Since its shuttering in 1999, the mill has stood vacant. Cherokee Investment Properties, a Raleigh-based real estate venture capital fund, purchased the mill in 2001 and undertook brownfield cleanup of the site. In 2005, Cherokee announced plans to redevelop the mill site as a mixed use area, rehabilitating most of the mill structures to National Register standards. The project encountered multiple obstacles and has been axed. The property is now on the market.
The mill village remains largely intact in 2009. A handful of commercial buildings stand as a reminder that the mill village had its own commercial area, although it always remained connected to downtown Mooresville’s commercial center. Two original churches still stand, although one has grown and been modified so that the original structure is no longer discernable. The other has been converted into apartments. The most significant change has occurred on Main Street, where a boarding house and two stick-built storefronts were demolished in the early 2000’s to make way for a large complex of vinyl-clad apartments.
Nearly 70% of the village is owned by individual, mostly absentee landlords. In the last 3-5 years, during the refinancing boom, renovation activity accelerated as new landlords took the reigns. Until 2008, no guidelines were in place regarding how renovations should be carried out. In spring 2008, the Town of Mooresville approved a Mooresville Mill Village Neighborhood Conservation Overlay (NCO) District.