Capitol Broadcasting Company, has signed on to a 400,000 square foot adaptive reuse project in Rock Hill, South Carolina known as “The Thread.”
The Keith Corporation, Springsteen Properties, and Capitol Broadcasting Company have formed a development team for the project. Construction began this week, and the first phase should be completed by January 2024.
“Capitol Broadcasting is honored to join the Keith Corporation and Springsteen Properties in investing in the future of York County and help link the anchors of Rock Hill’s community together,” said Michael Goodmon, Executive Vice President of Capitol Broadcasting Company, in a statement. “We know firsthand how compelling historic reuse projects are to top talent and companies. As we come out of COVID, The Thread will bring to the market a one-of-a-kind place for people to share in all that the community has to offer.”
A prior partnership between Capitol Broadcasting Company and The Keith Corporation yielded the American Tobacco Campus in Durham, which recently expanded.
The first phase of construction will consist of 170,00 square feet of Class A office space with another 30,000 square feet of retail space on the ground floor. Tenant upfits could begin as soon as fall 2023 with the facility opening in January 2024, according to the partners.
That first phase will transform a historic textile mill and warehouse originally built in 1946. Additional phases will see more office space, more retail space, and loft-style apartments.
“We have a once-in-a-lifetime type of project, with irreplaceable history and design characteristics, set in a prime location that will offer our office, retail, and residential tenants alike a true experiential real estate option that is unrivaled within the greater Charlotte market,” said Jay Coleman, Office Partner at The Keith Corporation in a statement. “With nearly $500 million of new and complementary mixed-use development within Knowledge Park and walking distance from The Thread, the timing is right to move forward with our phase one plans.”
Expansion in Rock Hill
Knowledge Park spans from Winthrop University to Old Town Rock Hill. The Thread, once developed, will preserve the historic elements of the 1940s-era building and create what the developers noted in a statement would be “one of the most unique mixed-use redevelopment projects across the Carolinas.”
Springs Creative, which has occupied the existing space, will be the anchor tenant in the facility following its construction. Once a subsidiary of Springs Industries, Springs Creative owns and operates five textile manufacturing plants in York County and Chester County, South Carolina. Springsteen Properties manages the firm’s real estate portfolio.
“As Knowledge Park began to take shape, we realized we had a unique opportunity to one day redevelop the property and help breath life back into this once thriving textile corridor,” said Derick Close, Owner and CEO of Springs Creative, in a statement. “Given the amount of recent growth within the Charlotte region and the growth still to come, we feel the time is right to get this redevelopment underway and we could not be more excited to work with The Keith Corporation and Capitol Broadcasting Company to bring this project to life.”
The second phase of construction is set to begin in 2024, following the completion of the first phase.
Thanks to WRAL TechWire for this Capcom story.