Through tax credit assistance, we facilitated an award-winning mill rehab.
The Connecticut Trust played a pivotal role in an adaptive use of Roosevelt Mill in Rockville, by providing tax credit assistance that allowed the mill’s developers to spend more money on preserving the building.
Built in 1906, the Roosevelt Mill was one of the first cast-concrete industrial buildings in Connecticut, and in the country. But severe contamination and location in a floodplain, among other things, seemed to make reuse impossible. By 2003 the Town of Vernon was seeking bids to demolish the building.
Read more about the rehab below. Click here to learn about current funding opportunities.
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Fortunately, the town agreed to sell Roosevelt Mill to Joseph Vallone Architects and Development Studio, and 12 years later, with the help of developer Marc Levine, the mill reopened as Loom City Lofts, containing 68 apartments (80 percent leased at affordable rates) plus 7,000 square feet of commercial space. Construction lasted only a year. But it took 11 years to resolve the endless issues facing the site: title issues, environmental contamination, floodplain issues, regulatory issues, political issues, investor issues, tax credit issues, lender issues, and design issues.
For its efforts, the project team earned a Connecticut Preservation Award. The list of participants is probably the longest ever submitted to the Trust for an award nomination — and the nomination was among the first to recognize the crucial role played by investors and public officials in bringing a preservation project to a successful conclusion. Loom City Lofts is a tribute to this wide-ranging team and to the developers’ tenacity in assembling it.