The Lofts on Haw River

    Project Highlights:
  • Project Costs: $44.2 Million (approx.)
  • Qualified Rehab. Exp.: $38.3 Million (approx.)
  • 175 market-rate apartments
  • 7,800 square feet commercial
  • Status: Completed in April 2021

The Granite Mill in Haw River, North Carolina was one of the largest producers of corduroy during the mid-twentieth century. Cone Mills shut down operations in the early 1990s. The property sat vacant since that time until construction began in 2019. Construction was completed in April 2021.

Now known as The Lofts on Haw River, the property includes 175 market-rate apartments and 7,800 square feet of commercial space. More than fifty percent of the apartments and many of the project amenities, such as the saltwater pool, the fitness center, and the club room, have direct views of the river. The Lofts on Haw River also features project amenities such as campus-wide, hi-speed WiFi, electric car charging stations, and an 8,000 square foot co-working space.

The project was placed in service between August and December 2020.


Visit the Lofts on Haw River website

    Financing
  • Public-private partnership: D3 Development views the Town of Haw River and Alamance County as our partners in this effort to return Granite Mill to its former glory.
  • HUD-insured 221(d)(4) construction and permanent loan
  • Federal Historic Tax Credits
  • State of North Carolina Mill Credits
  • Tax Credit Bridge Loan
  • Opportunity Zone