Vapor Barrier Speeds Redevelopment of Former Textile Mill
A former textile mill operated from 1926 through 1983. Throughout the years in operation, there were no regulatory guidelines in place regarding the use and disposal of hazardous chemicals used on site. As a result, once operations ceased, the site was classified as a brownfield. The building has been vacant since the early 2000’s and the hazardous environmental conditions have made redevelopment a challenge. However, tax credit financing made it possible for developers to purchase the 24,500 square-foot building in 2015. The developers received $9 million in tax credit financing, making this remediation and restoration project possible. The tax credits included the New Markets tax credits and South Carolina Textiles Communities Revitalization Act.
This case study features the following:
- Site owners are pleased that the quick installation of Geo-Seal allowed the project to meet construction timeline goals
- The support of the state of South Carolina through the tax incentive package made it possible for developers to redevelop this brownfield site into new jobs and businesses for the community
- The construction and renovations included elements of historic preservation