The Lofts at Sterling Mill located in Franklinton, N.C. opened in November. The 124 year old structure, formerly known as Sterling Cotton Mill, was built in 1895 by Samuel C. Vann. It was placed on the Historic Register of National Places in 1996. The property is the latest by S.L. Nusbaum Realty Co., headquartered in Norfolk, Va.
The design of the 96 apartments retained much of the original structure and features. Community amenities include a business center, playground, outdoor grilling area, and a state-of-the-art fitness center.
In attendance at the grand opening were family members of Samuel Cannady Vann, founder of Sterling Cotton Mill, including Josephine Dickson and her husband, Warren Dickson and Sara “Sallie” Whitmore.
According to Miles Leon, president of S.L. Nusbaum Realty Co., “It was a special treat to meet members of the Vann family. We toured the building and they shared both memories and artifacts that they treasure to this day.” Leon continued, “This apartment community represents a unique blending of the past, the present and the future. Having some of Vann’s ancestors with us today, was very meaningful.”
The apartment homes were leased within months of opening and a waitlist has begun, according to Leon.
Another unique aspect of The Lofts at Sterling Mill is the offering of below-market rents for residents with annual incomes up to 60 percent or less of the Raleigh-Durham MSA’s median income. Leon expressed he finds “great satisfaction in providing housing that is both of very high quality and very affordable.” Rents for one bedroom units run $749 per month, two bedroom units are $929 and a three bedroom is $1,034.
Leon concluded by adding his “thanks to the many stakeholders who made The Lofts at Sterling Mill a reality.”