March 14, 2023

Belmont redevelopment project in the works for a decade set for grand opening

By Collin Huguley at Charlotte Business Journal

A grand opening ceremony is set for a long-planned Belmont project, which has seen success in its early months.

Developers of the Chronicle Mill project will hold a ribbon-cutting ceremony on March 16. The adaptive-reuse project has 238 apartments, 9,000 square feet of commercial space and a coworking component. It was led by John and Jennifer Church, who purchased the mill building in 2013, and partner Armada Hoffler Properties Inc. (NYSE: AHH).

Armada Hoffler said today that the apartments at Chronicle Mill are 98.7% leased and 91.2% occupied. Pre-leasing there began in mid- to late 2022, and residents began moving into the first apartments in late October. The developers will celebrate the major redevelopment project this week with their team and local elected officials as the mill nears capacity.

“We are thrilled with the outcome of our Chronicle Mill project, which allowed for the continued use of a viable community asset with a rich history,” said Louis Haddad, president and CEO of Armada Hoffler. “The community has embraced the project, and the leasing activity has been tremendous. Armada Hoffler is proud to be involved in such a distinctive redevelopment opportunity.”

RKW Residential and Foundry Commercial are leading the leasing and management efforts at Chronicle Mill.

Construction began on the long-awaited Chronicle Mill project in 2021. That came after developers spent years planning the project and addressing environmental concerns at the 7-acre project site. The team was prepared to begin construction in the second quarter of 2020, but that was pushed back due to the Covid-19 outbreak.

“Partnering with Armada Hoffler ensured Chronicle Mill would be revitalized using a thoughtful approach while preserving its historical elements, which we are extremely passionate about,” John Church said. “Steeped in history and situated in the heart of Belmont, Chronicle Mill now allows residents the ability to live, work and play in one convenient location.”