The Pepper Building, NC

pepper-elevation rendering

The Pepper Building, which will be converted into a Hotel Indigo (IHG) is a typical historical restoration project, which will be complimentary to the gentrification of the downtown Winston-Salem submarket.  The Pepper Building (originally built in 1928) has been shut down and dormant for years. However, the massive amount of recent improvements made in the immediate trade area such as the $500MM Innovation Corridor immediately to the east of the subject property, the conversion of a multitude of historical buildings throughout the downtown corridor into office, retail, residential, service, specialty use and hospitality (the only hotel conversion is the former RJ Reynolds headquarters building located to the east, which was recently opened and converted into residential condominium units and a Kimpton Hotel) has served as the catalyst for the Pepper Building’s pending conversion. This redevelopment has allowed Vintage the opportunity of providing the Mezzanine Equity of a trophy quality hotel backed by one of the largest hotel franchisors in the entire industry;  Intercontinental Hotel Groups PLC (“IHG”) – a Company which has more than 5,000 hotels and nearly 750,000 hotel rooms in nearly 100 countries around the world. The Hotel Indigo at Winston-Salem will be uniquely designed to capture the essence of the neighborhood with oversized wall murals and seasonal menus reflecting the local character and culture.  The Project is located within the heart of the Piedmont Triad’s largest submarket and is surrounded by numerous cultural amenities, upscale shopping destinations and various entertainment venues and nightlife.