The complex also includes the Ace Dye Works mill on the south side of the river, which has been converted into lofts.

The site was first used for industrial purposes by the Greene Manufacturing Company, which built a wooden structure in 1809 and two later stone mills.

[2] In 1885, the site was purchased by B.B.& R. Knight Co., one of the largest textile companies in Rhode Island at the time, who marketed their cloth under the Fruit of the Loom label.

In 2004, the Royal Mill was purchased by Struever Bros. Eccles & Rouse, which began a complete renovation of the site, including the adjacent stone dam, now used to produce hydropower.

The Royal Mill now contains 250 apartments, and is the focal point of a revitalized riverfront that contains a public walking path along the river.