A major renovation of a historic property in Greensboro is moving full speed ahead.

The old Revolution Mill closed in the early 1980's. The former flannel mill once employed hundreds of people, and was a key player in the city's manufacturing economy. Now a new owner, Self-Help Ventures Fund, recently closed on a $100-million finance package to redevelop the complex.

The Triad Business Journal's Kristin Zachary has been following this story. For this week's Business Report, she talks with WFDD's Keri Brown about what we can expect to see in the Revolution Mill.

“Once it's completed, Revolution Mill will house more than 140 apartments, office space, two restaurants and 40 artists' studios.  We could see 1,500 people living, working and creating on the campus,” says Zachary.

Zachary says Self-Help Ventures Fund plans to capitalize on the city's arts culture, pairing it with the city's manufacturing history to create a live/work/play campus in the multi-million dollar redevelopment project.

She adds the developer is preserving the building's historic brick architecture from the late 1890's, while adding some innovative design concepts to the project.

The time line for the project is expected to wrap up quicker than originally planned. “Since Self-Help recently closed on a financing package, it allows for an accelerated construction schedule that looks for completion by the third quarter of next year,” says Zachary.

The Business Report on 88.5 WFDD is a partnership with the Triad Business Journal.

*Follow Keri Brown on Twitter @kerib_news

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