757 North apartment complex celebrates grand opening
Photo by Tevin Stinson
757 North, the city’s newest apartment community on the corner of North Chestnut Street and North Martin Luther King Jr. Drive, is officially open.
During the grand opening celebration on Thursday, June 8, Mayor Allen Joines and other elected officials spoke highly of the new apartment complex, which cost more than $14 million to build.
“The city is delighted that we were able to provide $1.25 million to help make this project work,” continued Joines. “More importantly, those dollars came from a bond issue that was approved by the voters of this city in 2014, which called for affordable working housing in this community.”
Derwin Montgomery, representative for the East Ward, said, “Today really is a great day in Winston-Salem.” Montgomery is part owner of The Chronicle.
Laurel Street, a mixed-income residential development company, partnered with Goler Community Development Corporation to ensure units are affordable at 757 North. The apartment community offers one-bedroom and two-bedroom units with rents ranging from $1,095 to $1,600 per month. Of the 115 units, 25 percent will be reserved for households with incomes at 80 percent or less of the area median income (AMI) and will have rents ranging from $740 to $850 per month.
Dionne Nelson, principal of Laurel Street, said in a city that has seen growth like Winston-Salem, it is important to make housing available to everyone, and that was its goal for 757 North.
She said, “In a downtown corridor that is changing rapidly, it is important to think early and hard about how to make housing available for working professionals with moderate incomes. We are proud that we have been able to do that.”
Along with easy access to Wake Forest Innovation Quarter and the fun and excitement of downtown, 757 North also features a fitness center, WiFi cafe with 24/7 coffee bar, indoor game room, outdoor patio with grills and a large conference room. The first residents are expected to move in by July 1.
For more information, visit www.757northapartments.com.
