The former GMAC towers in downtown Winston-Salem will get a major revitalization. The brokerage CBRE Triad is evaluating developers' offers for the project that could top $50 million.
National General Insurance, which was formerly called GMAC Insurance, moved to the Madison Park office complex in the Winston-Salem suburbs this summer. That absence created a vacancy in the heart of downtown of more than 500,000-square-feet.
According to the Triad Business Journal, the redevelopment spans both the North and South towers, the former Chamber of Commerce building, and the parking deck.
The redevelopment would likely include retail, residential, office and potentially ground-up construction.
This comes at a time when multiple large-scale projects are underway in downtown Winston-Salem. The brokerage says it would like to have a developer selected by the end of the year.
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