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Chatham Mills Redevelopment - 150+ apt. units

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Ken Reiter of Durham and Jerry Deakle of Raleigh is requesting rezoning of the historic Chatham Mills on the northwestern edge of downtown Winston-Salem. The vacant buildings sit opposite the Hanes Geo plant. The mill was built in 1907 and is on the National Register of Historic Places.

http://www2.journalnow.com/news/2012/jan/13/wsmet01-chatham-plant-could-be-turned-into-apartme-ar-1809517/

-154-158 residential units in PHASE ONE.

-40 residential units or commercial/office in PHASE TWO

-recreation space

-retail space

-pedestrian bridge over Peters Creek

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from cityofws.org

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very exciting project! I applaud WInston-Salem for taking a number of their historical properties and converting them into urban residences and office.

Edited by cityboi

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Richard Craver/Winston-Salem Journal:

A groundbreaking event will be held at 11 a.m. Friday for an historic rehabilitation project at the former Chatham Manufacturing Co. complex at 800 Chatham Road in Winston-Salem. Reservations are required by today. For more information, call Kenneth Reiter at (919) 885.4508 or email to [email protected]

The developer announced plans in 2012 for the $35 million project with 166 rental apartments in a 250,000-square-foot site. The apartments would range in size from 830 square feet to 1,552 square feet. There also have been discussions of a second phase with 60,000 square feet of commercial retail and office space. Reiter said his group purchased the property for about $645,000 in April 2012 and has had it rezoned for the project.

The original Chatham Mill was built about 1907. The National Carbon Co. and Western Electric, each of which once occupied the complex, made additions to the site in the mid-1940s, according to city planning officials. Western Electric occupied the building from 1946 to 1966, according to officials. The mill is listed on the National Register of Historic Places. It is eligible to pursue federal and state historic tax credits. The project received a $750,000 loan from the Winston-Salem City Council.

Commercial Realty Advisors are marketing the commercial space. Brochure attached. http://commercialrealtync.com/sites/def ... x17_v9.pdf

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During the press conference announcing the start of the project, the developers said they will have available by year’s end 166 one- to –three-bedroom rental apartments in a 250,000-square-foot site at 800 Chatham Road. The apartments would range in size from 830 square feet to 1,552 square feet, with monthly rents ranging from $700 to about $1,200. Kenneth Reiter, a co-developer along with Jerry Deakle, said the targeted demographic is a “workforce renter” of nurses, administrators, city and county staff and other professionals not able or willing to pay for a luxury downtown unit.

 

It's good to hear that this project is being positioned to be a somewhat less expensive option than most of the new apartment units downtown. One needs to look no farther than this project to see & understand the huge importance the Historic Tax Credits which were recently eliminated in N.C. What an awesome way to preserve structures from our past & re-adapt them to use well into the future. :thumbsup:

 

http://www.journalnow.com/business/business_news/local/linchpin-ground-breaking-held-for-redevelopment-of-chatham-manufacturing-site/article_28fedeaa-c9ea-11e4-affe-b752618d1afb.html

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Posted (edited)

Units are now available in the Mill 800 apartments, as the Chatham Mills project will be formally known. www.mill800.com

Photos courtesy of TwinCity:

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Edited by zalo

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