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City sells Grey Mill to Belmont Sayre firm for hotel project
Hendersonville closed on sale of the 2.3 acre Grey Hosiery Mill property to Grey Mill Venture LLC, a Belmont Sayre subsidiary, for 1 million dollars. Council will discuss a development contract requiring 11 to 13 million dollars in adaptive reuse to create a 57 room hotel with 2100 square feet event space, plus streetscape upgrades on Fourth Avenue East. A forgivable grant of 500 thousand dollars is possible if Belmont Sayre meets job targets. Project milestones include starting development by June 30, 2018 and completing construction by October 1, 2019. The city preserves the mill history with photos and descriptive text in the hotel.
MENTIONED IN THIS ARTICLE
Hendersonville
Carrboro
Grey Mill Venture LLC
Belmont Sayre
Grey Hotel
John Conner
Fourth Avenue East
North Grove Street
North Main Street
Conner