502
BESSEMER CITY, N.C. — WinnCompanies has broken ground on an affordable-housing, adaptive reuse project that is converting a mill building, constructed in 1896, into 139 apartments in Bessemer City, which is approximately 29 miles west of Charlotte, North Carolina. The $35 million project will provide units for tenants earning 60 percent or less of area median income (AMI). The 250,000-square-foot Osage Mill building has been vacant since 1995. Financing is supported by tax-exempt bonds from the North Carolina Housing Finance Agency (NCHFA) that were issued by the Gastonia Housing Authority. Completion is slated for the end of 2024.