It’s hard to believe that five years have now passed since COVID-19 cast a shroud of uncertainty over our economy and community. But true to the adage “what doesn’t kill us makes us stronger,” Wake Forest is again firing on all cylinders – welcoming new residents, growing good jobs, and shaping a more resilient future. That is certainly the case for the Town’s economic development horizon as new business investment, infrastructure, and amenities articulate our future. In no particular order, here are seven developments to watch in 2025.

Wake Forest Exchange: Baltimore-based St. Johns Properties is breaking ground on the first of a multi-phase vision for 166,729 sq.-ft. of Class A space for local retailers, offices, R&D operations, and other flex uses. Dubbed Wake Forest Exchange, the new 30-acre development sits along Star Road east of Capital Boulevard.

St. Johns, a prestigious national real estate company founded in 1971, selected Wake Forest for its first-ever development venture in North Carolina. The firm has been grading and prepping the land for construction and hopes to “go vertical” by March. Delivery of its initial spec building is expected by late 2025, and St. Johns is already talking to potential tenants that include tech firms, medical practices, local retailers including food concepts, and indoor recreation businesses.

Wake Forest Exchange will be an asset for our small-business community, especially local retailers and eateries looking for visibility from well-traveled Capital Boulevard.

535 Warehouse: Late 2024 witnessed the first arrivals in Atlas Stark’s newly renovated Welsh Building (pictured) in Downtown Wake Forest. Pure Barre Wake Forest and MassageLuXe brought prominent wellness and fitness franchises to the community. Both are operated by local husband-and-wife entrepreneurs. Mosaic Pediatric Therapy, a multi-state provider of specialty services for children with autism, will soon occupy 7,000-sq.-ft. in the one-time furniture warehouse. Upfitting will soon be complete for two other businesses at the vintage 1962 industrial building: Cardinal Bar, a popular drinking, hot dog, and music venue; and Lil Hombre, which will bring its “smoked” tacos and hand-crafted margaritas to the property at 535 S. White Street.

Raleigh-based Atlas Stark, a go-to name for adaptive real estate reuse in the Triangle, worked meticulously for the past two years on the 1.75-acre property, which has convenient access to The Loading Dock Wake Forest, the Northern Wake Senior Center, and other downtown amenities.

Grove 98: It’s been almost four years since Wegman’s opened its destination grocery store at the intersection of Ligon Mill Road and Dr. Calvin Jones Highway. Today, the popular retailer anchors the ambitious Grove 98, which has become a destination for national dining brands and service businesses.

As 2025 begins, Phase III of Grove 98 has seen and will soon see the opening of a wide range of new eateries. Among them are Five Guys, Dave’s Hot Chicken, BIBIBOP Asian Grill, and Piada Italian Street Food, all growing food concepts that have identified Wake Forest as part of their national expansion strategy. Personal care providers will also be cutting ribbons there soon, including VIO Med Spa, Lee Spa Nails, and The NOW, a Los Angeles-based provider of massage therapy, sound baths, and other wellness services.

O2 Fitness Clubs is expected to open the doors of its latest “signature” location at Grove 98 in January. Members of the Raleigh-based gym chain will have a 20,000-sq.-ft. space for cardio workouts, strength training, mind-body fitness classes, physical therapy, and more. Also part of Phase III, which sits in the northeast quadrant of Grove 98, will be an Outback Steakhouse. The popular Australia-themed restaurant should be serving hungry diners by fall, according to Stiles Corporation, the Florida-based developer of Grove 98.

Wake Forest Food Hall: The northern end of downtown Wake Forest is set for an exciting year as the launch of the much-anticipated Downtown Wake Forest Food Hall comes to completion this summer. Alliance Group NC has been redeveloping the former S&W Chevrolet dealership near the intersection of East Roosevelt Avenue and North White Street since 2022. The 80-year-old building will attract workers, residents, and visitors for breakfast, lunch, dinner, and everything in between.

An eclectic array of local and regional food concepts will make the 16,000-sq.-ft. food hall unique among northern Wake County dining destinations. Adding more appeal will be 2.5 acres of planned green space behind the building that will accommodate private events, concerts, and informal gatherings of families and friends. Alliance Group, led by longtime Wake Forest resident Jacob Anderson, is collaborating with Stanley Martin Homes, which is completing a 110-unit condominium complex, Magnolia Trace, along the North White Street side of the block. Along with the food hall, the four-story condos, which range from 1,500- to 2,500-sq.-ft., will further catalyze Wake Forest’s reputation as a live-work-play destination.

Wilkinson Building/Hatch Loft: Just a few steps from the food hall, renovation efforts are nearing completion at the historic Wilkinson Building, which is set to continue as a dining spot and add co-working office space on its upper levels. Bob Johnson, a well-known Wake Forest entrepreneur and downtown property owner, is working to restore the 13,000-sq.-ft. building, whose storied past dates to the late 19th century and includes use as student housing, doctors’ offices, and a movie theater. Soon to re-open there will be Las Margaritas, a popular Mexican eatery that shut down temporarily in 2023 to accommodate the renovation. The Burger Shop of Wake Forest, home of some of the region’s tastiest made-to-order burgers and hand-cut fries, closed briefly for remodeling but has re-opened. So, too, has the Soup & Salad Shop, a downtown option for those seeking lighter fare.

Upper floors of The Wilkinson Building will open as business space. Johnson is launching Hatch Loft, which will complement his existing Hatch Office – Wake Forest across the street. Demand for co-working space was building prior to the pandemic. But as the dust settles on the work-from-anywhere trend, Hatch Loft is filling a need Johnson sees for more in-person workplace interaction on the part of often isolated home-based workers. Johnson should know – his expertise was key in attracting the Loading Dock Wake Forest, a buzzing co-working hive at the other end of White Street.

UNC Health Rex: As evidenced by WakeMed’s recent opening of their impressive 82,000 square foot facility adjacent to Grove 98, medical and allied health amenities are both an economic engine and business development driver for communities. The community is poised to get more of both as UNC Health moves to build a new regional community hospital in Wake Forest. Part of the University of North Carolina System, UNC Health’s plans begin with a state-of-the-art facility on approximately 45 acres currently owned by the Southeastern Baptist Theological Seminary near the corner of Capital Boulevard and Stadium Drive.

Pending state approval of UNC Health’s certificate of need application in early 2025, the new 50-bed, $500 million hospital complex will represent just the first of five planned development phases. The vision ultimately calls for extensive growth to serve the needs of Wake Forest and its surrounding communities and will support a workforce of thousands of healthcare professionals and their staff. The facility, which would serve a multi-county patient base, would boost the availability of primary and specialty medical care in Wake Forest, amplifying our business recruitment and retention efforts. It will also further sharpen our community’s appeal as a destination for residents of all ages.

The project is the culmination of years of collaboration between the Town of Wake Forest and the Seminary, which both share a vision to bring high-wage jobs to the property. The remaining acreage also presents unique opportunities for other private developments to serve the community’s needs well into the future.

Downtown Mobility Hub And The S-Line: Late 2023 brought exciting news of federal grant funding for the return of passenger rail service to Wake Forest after many decades. Those efforts advanced vigorously in 2024 as state transportation leaders joined Town officials in assessing sites for a downtown multi-modal transportation center and honing plans to maximize the impact of the S-Line on our community and economy. More than 200 people chimed in on engineering and architectural designs at a week-long series of open houses inviting public input last summer.

The three-story hub and train depot will be located on a town-owned parking lot and will feature indoor-outdoor seating, a “kiss-and-ride” area, a café and other retail spaces, office and community spaces on the upper levels, and green space for public gatherings. The S-Line will connect Downtown Wake Forest with Raleigh’s Union Station, as well as numerous North Carolina towns served by The Piedmont, the state-owned daily rail service operated by Amtrak that culminates in Uptown Charlotte. Ultimately, the S-Line will extend north, connecting to Richmond, Virginia, and Washington, D.C. We can expect momentum to continue building for the mobility hub and S-Line in 2025, with full operation of the line forecasted in 2030.

As Yogi Berra once quipped, “It’s difficult to make predictions, especially about the future.” But barring too many unforeseen obstacles that disrupt these ambitious plans, look for 2025 to be an exciting year for the town of Wake Forest, its economy, and the quality of life it offers residents.