Portman Holdings is moving ahead with the next residential phase at Savona Mill, an adaptive reuse development in Charlotte. The company has already delivered 319 apartments as part of the project’s first phase, completed in 2024, and is now preparing to expand the community’s multifamily footprint.
The forthcoming second phase is expected to add 330 rental units to the site. According to reporting from The Charlotte Business Journal, the new housing will feature a mix of one-, two- and three-bedroom apartments, along with eight townhome pads, broadening the range of residential options available within the project.
Planned resident amenities for the new phase include a pool deck, clubroom, fitness center and coworking space. These additions build on Savona Mill’s positioning as a mixed-use environment that integrates housing with workspace, retail and outdoor gathering areas.
Construction on the Phase II residential component is anticipated to begin in the fourth quarter of this year. The first units from this phase are projected to deliver in the second quarter of 2028, establishing a multiyear development timeline as Portman continues to build out the site.
Portman previously invested $70 million in 2023 to overhaul the 108-year-old Savona Mill property. That work transformed the historic mill complex into a modern mixed-use destination while preserving its legacy as a long-standing industrial asset in the market.
Beyond the residential phases, the Savona Mill development program includes approximately 180,000 square feet of office space and 20,000 square feet of ground-floor retail. The project incorporates several outdoor and open-air patios as well as a rooftop deck, further supporting its adaptive reuse character and mixed-use functionality.
With the planned second residential phase, Savona Mill continues to evolve as a substantial adaptive reuse development that combines housing, office and retail within a historic mill setting. The additional rental units and amenities will expand the community’s residential offering as the broader project build-out progresses over the coming years.
