Introduction:
Welcome to Miamilx Property Solutions LLC, under the visionary leadership of Selim
Lahoud. Our firm is dedicated to pioneering transformative real estate projects that
combine innovation, sustainability, and community enhancement. One of our flagship
projects is Spinning Mill Living, a groundbreaking endeavor aimed at revitalizing a
historic spinning mill into a modern, eco-conscious residential complex.
Community Engagement and Partnerships:
At Miamilx Property Solutions LLC, we understand the importance of community
engagement and partnerships in realizing our vision for Spinning Mill Living. We are
committed to working closely with local stakeholders, residents, and organizations to
ensure that the project aligns with the needs and aspirations of the community. By
fostering open dialogue and collaboration, we aim to create a development that not only
meets market demands but also enriches the fabric of the Millbury community.
Building Features and Conversion:
The historic Spinning Mill at 190 West Street, Millbury, Massachusetts, stands as a
testament to the town’s rich industrial heritage. With approximately 25,000 square feet
of space, this solid structure boasts a full heating system and operational elevator,
making it ripe for transformation into a modern, sustainable living space.
Conversion Approach:
• Miamilx Property Solutions is
committed to preserving the
historical integrity of the
Spinning Mill while repurposing
it for contemporary use. Rather
than resorting to conventional
demolition and new construction
methods, which often involve
significant environmental
impact, we advocate for
adaptive reuse as a more
sustainable alternative.
Environmental Benefits:
• Converting the existing building into Spinning Mill Living aligns with our core
values of environmental stewardship and sustainable development. By
repurposing an underutilized industrial asset, we avoid the need for extensive
land clearing and tree removal, thereby minimizing disruption to the natural
ecosystem and reducing carbon emissions associated with new construction.
Operational Readiness:
• The Spinning Mill was fully occupied just a year ago, highlighting its operational
viability for commercial use. With its robust infrastructure and existing amenities,
such as heating systems and elevators, the building is primed for adaptive reuse,
streamlining the conversion process and minimizing construction timelines and
costs.
Community Impact:
• The conversion of the Spinning Mill into Spinning Mill Living represents a
significant investment in the revitalization of Millbury’s historic downtown area. By
breathing new life into a vacant industrial property, we contribute to the economic
and social vitality of the community, attracting residents, businesses, and visitors
to the area.
Promoting Sustainable Practices:
• Miamilx Property Solutions is dedicated to promoting sustainable building
practices and reducing our environmental footprint. Through initiatives such as
installing a green roof, incorporating solar panels, and providing electric vehicle
charging stations, Spinning Mill Living sets a new standard for eco-friendly
development in Millbury.
Preserving Heritage:
• Beyond its environmental benefits, the conversion of
the Spinning Mill honors the town’s industrial heritage
and architectural legacy. By preserving the historic
character of the building, we pay homage to Millbury’s
past while embracing its future as a vibrant,
sustainable community.
In summary, the conversion of the Spinning Mill into Spinning
Mill Living represents a win-win proposition for both the
environment and the community. By repurposing an existing
industrial building, we minimize environmental impact,
support economic growth, and preserve Millbury’s rich
heritage for generations to come.
Project Overview:
Spinning Mill Living represents our commitment to sustainable
development and modern living. This project involves
transforming a historic Millbury spinning mill into 20 luxury twobedroom units, designed with eco-conscious features and
amenities. Our investment in Spinning Mill Living totals $3.5
million, with a focus on sustainability, community rejuvenation,
and modern living standards.
Strategic Development Plans:
Spinning Mill Living is designed with a strategic focus on
sustainability and energy efficiency. We plan to incorporate
green technologies such as green roofs, solar panels, and EV
charging stations to minimize environmental impact and
promote sustainable living. Our commitment to efficient design
and low-energy consumption materials ensures that Spinning
Mill Living will meet the highest standards of green
certification.
Efficient Unit Design and Sustainable Materials:
Each unit in Spinning Mill Living is meticulously designed to
optimize space and energy efficiency. We prioritize the use of
sustainable materials throughout the construction process,
including recycled materials, low VOC paints, and energy-
efficient appliances. By implementing these measures, we aim to reduce energy
consumption and create a healthier living environment for our residents.
Community Impact:
Our commitment to sustainability extends beyond the development itself. Spinning Mill
Living will contribute to the revitalization of the Millbury community, attracting residents
who share our vision of eco-conscious living. By fostering a sense of community and
environmental stewardship, we aim to create a model for sustainable development that
Expansion Potential:
Beyond its initial scope, Spinning Mill Living holds vast potential for expansion and
further community enrichment. With the additional land available, we envision the
possibility of adding more units, community spaces, or amenities that align with our
commitment to sustainability and modern living. This expansion not only enhances the
project’s profitability but also deepens its impact on the Millbury community, providing
more residents with access to eco-conscious housing and fostering a sense of
belonging and environmental stewardship.
Unit Features and Benefits:
• Efficient Design:
• Each two-bedroom, two-bathroom
unit at Spinning Mill Living is
meticulously designed to maximize
space and functionality while
minimizing energy consumption.
The layout prioritizes efficiency
and comfort, offering residents a
seamless living experience that
balances form and function.
• Highly Efficient Appliances:
• The units are equipped with stateof-the-art, energy-efficient
appliances that help reduce utility
costs and environmental impact.
From energy-star rated
refrigerators and dishwashers to
low-flow plumbing fixtures,
residents can enjoy modern conveniences while minimizing their carbon
footprint.
• Large Windows:
• Floor-to-ceiling windows flood the units with natural light, creating bright
and inviting living spaces that blur the boundaries between indoors and
outdoors. The expansive windows offer picturesque views of the
surrounding landscape, including
the nearby river and pond,
allowing residents to reconnect
with nature from the comfort of
their homes.
• Roof Deck Access:
• Residents have exclusive access
to rooftop decks, providing an
idyllic retreat where they can
unwind, entertain guests, and
soak in the beauty of their natural
surroundings. Whether enjoying a
morning coffee against the
backdrop of a sunrise or
stargazing under the night sky, the
rooftop decks offer a private oasis
for relaxation and contemplation.
• Living with Nature:
• Situated next to a river and a pond, Spinning Mill Living offers residents
the opportunity to live in harmony with nature. The serene waterfront
setting provides a tranquil backdrop for daily life, inspiring a sense of
peace and connection with the natural world. Residents can explore
walking trails, enjoy picnics by the water, or simply admire the beauty of
the landscape from their own doorstep.
• Modern Amenities:
• Beyond its natural surroundings, Spinning Mill Living offers a range of
modern amenities designed to enhance the resident experience. From
fitness centers and community gardens
to bike storage and electric vehicle
charging stations, residents have
access to a wealth of amenities that
promote health, sustainability, and
community engagement.
• Sustainable Living:
• Each aspect of the unit’s design and
features is carefully selected to
promote sustainability and reduce
environmental impact. From energyefficient lighting and HVAC systems to
eco-friendly building materials and
finishes, Spinning Mill Living embodies
a commitment to green living that
benefits both residents and the planet.
In summary, the two-bedroom, two-bathroom units at
Spinning Mill Living offer a harmonious blend of modern comfort, sustainable design,
and natural beauty. With efficient appliances, ample natural light, and access to rooftop
decks overlooking the river and pond, these units provide residents with a truly
exceptional living experience that celebrates the best of Millbury’s landscape and
lifestyle.
Expansion Potential:
The Spinning Mill Living
project offers significant
expansion potential, with
an additional 2 and 1/2
acres available for future
development. This allows
for the potential addition
of more units, further
enhancing the project’s
profitability and market
presence.
Financial Projections and Revenue Model:( pro forma is available upon request)
Spinning Mill Living is not only a testament to our commitment to sustainable
development but also a sound investment opportunity. Our financial projections are
based on meticulous market research, cost analysis, and revenue forecasting, ensuring
a comprehensive understanding of the project’s economic viability.
Income Projection:
• Rental Income: We anticipate generating a total annual income from rentals
amounting to $672,000. This projection is based on competitive market rates for
similar properties in the Millbury area, adjusted for the unique features and
amenities offered by Spinning Mill Living.
• Condo Sales: In addition to rental income, we foresee significant revenue
potential from condo sales, with an estimated total of $7 million. These sales
projections are conservative estimates based on market demand for ecoconscious, luxury housing options and the unique appeal of Spinning Mill Living.
Expense Projection:
• Construction Costs: Our initial investment in Spinning Mill Living is projected to
be $3.5 million, covering the acquisition, renovation, and development costs.
These costs include expenses related to green building materials, energy-
efficient appliances, and sustainable infrastructure to ensure compliance with
green certification standards.
• Operating Expenses: We have accounted for ongoing operating expenses,
including property management, maintenance, utilities, and taxes. These
expenses are essential for ensuring the long-term sustainability and profitability
of the project.
Profitability Analysis:
• Return on Investment (ROI): Our comprehensive financial analysis indicates a
strong ROI for Spinning Mill Living, with a projected profit margin that reflects the
project’s potential for generating substantial returns for investors.
• Cash Flow Analysis: We have conducted cash flow projections to assess the
project’s ability to generate positive cash flows throughout its lifecycle. These
projections account for both short-term and long-term revenue streams, ensuring
financial stability and resilience in various market conditions.
Risk Assessment:
• Market Risk: While we are confident in the demand for sustainable living spaces,
we acknowledge the inherent market risks associated with real estate
development. Our risk management strategy includes contingency plans, market
monitoring, and adaptive strategies to mitigate potential risks and maximize
returns.
• Regulatory Risk: Compliance with zoning regulations, building codes, and
environmental standards is crucial for the success of Spinning Mill Living. We
have engaged legal and regulatory experts to ensure full compliance with all
applicable laws and regulations, minimizing regulatory risk and safeguarding the
project’s reputation and profitability.
Long-Term Sustainability:
• Environmental Impact: As a green-certified project, Spinning Mill Living is
committed to minimizing its environmental footprint and promoting sustainable
living practices. By incorporating features such as green roofs, solar panels, and
EV charging stations, we aim to reduce energy consumption, lower operating
costs, and contribute to environmental conservation efforts.
• Social Impact: Beyond financial returns, Spinning Mill Living seeks to create
positive social impacts by fostering a sense of community, promoting wellness,
and supporting local economic development. Our commitment to social
responsibility extends to partnering with local organizations, supporting
affordable housing initiatives, and engaging residents in community-building
activities.
In summary, Spinning Mill Living represents not only a lucrative investment opportunity
but also a transformative development that aligns with our core values of sustainability,
innovation, and community engagement. With robust financial projections,
comprehensive risk management strategies, and a steadfast commitment to excellence,
we are confident in the success
and enduring impact of Spinning
Mill Living.
Green and Solar Initiatives:
At Miamilx Property Solutions
LLC, we are deeply committed to
sustainability and environmental
stewardship. Spinning Mill Living
embodies this commitment
through its innovative green and
solar initiatives, setting a new
standard for eco-conscious real
estate development.
Green Roof System:
• Spinning Mill Living will feature a state-of-the-art green roof system, designed to
enhance energy efficiency, reduce stormwater runoff, and improve air quality.
This living roof will be adorned with native vegetation, providing natural insulation
and habitat for local wildlife while reducing the urban heat island effect.
Solar Panel Installation:
• To further minimize our carbon footprint and promote renewable energy usage,
Spinning Mill Living will be equipped with a comprehensive solar panel
installation. These photovoltaic panels will harness the power of the sun to
generate clean, sustainable electricity, reducing reliance on traditional grid-based
energy sources and lowering operating costs for residents.
Energy-Efficient Design:
• Our commitment to energy efficiency extends beyond renewable energy
generation to encompass the entire design and construction of Spinning Mill
Living. We will utilize the latest advancements in building materials, insulation,
and HVAC systems to create a highly energy-efficient living environment that
maximizes comfort while minimizing energy consumption.
Low-Energy Consumption Materials and Appliances:
• Spinning Mill Living will be constructed using low-energy consumption materials
sourced from sustainable suppliers. From energy-efficient windows and doors to
eco-friendly flooring and cabinetry, every aspect of the development will prioritize
environmental sustainability without compromising quality or aesthetics.
• Additionally, all appliances installed in Spinning Mill Living units will be ENERGY
STAR certified, ensuring optimal energy efficiency and reducing utility costs for
residents. By choosing energy-efficient appliances, we empower residents to live
more sustainably while enjoying
modern conveniences and
comfort.
Green Building Certification:
• We are committed to pursuing
green building certification for
Spinning Mill Living, such as
LEED (Leadership in Energy and
Environmental Design) or
ENERGY STAR certification.
These certifications provide
independent verification of our
sustainability efforts,
demonstrating our commitment
to environmental responsibility
and enhancing the market appeal
of the development.
EV Charging Stations:
• In support of the growing demand for electric vehicles (EVs) and sustainable
transportation options, Spinning Mill Living will feature EV charging stations
onsite. These charging stations will enable residents with electric vehicles to
conveniently charge their cars, reducing greenhouse gas emissions and
promoting a greener, more sustainable lifestyle.
By integrating these green and solar
initiatives into the design and
operation of Spinning Mill Living, we
not only reduce environmental impact
but also enhance the quality of life for
residents, promote long-term cost
savings, and contribute to the global
transition towards a more sustainable
future.
Millbury Community Impact:
Our vision for Spinning Mill Living extends beyond creating a sustainable residential
community; it encompasses enriching the fabric of Millbury and fostering positive social
and economic outcomes for the town and its residents. By revitalizing a historic
landmark and introducing modern, eco-conscious living spaces, Spinning Mill Living will
serve as a catalyst for community development and growth.
In Millbury, Massachusetts, the economic landscape reflects stability and affluence,
setting a favorable stage for real estate investments like the proposed Spinning Mill
Living and Spinning Mill Boutique Hotel projects. With a median household income of
approximately $109,119, surpassing both Worcester County and Massachusetts
averages, Millbury boasts a financially robust population with significant spending
power. The area’s low poverty rate of 4.9% further underscores its economic stability,
reinforcing the viability of commercial ventures and real estate developments.
As per the information available, the average rent in Millbury for a 2-bedroom apartment
ranges around $2,308 to $2,487. This range is indicative of the market’s position as
somewhat above the national average, reflecting the town’s appealing living conditions
and the demand for quality housing. EcoSpin Living’s focus on sustainability and
community-oriented features may allow it to command rents at the higher end of this
range or possibly exceed it, given the growing consumer preference for eco-friendly
living options.
Historical Preservation:
• Situated in the heart of Millbury, the Spinning Mill holds significant historical value
as a testament to the town’s industrial heritage. Through meticulous restoration
and adaptive reuse, Spinning Mill Living will preserve this iconic landmark while
repurposing it for contemporary living, honoring Millbury’s past while embracing
its future.
Community Rejuvenation:
• Spinning Mill Living will inject new life into the surrounding neighborhood,
transforming underutilized industrial space into a vibrant residential enclave. By
attracting residents who value sustainability, community, and heritage, the
development will create a sense of place and belonging, fostering social
connections and neighborhood pride.
Economic Stimulus:
• The redevelopment of the Spinning Mill site represents a substantial investment
in Millbury’s economy, generating jobs, tax revenue, and economic activity. From
construction and renovation to ongoing property management and local spending
by residents, Spinning Mill Living will contribute to the town’s economic vitality
and long-term prosperity.
Sustainable Growth:
• By prioritizing sustainability and green building practices, Spinning Mill Living
aligns with Millbury’s goals for sustainable growth and environmental
stewardship. The development serves as a model for responsible urban
development, showcasing how historic preservation and modern amenities can
coexist harmoniously while minimizing environmental impact.
Enhanced Quality of Life:
• Spinning Mill Living will enhance the quality of life for Millbury residents by
providing a desirable living environment that promotes health, well-being, and
connectivity. From rooftop gardens and green spaces to EV charging stations
and walkable access to amenities, the development offers residents a balanced
lifestyle that prioritizes sustainability, convenience, and community.
Collaborative Partnerships:
• Miamilx Property Solutions LLC is committed to collaborating with local
stakeholders, government agencies, and community organizations to ensure the
success of Spinning Mill Living and maximize its positive impact on Millbury. By
fostering open communication, transparency, and collaboration, we aim to build
strong relationships and create shared value for all stakeholders involved.
In summary, Spinning Mill
Living represents more than
just a residential development;
it embodies a shared vision for
a vibrant, sustainable, and
inclusive community in Millbury.
Through careful planning,
thoughtful design, and strategic
partnerships, we are confident
that Spinning Mill Living will
leave a lasting legacy of
positive change and prosperity
for generations to come.
Miamilx.com