MOUNT AIRY -- Mount Airy commissioners took a high dollar step this week in doing something with the former Spencer's Mill property.

"There will be an 80-room hotel and banquet hall which will be about $11.5 million, 80-unit market rate apartments which will be $12 million, and performing arts and business center which is $5 million," said Shirley Brinkley, City of Mount Airy commissioner.

Three contractors to work on three buildings for a $28.5 million investment. The former tobacco factory and site of many other businesses has sat vacant since 2007. Mount Airy officials are happy to move forward to change that.

"Our city is growing and thriving, but without the tax credits, our buildings would have not have happened, and now we're going to get people back in that want to visit for other reasons besides Andy Griffith, which is great to start with, but Mount Airy has a great deal to offer," said Brinkley.

State tax credits helped make the decision easier to approve. The city expects to receive $4.5 million from that.

"The city will be responsible for the infrastructure, infrastructure of our roads. Unless changes come, we will be putting in a road from downtown Main Street two blocks up," said Brinkley.

Once the project's groundbreaking gets underway, officials are hoping to hire local contractors to boost the economy then have even more locals benefit from the entire investment.

"The people living here will use downtown more than they have, which will inspire more businesses downtown, and I think the benefits are hard to quantify," said David Rowe, mayor of the City of Mount Airy.

The city doesn't expect construction to start for another two years.