AUGUSTA, Ga – A transformative chapter is set to unfold for a historic landmark in downtown Augusta. On Tuesday, the Augusta Canal Authority finalized the sale of the iconic Sibley Mill, marking a significant milestone for the area.

Constructed in 1882, this former textile mill has long stood as a testament to the city’s industrial past.

The buyer, Crossgate Partners, an Atlanta-based development firm renowned for its successful renovation of King Mill, acquired Sibley Mill for $2 million. Their ambitious plans for the site involve converting it into 215 market-rate apartments, featuring modern amenities such as a pool and a gym.

Russ Gambill, the interim director of the Canal Authority, expressed optimism that this redevelopment will breathe new life into the historic structure, preserving its legacy while embracing a vibrant future.

The Canal Authority’s interim director, Russ Gambill, said this will give the historic mill new life.

“It’s on a historical register of historic places. And people want to live in that kind of environment where something old has been renovated to make new again. You know, this company does a fantastic job. They’re experienced in renovating old textile mills,” he explained.

The Canal Authority kept ownership of the hydroelectric plant on the property and will continue to use it to generate power.

Construction is expected to start at the beginning of next year and take about a year to complete.