Revolution Mills once historic landmark transitions to mixed use redevelopment in Greensboro Opportunity Zone

The first and largest flannel mill in the South, Revolution Mill helped establish Greensboro's manufacturing tradition and the Triad's prominence as the center of North Carolina manufacturing. The stack from the original mill remains today.

The entrance to the residential side of Revolution Mills is a blend of the old and the new, speaking not only to the historic significance of this property, but to the future.

FOD Jody Moses tours a 2 bedroom affordable unit. Exposed brick, recycled glass countertops and stainless appliances are just a few of the interior features.

The common areas of the property, like the hallways, highlight the vast size of the building as a former mill.

Greensboro Field Office Director, Jody Moses recently toured Revolution Mills (https://revolutionmillgreensboro.com/), a $100 million mill redevelopment in an Opportunity Zone in Greensboro, North Carolina. Revolution was the first and largest flannel mill in 1899 in the state and for decades thereafter was recognized as a significant historical landmark. Located just two miles north of downtown, the Mill was fully built out as a 570,000 square foot mixed-use development leveraging both Historic and New Market Tax Credits.

"Revolution Mills will hopefully serve as a model for future development, not only leveraging Historic and New Market Tax Credits, but also the transformational vehicle of Opportunity Zone locality as a force for positive change, bringing economic growth to distressed areas," said Greensboro Field Office Director Jody Moses.

The total project encompasses approximately 50 acres and the investment exceeded $100M, making it one of the largest commercial construction projects in Greensboro. Revolution created 1,260 permanent jobs, features 150 one and two-bedroom apartments with 30% of the units set aside as affordable units. In addition to residential apartments, Revolution has 240,000 square feet of light-filled office space and is home to 100 businesses and offers several dining options and multiple outdoor performance spaces for festivals, movies and concerts.

The Opportunity Zone tax incentive provides a tremendous way to bring investments, jobs, business expansion, and new business development to help low income communities that are Qualified Opportunity Zones.

HUD Secretary Ben Carson in October introduced the new website, www.OpportunityZones.gov, that will serve as a hub of information for the array of audiences that interact with the Opportunity Zones initiative. Opportunity Zone residents, State and local leaders, Federal partners, investors, and entrepreneurs can all utilize the website to get information about the latest actions of the White House Opportunity and Revitalization Council.

The Opportunity Zone website includes:

• An interactive map of the 8,764 Opportunity Zones nationwide
• Links to the Opportunity Zone-focused website of each State and Territory
• Comprehensive Federal tools and resources that support Opportunity Zone residents and complement Qualified Opportunity Fund investments
• The completed action items of each White House Opportunity and Revitalization Council member agency

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