The National Trust Community Investment Corporation (NTCIC) is honored to have played a crucial part in the financing of the $85 million adaptive reuse of the historic Wilkins Rogers Mill complex in Ellicott City, Maryland. Spearheaded by Terra Nova Ventures with Alexander Design Studio as the architect and Southway Builders as the general contractor, the Ellicott Mill project will transform the long-dormant industrial site into a dynamic mixed-use community featuring 190 residential apartments, a restaurant space overlooking the Patapsco River, and ground floor retail space, while preserving one of Maryland’s most significant industrial heritage landmarks.
Originally established in 1774 by the Ellicott brothers, the mill was the first commercial flour producer in Maryland and a regional pioneer in industrial automation. It helped catalyze Baltimore’s rise as a leading flour export hub. Through multiple owners, including the Gambrill family, the Doughnut Corporation of America, and finally the Wilkins Rogers Company, the site has remained a cornerstone of the area’s industrial identity for over two centuries. The mill officially ceased operations in 2020, opening the door to a visionary redevelopment that honors its rich past.
“NTCIC is honored to have played a pivotal role in the financial closing of the Ellicott Mill redevelopment. This unique investment reflects our commitment to preserving historic assets through multiple forms of strategic financing that foster economic development and community revitalization.”
- Amanda Bloomberg
- Senior Acquisitions Manager
NT Impact Capital provided a $7 million bridge loan to assist in financing the project, marking NTCIC’s newest subsidiary’s first official investment. NTCIC supported the revitalization through an equity investment in the $10 million in Federal Historic Tax Credits generated by the project, along with $3 million in State Historic Tax Credits. NTCIC served as the Federal and State HTC sourcer, underwriter, and closer, as well as the Federal HTC fund manager and Federal and State HTC asset manager.
The redevelopment will preserve the architectural integrity of the complex, which includes the main mill building, nine historic silos, a boiler house, and an attached machine shop. The three-story warehouse will receive a two-story new construction addition approved by the National Park Service, further blending history with modern design.
“This is one of the most exciting and impactful projects I have been associated with over my nearly 50-year development career, with its deep historic roots, its association with the American Industrial Revolution and the first railroad in the nation, and the contribution that the transformation of this historic high-rise former flour mill makes to the community.”
- David Tufaro
- Founder & Principal of Terra Nova Ventures
Located on the main thoroughfare and within walking distance of downtown Ellicott City, Ellicott Mill offers convenient access to both Baltimore and Washington, DC. The project promises to become a landmark example of how historic preservation and smart growth can work together to serve a community for generations to come.