Truist.com.

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"With Creekside, we're delivering an unprecedented residential experience in Winston-Salem, designed to meet student needs while anchoring this sports and entertainment mixed-use community."