— CUMBERLAND — Construction on Klot’s Mill on 917 Gay St. is moving along at a steady pace, and the job superintendent of Rehab Builders of North Carolina was able to conduct a walk-through for city officials Tuesday.
Steve Ames, along with Alex Sika, assistant superintendent, provided Mayor Brian Grim, Teri Hast, economic development specialist, and Brenda Smith, economic development coordinator, with a firsthand look at the building that will feature 50 apartments.
Grim and Smith were in agreement that the project was very well-done so far.
“We are very lucky to have chosen you to do the project. I can’t wait to see the finished project,” said Smith.
Grim echoed Smith’s sentiments saying, “This project is doing a great job of revitalizing this area and keeping the original feel of the building intact.”
The slated completion date is April, according to Bill Scantland of Landmark Asset Services in North Carolina, who was unable to attend due to the snow storm that hit the South. The project will feature one-, two- and three-bedroom apartments in a historic mill setting. Of these 50 apartments, eight will be done in a garden style and the remaining 42 will be done in a historical loft style. Amenities will include a computer room, a fitness area, an indoor children’s activity room, an outdoor toddler lot and walking trails.
The Mill was built in 1909 and previously served as the Western Maryland Food Bank and before that, Tri-State Discount Center. The existing mill was added to the National Register of Historic Places and many of its historical aspects are being retained, such as the original beams throughout the building and the original stairs on the second floor.
In addition, the original boiler room and coal bin will be retained. The boiler room space will be converted into an enclosed play lot for children and the building’s massive windows are being renovated to the U.S. Secretary of the Interior’s Standards for Historical Preservation.
“The window designs are a very important part of the historical fabric,” said Scantland in a previous interview. “We have received approval of the window design from the National Park Service and now we just have to wait for them to be built.”
The windows will take eight to 12 weeks to produce and about four weeks to install, noted Ames.
The apartments will be rented to families whose income is less than 60 percent of the area median income. This currently equals approximately $31,300 for a family of four, and is adjusted for family size.
The total budget for the project is $10.1 million, including approximately $7 million in hard construction costs. Funding for the project was provided by the Maryland Department of Housing and Community (through funding from the American Recovery and Recovery and Reinvestment Act), a conventional construction loan, along with their own department funds;together with federal and state historic tax credits which are syndicated to provide equity directly to the project.
Partners for this project include Cumberland Housing Alliance, which is a 10 percent minority owner. Other partners include Rosinante, LLC and Sari Investments of Winston-Salem, N.C., Fitch Development Group of Charlotte, N.C.,managed the tax credit application and arranged bank financing.
Contact Elaine Blaisdell at [email protected].