Tryon receives $25k state grant for conversion of historic Adams Mill

Published 1:14 pm Wednesday, March 18, 2009

The developer and Tryon will be providing grant administration as local in-kind match. The town previously advised when it applied for the grant that Tryon will provide a $1,000 match for the grant and the developer will provide a $4,000 match.

Wallace Cheves previously planned to convert the old mill building into upscale condominiums but changed plans due to the current economic downturn.

&dquo;When the market started slowing down we realized condos would be a tough sell,&dquo; Cheves told town council before it agreed to apply for the grant.

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Developers said they figure many more people may be renting and the grant requires that the developer hold the apartments for rent for five years.

Cheves also said the building has been placed on the state&squo;s study list for the National Historic Registry. The building, which sits on approximately four and a half acres, was constructed in 1936. The 80,000-square-foot building was formerly a Barnett Southern plant and closed several years ago.

Developers voluntarily had the property annexed into Tryon town limits and rezoned the property mixed use to accommodate plans to construct condos and provide 5,000 to 6,000 square feet of commercial space. Cheves said last year developers spent a good bit of money on the building removing asbestos and lead paint.