In what will forever be known to locals as the White Mill Building, once part of the sprawling Dan River Inc. operation, 40 more apartments are now available, The Alexander Company reported this week.
In the first phase, 150 apartments became home to more than 275 people.
The roughly $110 million makeover of the iconic building is a partnership between The Alexander Company, a developer of historic buildings, and the Danville Industrial Development Authority.
Funding comes from state and federal historic tax credits, a workforce housing loan and an equity contribution from the local industrial development authority.
“Dan River Falls represents what’s possible when vision meets collaboration,” Joseph Alexander, president of The Alexander Company, wrote in a prepared statement. “This project has been embraced by the community from day one, and the energy around this next phase underscores the momentum behind Danville’s continued revitalization.”
For decades, the 650,000-square-foot building sat idle, a reminder of Danville’s glory days when textile was king. In fact, perched atop the building was the welcoming phrase “Home of Dan River Fabrics” that greeted drivers coming into downtown.
The revitalization of Dan River Falls has been viewed by economists as another beacon of hope for a downtown area — called the River District — that is steadily growing to become a living and commercial space to many.
