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CITY COUNCIL OPTS TO ALLOW PRESERVATION NC TO MARKET THE GREY'S HOSIERY MILL BUILDING AND PROPERTY

After many years of indecision on what to do with the "city owned" Grey's Hosiery Mills property on Grove Street, City Council decided Thursday night to allow the property to be marketed by a group with a successful track record of marketing historic properties.

The Hendersonville Times-News is reporrting Friday that by a 4-1 vote, Hendersonville City Council approved a plan to allow Preservation North Carolina to market, sell and profit from the sale of the city’s last historic industrial building Thursday night.

Council members Jeff Miller and Steve Caraker noted that they were running out of time to secure a developer for the Grey Hosiery Mill with the sunset of a state tax credit looming on the horizon.

Councilman Jerry Smith preferred to try to sell the property through an auction first and said that if the city didn’t get any respectable bids, it could always allow PNC to take over the land at that point.

City Manager John Connet said three developers have expressed interest in the property. He said PNC has a national reputation for successfully taking historic parcels threatened by demolition or disuse and connecting them with developers who protect the site’s historical integrity.

He recommended the city maintain ownership of the property, but give PNC “the option to receive the property as a donation, if they were able to find a suitable project. So ultimately they would be like a real estate agent. They would market the property, vet any proposals and look for the best option of using the property. They would suggest that we give them one year… to market the property and evaluate all proposals.”

He added, however, that the council would have “limited control” of the project and any proceeds from the sale of the property would go to PNC to support the nonprofit.

 

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