WINSTON-SALEM, NC -- Bailey Power Plant on Patterson Avenue once fueled the RJ Reynolds factories. Now, 20 years after it shut down, it's powering economic growth in Winston-Salem.

With more than 100,000 square feet of space, Bailey Power Plant is now home to restaurants, businesses, office space, and more. The building was the last of the historic buildings that was redeveloped in the Wake Forest Innovation Quarter and came with a price tag of $40 million dollars. Wake Forest Baptist Medical Center says the project culminates the largest historic redevelopment project in the history of North Carolina at around 1.1 million square feet.

Located on the corner of Patterson Avenue and Fifth Street, it's hard to miss the 130-foot-tall smokestacks rising above the historic buildings nestled among the Winston-Salem skyline. Several businesses are already calling the "old" building their "new" home including CML Microsystems and Alma Mexicana. Venture Cafe moved in as well - creating opportunities and programming for entrepreneurship in the city.

The Good Morning Show's Maddie Gardner got the chance to go check out the new rennovations. You can see her tour in the video clips below.