One of Minneapolis' most revered historic buildings, the Pillsbury "A" Mill, is slowly transforming into affordable artist apartments on the east bank of the Mississippi River.

Project organizers recently led a group of local residents on a tour of the building, expected to be open for occupancy this summer. The A-Mill Artist Lofts will feature 251 units of affordable housing, in addition to artist studio and performance space.

Built in 1881, the mill is one of just four properties in Minneapolis designated as a National Historic Landmark. It remained in operation until 2003.

The cost of the project was estimated in 2012 to be about $138 million. About $46 million of that will coming from state and federal historic tax credits. The project also received about $2.4 million in state, Met Council and Hennepin County grants.

Watch the video above for a peak inside the property's conversion, which is happening rapidly. The building's views are among the best in the city.