By Collin Huguley – Staff Writer, Charlotte Business Journal

Rock Hill's Knowledge Park efforts have been successful in drawing hundreds of millions of dollars in commercial and residential investments to the areas around its downtown and Winthrop University. That vision gained even more momentum today, as a formal groundbreaking was held for one of the area's marquee projects after years of planning.

The Keith Corp. is working with Springs Creative, Springsteen Properties Inc. and Capitol Broadcasting Co. Inc. on The Thread, a two-phase adaptive-reuse project expected to include more than $100 million in investment. It is redeveloping a three-story, 400,000-square-foot building into Class A office space, retail space and loft apartments. Work has been underway there for months, and the developer said at today's ceremony that the project's first phase is expected to be done no later than January.

After years of plotting the project and some changes to site plans, The Keith Corp. began construction at The Thread in mid-January. The first few months were largely focused on demolition efforts in some parts of the building before the project team moved to full construction of the new product in the last six to eight weeks. The revival of the former textile mill is a win for city leaders hoping to preserve Rock Hill's history within The Thread, which neighbors the University Center development.

"The thing that we like most about the thing that we see going on in this corridor is protecting the architecture because it protects the heritage of where we come," Rock Hill Mayor John Gettys said. "You realize that in Rock Hill, what we believe in more than anything is a sense of place. And the crown jewel of that is here at The Thread."

The first phase of The Thread will include approximately 170,000 square feet of office space and around 30,000 square feet of ground-floor retail. Springs Creative is the anchor tenant for the office element and is occupying around 30,000 square feet on the first of three floors at the structure. The second and third floors within the project's first phase each include around 70,000 square feet of office space.

The Keith Corp. has secured a tenant for nearly 17,000 square feet of the retail space as well, the developer announced today. A restaurant/entertainment concept from Mayfair Hospitality Group will operate a space at The Thread. It will be similar to Mayfair's Winston-Salem venue called Roar.

The first phase of The Thread will include a nearly $55 million investment. While delivery was initially scheduled for January 2024, The Keith Corp. office partner Jay Coleman said they are pushing for completion in December. Spaces in the first phase will be ready for tenant improvements in September or October, he added.

The Keith Corp. is in the final design stages for The Thread's second phase, which will include approximately 155 loft apartments and ground-floor retail space. The residential component was a new addition revealed earlier this year, as the project plan initially called for all office and retail space.

"Similar to Knowledge Park's main goal and purpose, which is to serve as Rock Hill's pedestrian-friendly corridor in the central part of town, we really wanted to play into that and be that connecting point," Coleman said. "This is the last link in the chain to finish that off. Our main goal and purpose with The Thread is to bring life back into this once-thriving and irreplaceable textile mill and create an experiential, mixed-use real estate project that our tenants and residents will be proud to call home."

The Keith Corp. and Springs Creative are leading a large Rock Hill redevelopment project called The Thread, which calls for the remake of a 400,000-square-foot former distribution building into office and retail space, along with loft apartments.

Choate Construction is leading the building efforts at The Thread as the general contractor. The project team also includes Little as the architect, First Horizon Bank as the financing partner and Moore & Van Allen as the legal partner. Thrift Commercial Real Estate Services is leading the retail leasing efforts, while Coleman is heading up office leasing for The Thread.

Plans for The Thread have been in development since well before the effects of the Covid-19 pandemic set forth a number of challenges at the project. Springs had owned the building for years before partnering with The Keith Corp. to form a vision for its revival to uplift Rock Hill's Knowledge Park effort.

"Just as Rock Hill is starting to really take off after literally 20 years of lackluster growth, we stand here today in two warehouse buildings built in 1946 and 1956 that were branded the Baxter Mill buildings," Springs Creative CEO Derick Close said. "They served their purpose well for over 70 years. However, it is time for a refresh. We moved our distribution and manufacturing down the road about 20 miles to Fort Lawn, hence the opportunity today for a new thread. This time next year, you are not going to believe what this outdated, old textile mill is going to launch in Rock Hill. The future ... is going to be exciting, it is going to vibrant and it is going to be lucrative."

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