apartments, and he was not interested in being constrained by historic-tax-credit guidelines while developing the upper mill. In addition, the ownership team decided to privately finance the entire development themselves, which Williams says was a huge leap of faith. “Just to say the word condo to a bank in 2008 when we started this project was out of the question,” Williams explains. “However, this is probably the most signifi- cant development that has taken place in Alamance County during the downturn. Yet it went forward without the help of banks—almost in spite of banks.” The commercial spaces in Saxapahaw
Rivermill have been open for business since mid-2011 and are drawing crowds of interested visitors, not only for the regular musical events and conferences held in the ballroom, but also for the delicious dishes prepared at The Eddy Pub and Saxapahaw General Store. Meanwhile, the 28 condos, which will be custom designed by their in- dividual owners, currently are receiving the finishing touches on their core and shell. “We decided to phase the project: The pub
was phased in first and then the ballroom and now the condos,” Haslam explains. “The interest around the commercial spaces is actually driving the condo sales.” Haslam and Williams admit there have been many times during the last five years they wondered what they had gotten themselves into, but no matter how dif-
Saxapahaw Rivermill >> Square feet
TOTAL MILL AREA . . . . . . . . . . . 100,000 TOTAL RESIDENTIAL AREA . . .60,000 HAWBRIDGE SCHOOL . . . . . . . .19,000 COMMERCIAL AREA . . . . . . . . .21,000
ficult or expensive the project became, they and their fellow owners never lost sight of the community they were creating. “We set our intention early; this was about creating a community and that was our driving force,” Haslam says. “It helped us make decisions and was basically our purpose.” “There were certainly options that were presented to us where we could’ve gone
a cheaper route but it would’ve really compromised the building,” Williams adds. “Yes, it has been a long drawn-out commit- ment before there’s any financial return. However, there’s definitely return every day in community and satisfaction. There are many young people who have moved here to be a part of it.” Haslam adds: “Of course you ask yourself
when you’re making a decision whether somebody is really going to enjoy this and whether the benefit is that great. But we’re already seeing young and old people in- teracting in the spaces in the ways we had intended. And we originally thought we would have to bus people from Chapel Hill to work here, but all but five staff members of the pub and general store now live in Saxapahaw. It’s these people who are help- ing take our vision forward.”
Read a blog by Doug Williams, owner of Saxapahaw Rivermill,
about the importance of investing in the revitalization of communities. www. retrofi tmagazine.com/community
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