Two Salisbury Non-Profit Developers to Helm Mill-to-Housing Conversion
Two non-profit housing developers have been greenlit by the city of Salisbury to convert a former textile mill into affordable housing units. The $46 million development at the former Kesler Mill site will consist of 153 apartment units at 423 Martin Luther King Ave.
The project would repurpose the 13-acre Kesler Mill site at 423 N. Martin Luther King Jr. Ave. The Charlotte Business Journal reports that Kelser Mill operated from 1895 until 2003. The mill was closed in 2003 after Pillowtex, its former owner. The city estimates that 4,000 jobs were lost in Rowan and Cabarrus Counties combined as a result.
The town is working with Self-Help Ventures Fund and DreamKey Partners on the project. The Ventures Fund is a nonprofit that manages Self-Help’s real estate development. DreamKey is a Charlotte-based nonprofit real estate development and finance corporation.
The project would use Low-Income Housing Tax Credits for financing.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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