Home Real Estate Decades-Old Charlotte Mill Recast as Office, Retail, Housing Project
Real Estate

Decades-Old Charlotte Mill Recast as Office, Retail, Housing Project

Developers are finding that hundred-year-old flour mills and textile factories are too tough to die. A nationwide trend to renovate and repurpose the buildings is spreading. About a year from today, an adaptive reuse project in a 400,000-square-foot mill in Charlotte will be ready to accept tenants.

Called The Thread, the developers, the Keith Corp., have already signed up a tenant for the site. Mayfair Hospitality will take up 16,771 feet of the project with its attraction that will include a restaurant, bowling, mini golf, and live shows.

The first phase of The Thread will include 170,000 square feet of office space and 30,000 square feet of ground-floor retail. The projected total investment for the first phase is nearly $55 million. The developers will deliver the first phase of The Thread in December.

For phase 2, the project will include loft apartments and retail and could entail an investment of $100 million.

Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...