Once one of the largest mills in Greenville County, Judson Mill was purchased in 2017 with plans to convert the 36-acre mill into a live-work-play mixed-use district.
On Jan. 23, Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, announced the closing of a $31,000,000 construction loan for the project. The deal will fund the first phase, which is focused on the multifamily development.
Once one of the largest textile mills in the world, Judson Mill first opened in 1912. In February 2018, the site was placed on the National Register of Historic Places.
Judson District encompasses 800,000 square feet of historic structures and will include 204 apartments with amenities including a community pool, fitness center, and courtyard, more than 215,000 square feet of office space, 141,000 square feet of light industrial/flex, and 8 to 12 acres of retail along Highway 123 (Easley Bridge Road), near St. Francis Hospital.
“Judson Mill played an important role in supporting the Greenville community for decades, and this redevelopment will ensure it can continue to do so for years to come,” said Ned Huffman, president of Bellwether Enterprise. “Bellwether Enterprise is excited to be a part of this revitalization, working closely with our partners to bring to life a place for both residents and the broader community to enjoy.”
Matt Good, senior vice president of Bellwether Enterprise, and Marshall Waller, vice president of Bellwether Enterprise, both based in the Greenville office, arranged the construction loan on behalf of the borrower, Judson Mill Ventures I, LLC. The lender is CresCom Bank. The deal makes use of the South Carolina Textiles Communities Revitalization Act tax credits, as well as state and federal historic tax credits.
“This development has the potential to be a game-changer to the surrounding area, given the space available for future development and its proximity to downtown Greenville,” said Waller.
