The former Sampson Mill that housed the American Spinning Company for nearly a century in the Poinsett District will see new life as a Virginia-based firm plans to transform the mill into loft apartments.
The company — ASGA, LP — plans to spend $49.8 million to redevelop the mill into 230 apartment units making up 240,000 square feet of space.
The project will be funded in part from $7.5 million related to the federal government’s EB-5 Immigrant Investor Program, which allows foreign entrepreneurs to apply for a green card in exchange investing in a commercial enterprise and creating at least 10 full-time jobs.
The company expects the project to create 211 jobs in Greenville County, according to CBRE, the commercial real estate firm that handled the sale of the property at 300 Hammett Street.
The mill was once the center of a thriving village. The village was later torn down in the area surrounding the 3-acre mill site, a block from Poinsett Highway just outside the Sans Souci community two miles from downtown Greenville.
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