GREENSBORO, NC – September 26, 2018 – The Madison, Wisconsin-based Alexander Company is rehabilitating the historic Printworks Mill in an adaptive reuse project creating a vibrant, mixed-use community in Greensboro’s blossoming Mill District. The roughly 470,000 square-foot building will deliver mixed-income residential apartments, interior parking, retail space, and climate-controlled self-storage facilities.

“The preservation of these historic mills is a valuable economic development tool,” says Mayor Nancy Vaughan. “The Printworks Mill redevelopment is breathing new life into the community while keeping our history alive and delivering much-needed affordable housing.”

One of the few remaining sizeable, historic sites in Greensboro is about to embark on a major restoration

 

The apartments will predominantly be adorned with refurbished steel sash windows, exposed historic brick walls, and a combination of polished concrete, carpeted, and vinyl floors. The new community will feature a wide array of amenities to match the interests of residents and visitors, including a club room, fitness center, grilling area, swimming pool, tot lots, landscaped courtyards with gazebos, and an extension of the Greensboro Greenway.

“The community has an extensive history with these mills,” says Joe Alexander, President of The Alexander Company. “You can’t tell the story of Greensboro without them, and we’re excited to restore Printworks Mill and return it to the community as a thriving campus.”

Constructed in multiple stages beginning in 1913, the historic Printworks Mill stands between two other industrial complexes – Revolution Cotton Mill and White Oak Mill, all originally part of the Cone family textile mill empire and key contributors to the diversification and evolution of the textile industry in Greensboro. Revolution Mill completed a successful rehabilitation in 2017 and Printworks Mill hopes to complement and contribute to what’s become known as Greensboro’s blossoming historic mill district.

Affordable one- and two-bedroom apartments will be $681 and $817 per month, respectively; these apartments will be reserved for those earning less than 60% of area median income. The average monthly rent for market-rate one- and two-bedroom apartments will be $950 and $1,400, respectively. Under the current construction timeline the apartments will be ready for occupancy in the second quarter of 2020 with the commercial and self-storage spaces becoming available slightly earlier in the fourth quarter of 2019.

For over 35 years The Alexander Company has specialized in historic preservation, adaptive reuse, and urban infill development. Nationwide, The Alexander Company gives new life to historically significant buildings and downtown neighborhoods.

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LINKS

Printworks Mill Apartments: https://printworksmill.com/

The Alexander Company: http://alexandercompany.com/

 

Printworks Mill Fact Sheet

One of the few remaining sizeable, historic sites in Greensboro is undergoing a major restoration. The Madison, Wisconsin-based Alexander Company is rehabilitating the Historic Printworks Mill in an adaptive reuse project creating a vibrant, mixed-use community in Greensboro’s blossoming Mill District. The roughly 470,000 square-foot building will deliver mixed-income residential apartments, interior parking, retail space, and climate-controlled self-storage facilities. The new community will feature a wide array of amenities to match the interests of residents and visitors, including a club room, fitness center, swimming pool, tot lot, outdoor grilling area, and extension of the Greensboro Greenway.

What does the rehabilitation include?

  • Adaptive reuse of historic buildings
  • Preservation of interior and exterior historic features
  • 217 multi-family historic apartments (143 affordable under the 60% AMI program and 74 market rate)
  • Indoor and outdoor community spaces
  • 9,000 sf of retail space for potential neighborhood eating and drinking establishments
  • 80,000 sf of self-storage

Project cost: $54 Million                Anticipated job creation: approximately 250 jobs over two years

Funding sources: Low Income Housing Tax Credits, Federal and State Historic Tax Credits, tax exempt loan and developer equity.

Project partners:

The Alexander Company is the developer and will lead the project. A strong group of local organizations are teaming up to make this project a reality. They include:

  • Borum, Wade and Associates: Engineer
  • ECS: Environmental
  • Plageman Architecture: Architect
  • Rehab Builders: General Contractor

What community amenities will be available to residents?

Printwork Mills will feature a wide array of community amenities to match the interests of all residents

  • Community room overlooking Buffalo Creek
  • Fitness center with locker rooms
  • DIY room
  • Fenced in play area for dogs
  • Outdoor swimming pool
  • Tot lots for children
  • Quiet, contemplate park spaces with a gazebo
  • Landscaped courtyard with covered grilling area
  • The Greenway: walking, biking or running along Buffalo Creek
  • Tenant storage
  • Secure interior parking
  • On-site management
  • On-site and emergency maintenance
  • Proximity to dining and entertainment options at Revolution Mills
  • Additional park amenities may develop as community planning progresses, such as a dog park or technical bike trail.

What apartment amenities will be available to residents?

  • Pet-friendly community
  • Unique floor plans
  • Restored historical elements
  • Exposed brick walls
  • Polished concrete, wood or carpeted floors
  • Expansive windows (some 20’ x 16’)
  • Stainless steel, energy-efficient appliances
  • Individual climate control
  • Mobile kitchen islands for flexibility
  • In-unit washer and dryer
  • Abundant closet space or walk-in closets
  • Varying finish packages to suit personal tastes
  • Private patios and balconies available
  • Townhome-style layouts available
  • Private entrances available
  • High-speed internet ready

What are the apartment rents and sizes?

  • One-bedroom apts (avg 755 sf)
    • Affordable: $681/mo
    • Market rate: avg $950/mo
  • Two-bedroom apts (avg 1,147 sf)
    • Affordable: $817/mo
    • Market rate: avg $1,400/mo

What would be an ideal commercial user?

  • Restaurant, coffee shop, or specialty retailer

What are the self-storage sizes and pricing?

  • To be determined

Project Timeline:

  • Anticipated commencement in June 2018 – 24-mo. Construction period
  • Anticipated completion of commercial and storage in the fourth quarter of 2019
  • Anticipated completion of apartments in second quarter of 2020

 

Significance of The Historic Printworks Mill:

The Historic Printworks Mill is a collection of industrial buildings constructed in multiple stages beginning in 1913. Printworks stands between two other industrial complexes – Revolution Cotton Mill and White Oak Mill, all originally part of the Cone family textile mill empire and key contributors to the diversification and evolution of the textile industry in Greensboro. In general, textile mills in Greensboro are significant as reflections of the growth of the city and its essential industrial economy. The Printworks Mill was the first textile printer in the south and proved that southern mills could complete the more sophisticated tasks of printing cloth. When the mill was newly-purchased, the Cone family first installed a printing machine for fabric, the manufacturer of the machine was content to make the sale but found it a dubious investment: “What in the world are you going to do with a printing machine way down there in the sticks?” At that time fabric printing had been something mostly done in the northeast.

By 1914 Printworks Mill had 40 employees. By 1921 that number grew to 141, with the highest paid employee earning $4.55 per hour. Finally, by 1928, 200 people worked at the Printworks Mill where 125,000 yards of cloth were produced daily.

Over the next two decades the Cone family continued to expand, purchasing additional mills and expanding services and products provided. The expansion of the state’s textile industry prompted the establishment of metalworking plants to support machinery at the textile mills. The state’s promotion of these industry achievements sought to attract more producers to the state.

Despite those efforts, the industry suffered greatly over the next two decades. Clashes between management and organized labor, changes in regulation, and competition for imported yarns and fabrics all put stress on North Carolina textile mills. Printworks Mill closed in 1977.

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