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DANVILLE, VA (2016)

River District Tower

NMTC financing for River District Tower, a mixed-use project.

Investment

  • NMTC Amount: $1,811,359
  • Total Project Cost: $25,021,880

IMPACT

  • 85 FTE jobs
  • 45 construction jobs
  • 48,900 patients served
  • Rehabilitation of a vacant or under-utilized historic structure.

Investor

Project Description

The City of Danville, Virginia was founded in 1793 and chartered in 1830. Like so many other manufacturing areas that have lost their traditional industries, the area has its challenges. Specifically, when Dan River Mills, the area’s longtime textile giant, closed its doors in 2006, it lost a business that at one time employed 12,000 people. The company left town and its most visible structure, the Dan River Research Building, remained vacant for many years. The NMTC project is the renovation of the Research Building to become River District Tower, a mixed-use medical office facility housing two primary medical tenants, among others. Danville Orthopedic Clinic, occupying two floors of the facility, provides for the diagnosis and treatment of disorders and injuries to bones, joints, tendons, muscles, ligaments, and nerves; and Danville Regional Medical Center, which occupies one floor, serves as an Accountable Care Hub, providing the community convenient access to a wide variety of health services.

MAP

Address: 109 Main Street, DANVILLE, VA 24541

Census Tract: 51590000500

PDF Profile

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