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October.26.21

WinnDevelopment to Acquire Historic Mill in Bessemer City, NC, for Planned Mixed-Use, Workforce Housing Development

WinnDevelopment to Acquire Historic Mill in Bessemer City, NC, for Planned Mixed-Use, Workforce Housing Development

Bessemer City, NC (October 26, 2021) – WinnDevelopment, one of the nation’s leading developers of historic mills for residential living is moving to acquire the Osage Mill in downtown Bessemer City as the first step toward transforming the 250,000-square-foot structure into workforce housing apartments and commercial space.

Working with city and state officials, the company plans to restore the 125-year-old brick mill and five-acre development site into 139 one-, two, and three-bedroom apartments, 30,000 square feet for ground floor commercial uses, multiple outdoor gathering spaces and play areas for residents and children, and 244 parking spaces.

“We’re excited for the opportunity to bring our expertise to this community with a strong demand for housing that’s affordable for the working people who fuel the region’s economy,” said WinnDevelopment Vice President Aimee McHale. “We look forward to moving forward with a development process that will lead to the start of construction in the spring of 2022.”

Osage Mill is located in a mixed-use neighborhood adjacent to the city’s downtown commercial area offering easy access to Interstate 85 for commuting 29 miles to Charlotte, NC, or 47 miles to Spartanburg, SC, both strong employment centers for the area.

“Bessemer City is extremely excited about the transformation that will be taking place at Osage Mill in 2022,” said Bessemer Mayor Becky S. Smith. “The Osage Mill Redevelopment is a catalyst project that will, and already has, enticed additional investment and business development in our downtown.”

WinnDevelopment is the nation’s leading developer of historic and iconic buildings for use as multifamily housing – preserving, restoring, and transforming more than 40 abandoned textile mills, schools, and other landmark structures into affordable and mixed-income apartment communities in Connecticut, Massachusetts, New York, Pennsylvania, Rhode Island, Virginia, and Washington, DC. No other developer has won more awards for residential adaptive reuse projects.

The adaptive reuse of the Osage Mill will be performed to the Secretary of the Interior Standards and eligible for Federal Historic Tax Credits and North Carolina State Mill Credits. In addition, WinnDevelopment will work closely with Duke Energy to maximize the energy efficiency of the building’s mechanical equipment, appliances, lighting, and building envelope so that the final development conforms to Energy Star guidelines.

Recognizing Bessemer City’s need for workforce housing, apartments at the restored property will be available to individuals and families earning at or below 60% of Area Median Income.

WinnDevelopment is the development arm of WinnCompanies, an award-winning owner, developer, and manager of apartment communities nationwide. Once completed, the Osage Mill development will be managed by WinnResidential is one of the largest multifamily operators in the United States.

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