Developers across the nation are embracing a new trend of repurposing historic buildings, such as century-old flour mills and textile factories. In Charlotte, The Thread project by Keith Corp is set to open in about a year, offering 400,000 square feet of adaptive reuse space.
The first phase of this project will feature 170,000 square feet of office space and 30,000 square feet for retail on the ground floor. With an expected investment of nearly $55 million from the developers alone for this initial stage alone , The Thread has already secured its first tenant – Mayfair Hospitality – which will occupy over 16,771 square feet with its unique entertainment concept including dining options and live shows.
In addition to revitalizing these historic structures , The Thread’s second phase plans include loft apartments and more retail spaces that could require an investment upwards of $100 million . This ambitious undertaking showcases how old industrial sites can be transformed into vibrant mixed-use developments.
