Generation Development Group has broken ground on its first Silo City project. The $65 million restoration and adaptive re-use of the historic American Mill & Warehouse building will include both residential and commercial space. The company purchased the site three weeks ago for $2.8 million.
Built in 1906, the more than century old American Warehouse once functioned as both a storage facility and research and development operation for the American Malting Company. The complex is currently listed on the National Historic Registry and is positioned among a series of iconic grain mills and other turn-of-the-19th century structures that dot the riverfront.
The phase one restoration includes 168 residential units, ranging in size from studio, to one-bedroom, two-bedroom, three-bedroom, and a four-bedroom unit(s), with square footage between 405 sq. ft. and 1,910 sq. ft.
Additional common area amenities envisioned for the building include a wellness/fitness center, resident lounges and gathering spaces, offices and conference rooms, a business incubator, several large atriums, arts and exhibit spaces and hydroponic container farm. The structure will also have several exterior patio and outdoor spaces, with ornamental lighting, solar lighting, various coverings, niche gardens, public access pathways, water recirculation and retention features, and other environmentally conscious attributes.
As part of the preservation of the existing building and materials, the development team intends to utilize various salvaged materials during the adaptive reuse effort. This entails such features as exposed steel, polished concrete floors and columns, distressed brick, and original machines, carts, and railings. Many other industrial-themed furnishings, fixtures, and décor have been selected to be part of the interior and exterior design programs. Carmina Wood Morris is designing the project.
“We’re extremely honored to not only take on a historic restoration of this magnitude and significance, but also to help advance a community-driven vision for how we re-imagine the American Mill & Warehouse property,” said Marvin Wilmoth, Generation Development Group Managing Principal and Co-founder. “The overall revitalization of Silo City will have an important focus on facilitating meaningful growth by addressing the region’s need for affordable and mixed-income housing, as well as creating opportunities for economic and cultural advancement.”
“Our team has spent a significant amount of time engaging with area residents and neighbors, in order to truly understand the local community and culture,” said Anthony Ceroy, Generation Development Group Managing Principal and Co-founder. “As a result, we believe this people-first approach will yield a better, more genuine end product, while also replicating much of the success we experienced with our AP Lofts at Larkinville development.”
Long term, the developer plans to revitalize much of the Silo City site to create 400 apartments, office space, retail, exhibition, and gallery space.