CHARLOTTE, N.C. -- Bessemer City is looking to one of it’s oldest buildings to make the town younger.

Developers are finalizing contracts for the $32 million redevelopment of the Osage Mill.

“We think it will benefit existing businesses, in the downtown specifically, but really the entire community,” Bessemer City economic development officer Josh Ross said.

The founder of Bessemer City built the textile mill in the late 1800’s. It’s been mostly vacant since the mid-90’s. By the end of the year, developers expect break ground on a 150-unit mixed use development including retail, commercial, and community space.  

“I think this is a project that will attract those that work in Charlotte or people who currently live in Eastern Gaston County,” Ross said.

The 260,000 square foot site more than matches the size of the surrounding 257,000 square foot business district; meaning the project will double the downtown. And the 400 residents it should attract, will bump the population up about 10%.

“I think you're starting to see more investment in downtowns,” Ross said. “Especially in smaller communities in North Carolina.”

Developers expect to break ground in the fall, and open up for residents by 2020.