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.
WinnCompanies is redeveloping the 127-year-old Osage Mill in Bessemer City, N.C. Tenants earning 60 percent or less of area median income (AMI) will qualify to live at the property when it is completed next year.