Funding Approved For Bailey Plant Development In Winston-Salem

Development in Winston-Salem's Innovation Quarter has just gotten a financial boost. Governing boards for Winston-Salem and Forsyth County have OK'd funding for redeveloping the Bailey Power Plant site.

The city and county boards unanimously approved up to $3 million for the project.

Backers of the project envision transforming the former tobacco factory district into a technology-centered work and residential area that would include restaurants, entertainment venues, offices and labs.

The Winston-Salem Journal reports the Forsyth Board will reimburse developers up to $2 million dollars for public infrastructure improvements, with another $750,000 set aside for future maintenance.

Forsyth commissioners also authorized an agreement to help the city pay for parking decks near development surrounding the BB&T Ballpark, and approved further study into updating the county courthouse.