Historic mill sold to developer for restoration

May 25, 2007

AUGUSTA, Ga.--Clay Boardman of Augusta Capital, LLC tells News 12 he is purchasing Augusta's historic Sibley Mill from Avondale Mills, Inc.

Boardman has previously purchased and restored Enterprise Mill and purchased Sutherland Mill for restoration in March.

Sibley Mill, located at 1717 Goodrich St. along the Augusta Canal, was erected in 1881 as a cotton mill. A tall chimney on the grounds is all that remains of the Confederate Powderworks that were dismantled after the Civil War.

Avondale closed the mill a year ago, citing financial difficulties due to the Graniteville train wreck and foreign competition.

A letter from Mr. Boardman announcing the purchase follows.

I am happy to announce that I have just executed a Sales Contract to purchase the historic Sibley Mill from Avondale Mills, Inc. I will have a period of time to complete the various assessments needed on a project of this size and to conduct the necessary feasibility studies. I can make no representations as to what the final rehabilitation will look like until the above actions are completed. But, I will say that, after having completed Enterprise Mill, purchasing and begging the restoration of Sutherland Mill and other historic rehabilitations in the past, I will be sensitive to the historic nature of this community treasure and to the City, the Canal and the neighborhoods that surround this Mill.

The primary owners of Avondale, the Felker's, have been wonderful to deal with and are very supportive of my plans. They understand the importance of the structure and the impact the mill has had on so many lives over the course of the last 127 years. They wanted the Mill preserved in a way that the City would be proud of and that is my intent. They had other options that may have meant that they could have realized more economic gain, but chose me and my team to undertake this project. I give them great credit for their concern for our community.

Clay Boardman
Augusta Capital, LLC

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