Sibley Mill Sale Could Bring $75M Mixed-Use Development to Augusta

The Augusta Canal Authority might sell Sibley Mill this week. The sale would pump $75 million into a property that's been vacant for almost 20 years. This deal represents one more piece of downtown's comeback as old mills get new life.

Russell Gambill acts as executive director for the Augusta Canal Authority. He thinks this project will change everything around it. "Having two mills restored with that many people in that area, it's going to turn Harrisburg around," Gambill said, per WRDW. "That's going to drive restaurants and cafes and everything else. It's going to drive economic development."

Enterprise Mill and King Mill already made this switch. They turned into spaces where people work, live, and eat. King Mill hit 80% occupancy quickly after opening 280 units, proving folks want these conversions.

Havird Usry partners with Fat Man's Hospitality Group. He says the shift matches what downtown requires. "We don't want just food and beverage down here. We want offices, we want retail, we want people living down here," Usry said.

The Canal Authority faces a $363,000 budget gap next year. The sale brings them $2 million. Gambill said the money helps when problems hit, like when the canal got drained for 60 days this year.

Infrastructure needs the cash too. "We would also use a lot of those funds to upgrade our current infrastructure. We'd improve our hydro plants, make them more efficient, so more uptime, so we generate more revenue," said Gambill.

These buildings give residents something special, according to Usry. "There's some true character to where you're living and some history to where you're living," he said.

Construction might start in early 2026 if the sale wraps up this week. The work continues what Enterprise Mill began two decades ago when it sparked downtown's revival.