Aiken, South Carolina, October 23, 2025
News Summary
Aiken, South Carolina, is set to undergo significant revitalization with the Vaucluse Mill Lofts project, financed by a $31 million FHA loan. The project will transform the historic mill into 140 market-rate apartments, blending modern living with rich heritage. This initiative not only preserves local history but also boosts the housing market and local economy by creating jobs.
Aiken, South Carolina, has taken a significant step towards revitalizing its historical fabric with the announcement of a new residential project. Churchill Stateside Group, LLC (CSG) has successfully closed a $31,054,000 FHA 221(d)(4) Construction Advance Loan aimed at financing the Vaucluse Mill Lofts project. This initiative focuses on adaptive reuse and substantial rehabilitation of the historic Vaucluse Mill, which will be transformed into 140 market-rate apartment units.
The Vaucluse Mill Lofts will be located in the Village of Vaucluse, known as the oldest mill village in South Carolina. This project is not only about adding new housing options but also preserving the heritage of the area, as it contributes to the local landscape and history.
The FHA 221(d)(4) loan, which is insured by HUD, provides long-term, fixed-rate financing specifically designed for multifamily housing projects nationwide. The Vaucluse Mill Lofts will offer a varied selection of apartment options, including one-, two-, and three-bedroom units, catering to a wide range of residents.
Amenities and Interior Features
Future residents of the Vaucluse Mill Lofts can expect an array of attractive amenities designed to enhance their living experience. These amenities include:
- An outdoor pool
- A fitness center
- A clubhouse
- Gated parking and access
- Extensive common areas
The interior of the apartments will feature modern designs and upgrades, such as:
- Granite countertops
- Wood cabinetry
- Exposed brick
- Ceilings at 14 feet or higher
- Private patios or balconies
- Full appliance packages with in-unit washer and dryer connections
Community Impact
Officials from CSG noted that the Vaucluse Mill Lofts project exemplifies adaptive reuse, supporting local heritage while boosting the housing market. The project’s development is expected to strengthen the local economy by creating jobs and increasing housing availability, important factors for community growth.
CSG is recognized as a leading national entity in multifamily and affordable housing finance. The organization not only engages in this specific project but also offers a range of financial solutions through various channels, including HUD, USDA, renewable energy, and tax credit programs. Currently, CSG manages over $6.5 billion in assets and enjoys robust relationships with a multitude of corporate investors. The organization is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender, as well as a Ginnie Mae issuer, seller, and servicer.
Conclusion
The Vaucluse Mill Lofts project is a notable advancement for Aiken, South Carolina, aiming to blend modern living with historical significance while addressing the local housing needs.
FAQ
What is the amount of the loan secured by Churchill Stateside Group?
$31,054,000 FHA 221(d)(4) Construction Advance Loan
How many apartment units will the Vaucluse Mill Lofts comprise?
140 market-rate apartment units
Where is the Vaucluse Mill located?
Aiken, South Carolina, specifically in the Village of Vaucluse, the oldest mill village in the state.
What type of financing is the FHA 221(d)(4) loan?
The FHA 221(d)(4) loan is insured by HUD and provides long-term, fixed-rate financing for multifamily housing projects nationwide.
What amenities will residents of Vaucluse Mill Lofts enjoy?
Residents will enjoy an outdoor pool, fitness center, clubhouse, gated parking and access, and extensive common areas.
What are some interior features of the apartments?
Interior features include granite countertops, wood cabinetry, exposed brick, 14-foot or higher ceilings, private patios or balconies, and full appliance packages with in-unit washer and dryer connections.
What is the mission of Churchill Stateside Group?
Churchill Stateside Group is recognized as a national leader in multifamily and affordable housing finance.
Key Features of Vaucluse Mill Lofts Project
| Feature | Description |
|---|---|
| Loan Amount | $31,054,000 |
| Housing Units | 140 market-rate apartments |
| Location | Aiken, South Carolina (Village of Vaucluse) |
| Financing Type | FHA 221(d)(4) Construction Advance Loan |
| Amenities | Outdoor pool, fitness center, clubhouse, gated parking |
| Interior Features | Granite countertops, wood cabinetry, exposed brick, 14-foot ceilings, private patios |
| Management | CSG managing over $6.5 billion in assets |
| Community Impact | Supports local heritage while addressing housing needs |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- AI Journ: Churchill Stateside Group Provides $31,054,000 FHA HUD 221(d)(4) Construction Loan
- Eagle Tribune: Churchill Stateside Group Provides $31,054,000 FHA HUD 221(d)(4) Construction Loan
- Wikipedia: Adaptive reuse
- Google Search: FHA 221(d)(4) loan
- Encyclopedia Britannica: Multifamily dwelling
Author: STAFF HERE AIKEN
The AIKEN STAFF WRITER represents the experienced team at HEREAiken.com, your go-to source for actionable local news and information in Aiken, Aiken County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Aiken Horse Show, Aiken Bluegrass Festival, and polo matches at Whitney Field. Our coverage extends to key organizations like the Aiken Chamber of Commerce and the Aiken County Historical Museum, plus leading businesses in manufacturing and tourism that power the local economy such as Bridgestone and the Aiken County Visitors Center. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
