Press Release: Historic Dunbar School To Add 66 New Apartments & Community Spaces
Historic Dunbar School To Add 66 New Apartments & Community Spaces
$18 million project breaks ground for revitalization of the historic Dunbar School
LEXINGTON, NC | SEPTEMBER 16, 2025—Belmont Sayre, the City of Lexington and Preservation NC are pleased to announce the purchase of the historic Dunbar School by Dunbar Belrock Ventures LLC. The Dunbar School is located at 301 Smith Avenue in Lexington, NC.
Belmont Sayre, a development firm based in Chapel Hill, NC is honored to partner with the City of Lexington to re-imagine and revitalize the historic 10-acre Dunbar School campus.
The $18 million project will convert classrooms into approximately 66 workforce studio, 1-and 2-bedroom apartments with a variety of innovative features and amenities. The City will program approximately 25,000 square feet of space, including a repurposed auditorium, gymnasium and assorted community spaces, as well as updated outdoor recreation areas and associated parking. The mid-century modern architecture and culture of the site will be preserved and celebrated throughout the campus.
Apartments are expected to begin leasing in August 2026.
Dunbar School, constructed in 1951, has served a vital role in the Lexington community for almost 75 years. Named after the esteemed poet, Paul Laurence Dunbar, the Dunbar School initially served the Black community prior to school integration in 1964. The school closed its doors in 1968, and reopened as the Dunbar School in 1969 for Lexington’s 6th and 7th graders, changing again in 1976 to the Dunbar Intermediate School for 4th and 5th graders.
The historic Dunbar School has remained largely unoccupied since 2009, but was designated as a Local Landmark by the State’s Historic Preservation Commission. “Our goal is to preserve the legacy of the historic Dunbar School while fostering a modern, vibrant community where residents can thrive and connect,” said Kenneth Reiter, President of Belmont Sayre. Lexington Mayor Jason Hayes said: “We are excited to honor our past and revitalize our future with much needed community and recreational facilities and workforce housing in our wonderful Dunbar neighborhood.”
“Preservation NC worked with members of the community, City staff and the new owners as they developed their plans for this significant historic school,” says Cathleen Turner,
Preservation NC’s Piedmont Regional Director. “We are excited about their plans and look forward to the project getting underway and playing an important role in the community once again.” Preservation NC’s protective covenants and rehabilitation agreement will guide future development to ensure the preservation of the school’s architectural and cultural integrity. The project will adhere to the Secretary of the Interior’s Standards for Rehabilitation of Historic Properties and utilize preservation tax credits.
The project is made possible through the collaboration of several key partners, including Carter Bank, Foss & Company, Windsor Contracting, McMillan Pazdan Smith, Davis Martin Powell, Core Collaborative, and Multifamily Select Inc.
For more information about the Dunbar School project, please visit
www.presnc.org/news/historic-dunbar-school-in-lexington-sold-new-developer-plans-to-
adapt-property-into-new-housing-units-serve-needs-of-local-community/
