Portman Holdings is preparing the next phase of its adaptive reuse initiative at Savona Mill in Charlotte, expanding the project’s residential component with an additional multifamily phase. The company previously delivered 319 residential units at the historic property in 2024 as part of the first phase of redevelopment. The forthcoming second phase is expected to add 330 multifamily rental units to the site, further building out the mixed-use community around the century-old mill structure.
The new phase is planned with a mix of one-, two- and three-bedroom apartments, creating a range of layouts for future residents. In addition, the plans call for eight townhome pads, adding a lower-density residential option within the same development. This combination of apartments and townhome sites is designed to expand the overall housing offerings integrated into Savona Mill’s broader adaptive reuse framework.
Amenities planned for the upcoming residential phase include a pool deck, a clubroom and a fitness center, as well as coworking space. These shared areas are intended to support on-site lifestyle, recreation and work-from-home needs for residents once the new units are delivered. The amenity package will sit alongside the project’s existing mix of uses, which already incorporates office and retail components within and around the converted mill.
According to reporting from The Charlotte Business Journal, construction on the second residential phase is expected to begin in the fourth quarter of this year. The development team is targeting an initial delivery of units in the second quarter of 2028, establishing a multi-year build and lease-up timeline for the additional 330 apartments and the townhome pads.
Portman previously invested $70 million in overhauling the 108-year-old Savona Mill building in 2023, setting the foundation for the current and planned phases. Beyond the residential elements, the overall development encompasses approximately 180,000 square feet of office space and 20,000 square feet of ground-floor retail. The project also features several outdoor and open-air patios, along with a rooftop deck, reinforcing its positioning as a mixed-use environment anchored by a rehabilitated historic asset.
With additional multifamily units now moving toward construction, Savona Mill continues to evolve as an adaptive reuse destination in Charlotte, combining residential, office and retail space within a single campus that is being built out in phases over multiple years.
