The closed L.A. Reynolds Garden Showcase site in western Forsyth County officially has a new owner in a Georgia commercial real-estate developer.
Mayfair Street Partners of Alpharetta, Ga., which recently opened a local office in Winston Tower, paid $2 million for the 37-acre property, according to a county Register of Deeds filing Tuesday.
The buyer was MF-Styers Ferry LLC and the seller was Longco Inc. of Winston-Salem. The sale was completed Friday.
The L.A. Reynolds business, which operated since 1979 at 4400 Styers Ferry Road, ended operations in the summer of 2017 amid a family dispute over future plans for the site.
The nursery, landscaping and gardening business was operated out of four buildings with a combined 28,443 square feet.
Linville Team Partners listed the property for sale in May 2017 with an asking price of $3.45 million, but reduced it last spring by $1 million. Mayfair’s interest in the property surfaced in July.
The Winston-Salem City Council on Sept. 4 approved Mayfair’s rezoning request to convert the property into a $32 million mixed-use development.
The development would feature 229 apartments and about 47,000 square feet of commercial and clubhouse uses in a total of eight buildings. The site plan shows 24,000 square feet of retail space, along with spaces for a restaurant, taproom, brewery and clubhouse.
“The Meadowlark Drive area is expanding nicely with a lot of single-family housing, and we believe there is a great opportunity for garden-style apartments in the area,” Simon Burgess, managing director of Mayfair who is based locally, said in a July profile story in the Winston-Salem Journal.
The site would have open spaces offering a dog park, patios and greenway trails.
The plan would be to keep two of the existing buildings for retail and restaurant use, as well as a farmer’s market. The site has 133 parking spaces.
The developer would be required to build a right-turn lane from Styers Ferry into the site. Because the complex would increase traffic, the developer is being required to post a $250,000 bond for future traffic improvements should they be required.
Mayfair plans to have its hospitality division operate the food and beverage retail sites.
Burgess said the company expects to begin construction on the apartments in the second quarter of 2019.
The preliminary plans are for apartments with 1,000 to 1,100 square feet and a monthly rental of $1,000 to $1,100.