Easley Cotton Mill Site To Become Apartment Complex

Developers aim to give new life to an old textile mill in Easley, and they're asking for county council's assistance.

Kingside Properties, LLC has announced it will convert the former Easley Cotton Mill, located at 601 S. 5^th Street, into 123 apartments.

Developers asked county council to support the project by giving it a tax break.

Members of council's administration and finance committee discussed the request Tuesday morning.

County Administrator Chap Hurst said developers have asked that the project be put into a historical district and that the county rebate 25 percent of the property taxes.

“The request was initially for 40 years, but the law says you can go 20 years,” Hurst said.

County Councilman Chairman Jennifer Willis said several years ago it was announced that the former mill site would be converted into low-income apartments, and had a received a Community Development Block Grant.

“The market collapsed and everything went to hell in a hand basket,” Willis said.

The proposed apartments will be market rate apartments, not low-income housing, she said.

“What they're asking for is a 25 percent rebate on the tax base on the improved value,” Willis said. “Right now it's a depreciated, abandoned dilapidated mill that we're not getting squat on. ”

Councilman Neil Smith agreed.

“Old mills, unless they're converted, you don't get anything for them,” he said. “The assessment on that property right now is probably nothing.”

Hurst agreed.

Kingside officials tell council that they will be applying for financing through the U.S. Department of Housing and Urban Development.

Developers say the special assessment – a 25 percent reduction on the new assessment - will help the project secure its funding.

“They're coming to us before they've turned a shovel,” Willis said. “They're trying to put a package together and this is a piece of the package.”

The $20 million project will improve the property's value, Hurst said.

Hurst said county council must pass an ordinance granting the special assessment.

“It has to be a rehabilitative, historic property or a low or moderate income rental property,” Hurst said.

The historic district can be done property by property, Hurst said.

“This is only for this property,” he said.

“The property is going to have to be certified,” he said. “You're going to have to get a designated agency like the Historical Society or somebody of that character to say, 'This has some historical value.' Most of these type mills are going away. You don't see them anymore.”

The project would be under constrictions that would ensure the historical character of the building is maintained.

The project would not be a part of Easley's TIF district.

“This is strictly a private project funded by private citizens,” Willis said.

Smith said the project could spur further development in that neighborhood.

“This sounds like that would be a good thing to do,” Smith said.

In the project summary, developers say the hope the construction loan closing will occur in May of next year. Construction is expected to take 15-17 months.

Committee members voted to bring the request out of committee and bring it before full council.