Revolution Mill Primed for Apartment Development

Self-Help Ventures is just about ready to start building out apartments in its Revolution Mill mixed-used project:

Self-Help Ventures Fund has purchased a final piece of the Revolution Mill property in eastern Greensboro that expands the mixed-used campus the Durham-based nonprofit is developing.

In a multipart real estate deal that got underway late last year, Self-Help this month completed its purchase of the Revolution Mill House at 2004 Yanceyville St., a nearly 100-year-old portion of the former Cone Mills plant that’s operated as a storage unit business…

With this latest acquisition, Self-Help has created a campus that spans more than 45 contiguous acres. Self-Help purchased Revolution Mill at auction in 2012 for $8 million, and then in July 2014 bought the neighboring Olympic Mill for $2.4 million.

Overton said planning for the Olympic Mill property, which is on 17 acres on Yanceyville Street directly south of Revolution Mill, is still underway. Work is continuing on Revolution Mill, with shell work on the back portions of the main mill buildings now complete and the space ready to be built out into apartments.

“We’ve been doing some of what I would call early construction phases for that building and the old Nussbaum building — sand-blasting paint, putting in new flooring,” Overton said. “We’re starting the process of getting this ready for our next phase. We’ll be announcing that next phase soon.”