Salisbury, N.C (Friday, February 20, 2026) – On Tuesday, February 17, 2026, the Salisbury City Council selected DreamKey Partners and Self-Help Ventures Fund as their preferred development team for the phased redevelopment of the publicly owned 13-acre former Kesler Mill site into a mixed-income neighborhood.
The Council’s endorsement marks the beginning of a negotiation period with the selected development partners that will include the execution of a Memorandum of Understanding (MOU), community engagement, and the execution of a Development Agreement. The development team, working with Raleigh- and Charlotte-based architecture firm Cline, envisions approximately 150 residential units designed to serve families and seniors across a range of income levels.
“The Kesler Mill site redevelopment is a key opportunity to bring much-needed housing to Salisbury’s seniors and low to moderate-income working families,” said Mayor Tamara Sheffield. “Although this will be a gradual, long-term project, our partnership with this experienced team ensures we are moving in the right direction.”
Selected through a competitive process with eight applicants, DreamKey Partners and Self-Help Ventures Fund are both North Carolina-based 501(c)(3) nonprofit organizations with decades of combined experience in affordable housing development, community development finance, urban design, and placemaking. Fred Dodson, Executive Vice President of Real Estate at DreamKey Partners said, “We are honored to be selected by the City of Salisbury for this transformative opportunity. The Kesler Mill redevelopment represents exactly the kind of community-centered work DreamKey Partners is committed to in growing communities like Salisbury. We are excited to partner with Self-Help and the City to create housing opportunities that serve working families and seniors.”
Dan Levine, Director of Real Estate for Self-Help, added, “We have served Salisbury residents for years through our local Self-Help Credit Union branch, home mortgage lending and other programs, and we’re thrilled to work alongside neighborhood residents, the City and DreamKey to expand our investment in the community at the Kesler Mill site.”
With architecture by Cline, the North Carolina-based multidisciplinary architecture and design firm, and site design by LandDesign, Kesler Mill will set a new standard in affordable housing.
"We are honored to collaborate on this transformative development. Cline’s architectural vision and expertise in creating dynamic communities will establish a new benchmark for high-quality, mixed-income housing for the City of Salisbury and beyond,” says Jason Lettie, Partner & Affordable Housing Market Sector Leader.
The vision for the site as a mixed-income neighborhood supporting rental, homeownership, and senior housing options is the result of years of community engagement and pre-development analysis. City officials emphasized that the project’s success will depend on a phased implementation strategy and competitive financing tools, including the Low-Income Housing Tax Credit.
“We are incredibly appreciative for the hard work and guidance from our partners at the University of North Carolina Development Finance Initiative who have helped us get to this exciting milestone,” said Planning and Neighborhoods Director Hannah Jacobson. “We have significant work ahead. To come to fruition, the approximately 150-unit development will require a phased approach and will rely on the availability of the competitive Low-Income Housing Tax Credit. We are thrilled to have DreamKey and Self-Help join us in this journey.”
Additional opportunities for public engagement will be announced as the City and its development partners move forward with planning and due diligence activities.
The City of Salisbury is located in the heart of the Piedmont region of North Carolina, midway between Charlotte and Greensboro. Salisbury is the county seat of Rowan County, and provides a full range of municipal services, including law enforcement, fire service protection, zoning and code enforcement and water and sewer systems. For more information regarding the City of Salisbury and its services and departments, please visit us on the web at www.salisburync.gov. To receive updates regarding local initiatives, meetings, programs and events, please follow us on Facebook at https://www.facebook.com/CitySalisburyNC.