UTICA, N.Y. -- An old textile mill in the city of Utica will soon be transformed into loft apartments.
The Globe Woolen Company Mill campus in Utica's Brewery District includes several buildings on a six-acre lot.
Most of the buildings were erected in the 1870s and still exist today.
KCG Development is currently in the process of purchasing the old mill, and expect to close on the sale by mid-April.
Their plan is to build about 130 loft apartments and turn the first floor into commerical and office space, adding to the excitement and already busy atmosphere of Utica's Brewery District.
"Kind of hearing what some of the folks want to do with that district and obviously the tremendous success of the brewery right across the street, I think this has potential to be a real driver of rippling economic impact," said Anthony Ceroy, KCG Development.
Ceroy says they plan on investing more than $30 million into redeveloping the property.
Construction is scheduled to begin this year, with hopes of completing the project by spring or summer of 2018.