Self-Help Ventures Fund's bid of $8 million in a foreclosure auction for the historic Revolution Mill Studios property in Greensboro was successful and the Durham nonprofit will take ownership of the building.
In an announcement, Self-Help said it is currently making plans for future development of the former Cone Mills cotton mill on Yanceyville Street. The developers who started the restoration of the mill several years ago, Frank Auman and Jim Peeples, renovated a large portion of the building but halted construction in 2011 because they lacked financing and defaulted on debt payments.