The Winston‑Salem City Council voted 8‑0 on November 2 to adopt a revised housing plan for the Ram’s Pointe development at 310 Martin Luther King Jr. Drive. The council also approved the continued use of $400,000 in city financing and extended the project’s completion deadline to December 31, 2029.
Project details
MTB3 Properties will replace a previously approved apartment‑and‑retail project with 11 for‑sale townhomes and two retail bays. Two of the townhomes will be set aside for households earning no more than 80 % of the area median family income, providing a pathway to homeownership for low‑income families.
The development, estimated at about $4.61 million, is expected to add both housing and commercial space to historic East Winston. The city’s assistance will be structured as a 20‑year, interest‑only loan at a 2 % rate, with the $400,000 released in two equal installments tied to construction milestones and certificates of occupancy.
Council deliberations
The General Government Committee split 2‑2 on the proposal on October 12 and forwarded it without a recommendation. Council members Regina Hall and Vivián V. Joiner supported the committee motion, while Denise D. Adams and Barbara Hanes Burke opposed it. At the full council meeting, all four voted in favor of the revised plan. Joiner moved for approval and Hall seconded.
East Ward council member Annette Scippio praised the project for expanding homeownership and business activity in East Winston. Burke, who grew up near the site, noted that a conversation with the Bakers helped her understand the proposal better. Hall highlighted backing from the Affordable Housing Coalition and letters from a contractor and lender, while cautioning that future extensions might not receive the same level of support.
Mayor pro tem Adams supported the shift to homeownership and the deadline extension, requesting monthly reports on stalled city‑supported projects so the council can address problems early.
Financing and implementation
Housing Development Director Michael Blair explained that the city’s assistance is a loan, and a new contract will detail how the funds may be used and when they must be repaid. The resolution ties disbursements to construction milestones and occupancy certificates. The developers have engaged True Homes and secured a line of credit from Blue Harbor Bank.
Earlier financing packages envisioned 30 apartments and six retail units in 2021, later revised to 24‑28 apartments. The shift to townhomes reflects rising construction costs, including a 20 % increase in material prices in July 2021 and a 45 % rise in the BLS construction‑materials index from December 2019 to September 2026.
Affordability safeguards
The Affordable Housing Coalition recommended a 15‑year affordability protection period, annual monitoring, and resale requirements for the two income‑restricted homes. If those homes remain unsold six months after receiving certificates of occupancy, the resolution allows them to become income‑restricted rentals.
Rezoning remains a pending step; the council will need to review and approve any required changes after community engagement. Developers are also in talks with nearby property owners about overflow parking.
Context
The council endorsed the East End Master Plan in November 2018, which calls for mixed‑income housing, local business ownership, and stronger connections to downtown, the Innovation Quarter, and Winston‑Salem State University. Ram’s Pointe aligns with that vision by combining residential and commercial space along the Martin Luther King Jr. Drive corridor.
Overall, the council’s unanimous vote signals strong local support for expanding homeownership opportunities and revitalizing East Winston while maintaining fiscal responsibility through a low‑interest loan structure.
Original reporting: Winston-Salem Chronicle — read the source article.
