Redevelopment City of Albemarle

1. Redevelopment City of Albemarle The Lillian Mill Project

2. PROJECT DESCRIPTION • Name of Project: LILLIAN MILL RENOVATION • The Lillian Mill, constructed in 1901, described as "Stanly County's best example of an early twentieth century Italian Revival style textile factory" in the1992 book Stanly County, TheArchitectural Legacy of a Rural North Carolina City, was in danger of being demolished until a group of civic and historic-minded individuals purchased the Mill in 2001. The Lillian Mill is located two blocks from the "square" in Albemarle at the fringe of the downtown business area and is adjacent to several residential neighborhoods, including the Pee Dee Avenue Historic District. The Mill is located in the Five Points National Register of Historic Places District and in the City of Albemarle's Local Historic District. The Five Points Redevelopment Area includes the Mill. Because of its size and age, Lillian Mill is the catalyst to the future development in this area. In the Five Points Redevelopment Area, a new restaurant and an art gallery have recently opened, with a combined investment in excess of 1 million dollars. The Lillian Mill Group, all local investors, is committed to the preservation and quality restoration of this historic building. • The citizens of Albemarle are benefiting from this new 5.2 million dollar project. Municipal contributions include an expenditure of $310,000 for new curb, gutter, and sidewalks, along with underground utilities within the Five Points area. The City's work and the Lillian Mill rehabilitation are both about 95% complete and will be finished soon. • The top floor containing 10,000 square feet has been divided into 5 condominiums with negotiations well under way for future leasing. The 10,000 square feet second floor is ready for leasing. Arc of Stanly County, a large private nonprofit organization dedicated to supporting people with mental retardation and other disabilities, is leasing the 14,000 square feet first floor. • Historic preservation and downtown revitalization are the primary objectives of this project. For the first time, people will be living downtown over commercial property. Hopefully this project will bring other residential investors and residents to downtown Albemarle. Not only is the Lillian Mill locally owned and managed, but also local tradespeople are extensively used for the renovation project. • As previously stated, the Lillian Mill is located in national and local historic districts and in a redevelopment area. What began as a ladies hosiery mill at the turn of the century is becoming a mixed use destination for many. • Of particular note, the original windows have been restored, utilizing the original design and 100 ± year-old wood. The Urban Development Block Grant Program administered by the North Carolina Department of Commerce contributed $975,609 to jump start the project. Federal Rehabilitation Tax Credits, North Carolina Mill Rehabilitation Tax Credits, a local bank, and the City of Albemarle all contributed to the implementation of this project. Take just one away and it would never have gotten off the ground. • The tax base will be increased by over 5 million dollars. Sidewalks and underground utilities are being added to a declining city neighborhood. With the Lillian Mill, Pontiac Pointe Restaurant, and Martin Art Gallery, people will dine, shop, and live in the Five Points area. This is an innovative project which other cities can look to as a model for private and multigovernmental cooperation and we hope this project will be recognized for the multiple benefits our community. • CONTACTS • Stephen Chambers Principal – The Lillian Mill Group • 704-984-6427 • James Luster Urban Development Block Grant Administrator - Centralina COG • 704-348-2706 • Bob Sasser Director of Planning and Community Development - • City of Albemarle • 704-984-9426