Portman Holdings Breaks Ground on Savona Mill Mixed-Use Project in Charlotte’s West End
CHARLOTTE, N.C. — Atlanta-based Portman Holdings has broken ground on Savona Mill, an adaptive reuse of a 105-year-old textile mill in Charlotte’s West End that is being converted into a mixed-use community. The project’s first phase is expected to open next spring and will feature office and retail elements, as well as an outdoor amphitheater, green spaces, rooftop deck and a community-centric plaza. The outdoor amphitheater will host live music and public events for the community.
At full buildout, Savona Mill will offer office tenants a rooftop deck with views of downtown Charlotte, fitness amenities and an outdoor promenade. The property will also include up to 650 residential units in an adjacent multifamily community, which is going to be developed by the affiliate of Portman Holdings Atlanta-based Portman Residential. Sitework is already underway on the residential component of the project, and vertical construction is expected to begin later this year.
Institutional investors advised by J.P. Morgan Global Alternatives have signed on as equity partners in the reconstruction of Savona Mill, joining investment partner Argos and construction lender Synovus Bank.
The project team for the office and retail components of Savona Mill also includes Durham-based Alliance Architecture as lead designer, Charlotte-based Edifice as the general contractor, Kimley-Horn for civil engineering and Durham-based Surface 678 for landscape design. John Ball, Cody Sundberg and Claiborne Dandridge of Foundry Commercial will be leasing the office space at Savona Mill, and Keely Hines will be handling retail leasing.