Saxapahaw Rivermill – Lessons in Mixed-Use, Historic Tax Credits and HUD Backed Loans

An interesting story in the Triad Business Journal on the redevelopment of Saxapahaw Rivermill in Alamance County into a mixed-use success story. Here’s a highlight:

During the next decade, with historic tax credits, a mortgage from a Raleigh bank, a federal HUD-backed loan and a good bit of their own money, the Jordans created Saxapahaw Rivermill. They then poured $11 million into the lower factory to transform it into 175 stylish, riverfront apartments and lofts. The units rented quickly after opening in 2006. There’s been a waiting list for years.

Read the whole story here (subscription required).