You could buy a house for as little as $49,000 in Gastonia’s Loray Mill Village
You could buy a house for as little as $49,000 in Gastonia’s Loray Mill Village. The homes mostly built in 1901 and 1902 and once housed mill workers. The houses are typically 850-1,000 square feet and have one or two bedrooms.
The entire neighborhood, including the original Loray Mill, are part of a massive rehab and revitalization project.
Non-profit Preservation North Carolina bought the homes and says the quality construction and materials are still apparent. The group imagines these smaller, historic houses will be ideal for “small households” – think tiny house-loving millennials or down-sizing baby boomers who want a walkable community. Apartments are already available in the renovated mill building, the site of the infamous 1929 labor strike.
Preservation North Carolina calls the Loray Mill National Register historic district one of the largest of its kind in the country, with nearly 500 historic mill houses. PNC believes the neighborhood could become a bustling alternative to people priced out of historic hubs in Charlotte.
Jack Miser, the project manager of the Loray Mill Village Revitalization for Preservation NC, told me six other houses similar to the ones now on the market have already sold. About half of those were bought by owner-occupiers, and the other half were bought by people who are fixing the houses up to sell them.
The same deal applies to the six homes now available: You can fix the house up to flip it, but you can’t rent it – all buyers must be owner-occupiers, or reselling to an owner-occupier.
The properties available range from homes needing a total renovation to move-in ready.
(Charlotte Agenda, 11/13/17)