The vibe of the 9-to-5 hustle in Wake Forest is about to look a lot less like four bland office walls and a lot more like opportunity.
On Tuesday, February 18, the Town of Wake Forest Board of Commissioners unanimously approved a request for funding from the Wake Forest Business & Industry Partnership (WFBIP) to enter into a prepaid lease with Loading Dock - Wake Forest that will catalyze a $3 million revitalization project in the heart of the community’s historic downtown. Located at 525 S White Street, this significant warehouse space has remained largely unused over the past several years. In partnership with the WFBIP and the owners of the property, Loading Dock - Wake Forest is projected to transform some 24,000 square feet of leasable area into a two-story coworking and business incubator space, complete with a street-facing multi-vendor food hall and event venue.
“I haven’t quite found a way to adequately express what all this project means for Downtown Wake Forest, the future of work in Wake Forest, or the powerful message that it sends to the rest of the region about the progressive, innovative, wildly pro-business culture of our community,” said Jason Cannon, President of the Wake Forest Business & Industry Partnership (WFBIP).
Loading Dock is a rapidly expanding “shared workspace for the creative, freelancer, entrepreneur, and remote professional.” Operated under the belief that where you work and who you work with is vitally important to the work you do, Loading Dock functions to create a workspace focused around community and unencumbered by the challenges of office space.
“Wake Forest is an incredible location for a Loading Dock coworking and collaborative workspace,” said Clark Rinehart, Director of Community at Loading Dock Raleigh. “There is an established community of seasoned entrepreneurs and a desire in Town to see an entrepreneurial mindset flourish across industries. My hope is that Loading Dock - Wake Forest will literally and metaphorically set the table for more and more entrepreneurs in northern Wake County to participate in the growth of our region.”
With an expected opening date in Q2 of 2021, Loading Dock - Wake Forest is poised to create 125-150 new jobs in the downtown Renaissance District, which will in turn spur on new economic opportunity for the many other businesses located in the heart of the community.
“This project is a success story for downtown growth and further downtown development. Not only is it a major win for the heart of Wake Forest, but it is a testament to the power of innovative regional partnerships,” said Cannon. Without the support of outside individuals and organizations — like Benchmark Community Bank who provided a significant source of financing for the development along with the unrelenting cooperation and support of the private property owners, Bob and Elizabeth Johnson — Cannon says, Loading Dock - Wake Forest simply would not be possible.
One of the chief goals of the Town of Wake Forest is strategic economic development. For nearly two years, the WFBIP has worked alongside community and regional partners to develop impactful resources and opportunities for Wake Forest’s blossoming entrepreneurial ecosystem. At the forefront of the WFBIP’s strategy has been the development of a tech-focused business incubator space where start-ups and entrepreneurs can gather, cross-pollinate, thrive, and grow in a well-connected location that provides a dynamic work atmosphere. From the onset of the project, a number of community and regional partners have stood firmly in favor of the project, many claiming a shared responsibility for the development of entrepreneurs in such a space.
“Based on the success of our RIoT economic development initiative at similar incubators in Raleigh and other communities through the region, we are excited about the potential opportunities that the proposed space will facilitate for our Wake Forest community,” said Dr. Gerard Hayes, CEO and Founder of the Wireless Research Center located in Wake Forest. After supporting three consecutive incubator programs through the WRC’s RIoT Accelerator Program (funded through a grant from the U.S. Economic Development Administration), Hayes sees Loading Dock - Wake Forest as an ideal venue through which to host similar programs in Downtown Wake Forest.
In light of additional projects underway through the Wake Forest Business & Industry Partnership, this community — one of the fastest growing in the state — boasts tremendous potential for the future of living, working, and playing. Through the multiple development initiatives currently in process, the future of Wake Forest is one that promises not just an enhanced quality of life, but a community shaping work opportunities that will impact the Town for years to come. To discover more about the dynamic, progressive story of living and working in Wake Forest, visit discoverwakeforest.org.
