Located at 209 N Spruce Street, Hanesbrands Theatre was the first of the three multi-function theatres on Arts Council's campus. With state-of-the art lighting, projection, and audio systems, Hanesbrands Theatre is the premier black-box theatre in Winston-Salem, and one of only three art venues in the City with a DCP projection system.

As a performance venue, Hanesbrands Theatre can seat in traditional proscenium style up to 228 for theatre productions, film screenings, music, and dance performances. It can also be configured for theatre-in-the-round productions. Hanesbrands Theatre is the principal performing home for several theatre and dance groups, including The Little Theatre of Winston-Salem, the North Carolina Black Repertory Company and Winston-Salem Festival Ballet.

With fully retractable seating, Hanesbrands Theatre can be configured for a wide variety of non-theatrical events such as galas, receptions, corporate gatherings, and town-hall style meetings. It has hosted seated catered events for as many as 300 guests.