Innovation Quarter today unveiled a refreshed master plan and new renderings for Phase II, a transformative 28-acre expansion that will elevate the district’s role as a hub for life sciences, regenerative medicine, biomanufacturing and community engagement.
“The Innovation Quarter is helping Winston-Salem thrive as a center of progress and possibility,” said Eugene Woods, CEO of Advocate Health. “Phase II strengthens Advocate Health’s commitment to this community, expanding an ecosystem of 150 partners and creating opportunities that will transform lives through regenerative medicine and biomedical science. This is innovation with purpose – and Winston-Salem is leading the way.”
Since the initial announcement of Phase II in 2021, the Innovation Quarter, created through a public-private partnership, has seen significant expansion and ecosystem development. Anchored by the Wake Forest School of Medicine and supported by Advocate Health, the district now contributes an estimated $2 billion in annual economic impact, supports 4,000+ full-time employees and generates nearly $60 million in state and local taxes.
“This updated plan was inspired by the extraordinary momentum and investment the Innovation Quarter has experienced in recent years – driven by Advocate Health’s commitment to both the enterprise and the Winston-Salem community,” said Terry Hales, executive vice chief academic officer of administration for Advocate Health, which includes oversight of Advocate’s innovation districts. “This next chapter builds on a strong foundation of academic, research and industry collaboration, positioning the region for continued growth.”
Recent Advocate Health strategic investments have included:
- $100 million to the Atrium Health Wake Forest Baptist Eye Institute, bringing approximately 200+ full-time employees and 100,000 annual patient visits – the first large-scale clinical operation in the district.
- $12 million acquisition of the former Linden Center, bridging the current footprint of the Innovation Quarter with the new expansion site.
- Growth of the startup ecosystem through Sparq™ coworking space (150+ members) and Sparq Labs™, a wet lab space for startups and growth stage companies (90 percent occupied).
“The growth we’ve seen in our life sciences ecosystem – fueled by strategic investments from Advocate Health and others – has laid a strong foundation for what’s next,” said Lindsey Schwab, director of community relations for the Innovation Quarter. “The horizontal infrastructure completed this year sets the stage for a new chapter of innovation and opportunity, not just for the Innovation Quarter, but for the entire Winston-Salem community.”
Advocate Health’s investment in Phase II includes $25 million in horizontal infrastructure, completed in 2025. Key improvements have included:
- Site grading and utility installations
- 46,830 feet of electrical and fiber conduit
- 131 new streetlights and 140 new trees
- A 2,270-foot extension of the Long Branch Trail
These investments pave the way for up to 2.7 million square feet of mixed-use development, including clinical, lab, office, residential, retail and hospitality facilities, as well as more than 12 acres of publicly accessible green space.
Phase II is focused on creating flexible infrastructure that supports companies from idea to commercialization. It builds on the momentum generated by the National Science Foundation Regenerative Medicine Engine in North Carolina, which aims to establish an industrial base anchoring a regenerative medicine manufacturing ecosystem within the Innovation Quarter. As part of this effort, planning includes the design of biomanufacturing lab environments that help de-risk emerging technologies and accelerate their path to patients.
As planning continues, Innovation Quarter’s Phase II is poised to attract new businesses, foster innovation and create jobs – further establishing Winston-Salem as a destination for life sciences and regenerative medicine.
For a deeper look at the investments, infrastructure and innovation shaping the district’s future, explore the full 2025 Developments story on the Innovation Quarter website.
About the Innovation Quarter
Innovation Quarter (www.innovationquarter.com) is a vibrant, mixed-use innovation district located in downtown Winston-Salem, North Carolina. Anchored by Wake Forest University School of Medicine, Innovation Quarter is home to a thriving ecosystem of more than 4,500 workers, 115 companies and nearly 2,000 students. The district blends state-of-the-art research facilities, academic institutions, residential space and community amenities – earning global recognition for its place-based approach to innovation and economic development.