Capitol Broadcasting Buys Former Textile Mill

Posted June 7, 2007 5:55 p.m. EDT

— Capitol Broadcasting Co. has purchased the site that formerly housed Rocky Mount Mills and plans to redevelop it as a mixed-use project.

The purchase includes 50 acres of land, a 300,000-square-foot factory and about 30 mill houses, said Michael Goodmon, the project manager for Capitol Broadcasting's real estate division.

Goodmon declined to provide the sale price paid to Kip Meadows, the former owner. No time frame for completing the project has been set, Goodmon said.

Capitol Broadcasting is the parent of WRAL. The company previously redeveloped a former cigarette factory in downtown Durham into offices and restaurants.