The Pineville Town Council voted unanimously Tuesday to hire the Development Finance Initiative to attract private investment for the redevelopment of the former Cone Mills textile site.
The Development Finance Initiative is a nonprofit at the UNC Chapel Hill School of Government that provides finance and development expertise. Its services include assessing distressed properties, creating requests for proposals, advising on development incentives, marketing, and evaluating development proposals and contracts.
Town Administrator Haynes Brigman called the $65,000 contract the “very first step” in redeveloping the 28 acres into a mixed-use project. Cone Mill closed in the early 1990s, and the town acquired the property late last year. Parts of the site were demolished in 2014.