Construction has begun on a $70 million multifamily development called Address Beaumont Mill in Spartanburg.
Taft Family Ventures, a North Carolina-based real estate investment firm is transforming a portion of the historic Beaumont Mill site at 553 Isom St. into a new apartment complex in partnership with Spartanburg-based Gibbs International. The project is expected to be complete in early 2028.
Beaumont Mill was originally built in 1890 and operated until 1997. The historic mill property was acquired by Gibbs International in 2000. It is located on the north side of downtown Spartanburg, just east of Wofford College.
“From the beginning, we have been intentional about honoring the site’s history by incorporating the industrial character and architectural influences of the early 1900s into the design of this new community,” said Thomas Taft Jr., principal of Taft Family Ventures. “Address Beaumont Mill represents an opportunity to preserve the story of this important site while creating a new chapter for generations to come.”
Address Beaumont Mill will include 275 apartment units with a mix of one-, two- and three-bedroom floor plans. Approximately 10% of the units will be reserved for workforce housing per a development agreement with the city and county of Spartanburg.
The apartment units will be located within a new four- and five-story wrap-style building with a gym and a central courtyard featuring a pool and gathering area. The project will also create a dedicated bike trail connection to the Daniel Morgan Trail System, linking the Beaumont neighborhood to downtown Spartanburg.
Alabama-based Capstone Building Corp. serves as the project’s general contractor. Blake Waddle, project director of Capstone Building Corp, said the project brings high-quality housing to Spartanburg while creating meaningful connections to the surrounding neighborhood.
The project team also includes Reese Vanderbilt & Associates and Site Design Inc. Taft Management Group will be the property manager for Address Beaumont Mill. Leasing for the new apartment building is expected to begin in the fourth quarter of 2027.
