Three local governmental bodies met Tuesday evening to approve future plans for the former Thomson Company facility.
The Landmark Group - which approached the McDuffie County Industrial Development Authority about turning the historic mill portion of the facility into apartments - was given the option to purchase the property.
The McDuffie County Commission and Thomson City Council approved the project at the request of the Development Authority.
"We will have taken a place that was a pretty sad case and turned it into a neighborhood that is something to be proud of," said Thomson City Administrator Bob Flanders.
The agencies also approved spending the funds necessary to stabilize the historic portion and the newer buildings that will be used to attract industry. Stabilization for both portions will cost $720,000 total.
During the stabilization process, Landmark will study the area to see if the project is viable. Should the company choose to proceed, it would invest some $8 million into renovating the buildings and transforming them into 53 apartments between 900 and 1,100 square feet.
"They pride themselves in the fact that when they finish something they keep it like it was when they finished," said Forward McDuffie's Don Powers.
Construction on the project - which will be called Thomson Mill Lofts and Village - is scheduled to begin in December of 2007. According to information provided to Mr. Powers by Landmark, it should be ready for occupancy by March of 2009.