Sen. Mark Warner caught a glimpse of the some of the hottest upcoming new digs in town during a tour of the Dan River Falls residential and commercial project in downtown Danville Friday afternoon.
Warner was joined by Del. Danny Marshall, R-Danville, Mayor Alonzo Jones and other local elected leaders from Danville and Pittsylvania County for a visit inside the facility that sits along the Dan River in the former Dan River Inc. White Mill building.
When talking about Danville to local officials in the community room of the development, he used the phrase “comeback city” and praised the project while speaking with reporters.
“It’s a sign of renewal,” he said of Dan River Falls and its refurbishment of the former mill structure.
Warner’s office pointed to the 190-unit endeavor as one of the largest private residential and commercial development and downtown revitalization projects in Danville’s history.
“Every time I come to Danville, there’s a little more energy, there’s a new project,” the veteran U.S. Senate Democrat told the Register & Bee. “I kind of feel like I can share my ideas, but what I also get is some really great ideas back from the community.”
Following the tour, Warner held a conversation on affordable housing with local officials from across Southside Virginia, including economic developers, community development partners, neighborhood groups and affordable housing stakeholders.
He gave an update from Washington and talked about his work at the federal level to increase access to homeownership, narrow the wealth gap and invest in affordable housing.
Warner’s visit was part of a two-day swing through Central and Southwest Virginia, including stops in Farmville, South Boston, Martinsville, Stuart and Dublin.
He credited Danville with birthing the term “comeback city” and praised the River City for emerging from challenging times caused by the demise of the tobacco and textile industries a few decades ago.
The community could’ve “thrown in the towel,” Warner said, but now a lot can be learned of workforce training from Danville and Pittsylvania County.
At the federal level during the terms of presidents Donald Trump and Joe Biden, the government spent $5 trillion toward such pandemic-related items as Paycheck Protection Program loans for employers, unemployment benefits, Warner said.
“The amazing thing about that was, in that $5 trillion, we really did nothing for housing,” he said.
There may have been rental assistance, but nothing was done regarding housing supply, Warner added.
Legislation introduced by Democrats is under consideration at the federal level, including the Low-Income First Time Homebuyers (LIFT) Act, Warner said.
The bill would establish a program at the U.S. Department of Housing and Urban Development, in consultation with the Department of the Treasury, to sponsor low fixed-rate 20-year mortgages for first-time, first-generation homebuyers who have incomes equal to or less than 120% of their area median income.
The treasury would subsidize the interest rate and origination fees associated with the 20-year mortgages so that the monthly payment would be in line with a 30-year Federal Housing Administration-insured mortgage.
Also, Warner and Sen. Tim Kaine are co-sponsoring the Downpayment Toward Equity Act, which would provide federal grants, administered through local entities, to aid first-generation homebuyers with qualifying expenses toward buying their first home — including downpayment costs, closing costs, and costs to reduce the rates of interest.
In some areas, including Danville, “communities come back, there’s great things happening, but too often what happens is that your teacher, the firefighter, nurse cannot afford to live in the community they work in,” Warner said.
“We need to figure out how we can allow folks who make our cities and counties grow actually live in the county they work in,” Warner told officials.
Also, while there are incentives for developers to build new residential developments, there aren’t enough for owners to renovate old, dilapidated single-family homes, he said.
Connected to the housing issue is making sure there are viable workers who can afford their own homes. Marshall told Warner during the conversation he and other members of the General Assembly were working with Virginia Department of Corrections officials on offering workforce training for incarcerated people.
“When those people are released, they will at least have a marketable skill,” Marshall said.
After the conversation with community leaders, Warner recalled Danvillians saying of the old White Mill, “When are they going to tear that building down? It’s an eyesore.”
But now it has come back with “cool apartments,” he said.
He added that more ways are needed to generate new housing stock and make sure there ways for residents to achieve homeownership and build generational wealth.
Also, old, abandoned strip malls and store fronts can be converted to housing stock, Warner added.
As for the issue of affordable housing, increasing the supply will help bring down rental prices, he pointed out.
“If you end up with more housing at this level of rent [at Dan River Falls], people that may be sitting in that $600 or $800 apartment, if they can afford to move up here, that’s going to make more availability at those lower rates,” he said. “If there are not people filling them, then those rates will go down.”
Explaining the current situation of high rents, Warner added that “we’ve had years where we’ve not increased the supply and that meant when something did come in, it could get priced too high.”
Rental rates at Dan River Falls are set, with ranges based on size, views and whether they’re market-rate or workforce housing, Alexander Co. spokesperson Kendra Bishop told the Register & Bee in July.
One-bedroom apartments are $1,200 to $1,500 per month, with two-bedroom units at $1,500 to $1,700 per month. Three-bedroom apartments will be $1,800 to $2,100 per month, she said.
Workforce apartments are for those who earn less than 80% of the area’s median income. To qualify for one, a prospective tenant’s annual household income must be at or below $58,640 for 2024, she said.
About 20% of the 150 apartments will be workforce units.
Dave Vos, development project manager for The Alexander Co. who led Friday’s tour, told the Register & Bee that 75 of the 150 units will be ready Nov. 1, with the remaining 75 to be finished in January 2025.
Construction should start on the 40-unit second phase next month, Vos said.
Amenities include a grand club room with flexible spaces for a variety of activities, gathering spaces that can be reserved for meetings or celebrations, a fitness center, a grilling area, a studio space for yoga or body-weight exercises, a parcel room for deliveries, a pet wash room, interior bicycle storage, direct Riverwalk Trail access and a pet-friendly community with no breed or weight restrictions for dogs, according to the news release.
The first floor and eastern one-third of the second floor at Dan River Falls will be reserved for commercial space, with the lower level of the building being converted into 219 interior parking spaces for tenants.
The Alexander Co., through a partnership with the Danville Industrial Development Authority, began construction to revamp the former Dan River Inc. White Mill building along Memorial Drive in December 2022 for the residential and commercial project.
Applications can be completed online at danriverfalls.com, where prospective residents can view floor plans, rental rates and community amenities. Anyone with questions can contact the residential leasing team at info@danriverfalls.com or at 434-713-5751.
Dan River Falls’ leasing center at 206 N. Union St. will open Monday, Bishop said.
Its hours are 8:30 a.m. to 5:30 p.m., Monday through Thursday and 8:30 a.m. to 12:30 p.m. Friday.
Appointments are encouraged to ensure staff is available to assist, but interested tenants are welcome to visit.
“We’re excited to be moving beyond digital leasing, and to be offering an in-person, local presence,” Bishop said. “Finish boards are also available for viewing at the leasing center, which showcase the cabinetry, counter tops, paint colors and more.”
Read the original article here (John Crane, Danville Register and Bee)