Historic Mill in Graham to be Converted to 127-Unit Apartment Community

According to an article in the Burlington Times-News the Graham City Council has approved a rezoning for a historic mill site that will allow a developer to convert it to a 127-unit apartment community. From the article:

The property, at 219 W. Harden St., is a 6.8-acre plot surrounded by a variety of other residential, business and office-institutional zoning. The mill was begun in 1882, but has not operated as such for at least 15 years. The land is currently owned by Jay Burke Rentals…

Third Wave Housing of Winston-Salem is the contracted purchaser of the property and is planning to turn the vacant industrial site into “an adaptive reuse of the mill building into 127 rental apartments using the existing interior space.”

Speaking for Third Wave, Richard Angino said he has 20 years’ experience adapting old and historical buildings to modern use. He said his company has removed some of the façade along Harden Street and found the original material to be in good shape, along with original windows and trim. He called it a “remnant of history” deserving of being reused…

Initial plans call for the exterior façade to be refurbished to the 1910 era. There will be 91 one-bedroom apartments with 660-740 square feet and the remainder as two-bedroom units of 900-1,000 square feet and all with loft apartments with 14-foot ceilings. Estimated rents would be $500 to $750 per month, according to size…

Angino said there had been initial environmental assessments and would be more. He estimated the project would represent an $11-$13 million investment on property that is valued on the tax books now at about $700,000.