Danville House

This historically designated, 106-unit property is a senior community (restricted to individuals aged 62 and over) with a Section 8 HAP Contract covering 99% of the units (excluding the super’s apartment). The property consists of two buildings – one ten-story structure and one three-story structure – in the heart of the Downtown Danville Historic District in Danville, VA on the North Carolina border. The ten-story Neo-Adamesque style building was constructed in 1926 as a hotel – known as “Hotel Danville” – and converted to senior housing in 1983. The three-story building was constructed in 1890 as a city market and added to the hotel in 1926. In 1984, the property was listed on the National Park Service’s National Register of Historic Places. 

Danville, known as the “River City” and the “City of Churches,” is an independent city and a historical community located in south central Virginia on the North Carolina border. Danville is situated 180 miles west of the Atlantic coast and 50 miles east of the Blue Ridge Mountains. The city is bounded by Pittsylvania County, VA to the north and Caswell County, NC to the south. The Downtown Danville Historic District is a national historic district located at Danville, Virginia. The district includes 48 contributing buildings in the central business district of Danville. It includes a wide range of commercial, industrial, and institutional building types dating from the 1870s to the present. The district includes notable examples of the Late Gothic Revival, Tudor Revival, and Romanesque Revival styles. Notable buildings include the Danville City Auditorium (1932), Morotock Manufacturing Company (1907), J. T. Stovall Tobacco Factory (1876), Kingoff Building (1892), American National Bank & Trust Co (c. 1934), Woolworth’s Building (1937), Southern Amusement Building (1922), Elks Home (1912), Danville Post Office (1932), Masonic Building (1921-1922), and Danville City Market (1930s). Located in the district are the separately listed Hotel Danville and the Danville Municipal Building.^[3] This twenty-five-acre urban historic district encompasses the core of southern Virginia’s leading tobacco and textile manufacturing city. The district has been the commercial and administrative heart of Danville from the 1790s to the present. Spread through the area are retail establishments, banks, hotels, theaters, lodges, and several tobacco factories built from the 1870s through the 1920s. The city’s prosperity and the importance of the activities these buildings housed are reflected in the architectural sophistication and often monumental scale of this urban fabric. The high-rise Masonic Building and the Hotel Danville, both dating from the 1920s, still dominate the skyline. At least ten buildings, the Municipal Building and U. S. Post Office among them, were designed by local architect J. Bryant Heard. Despite gaps, the wide range of styles here lends much visual variety to the streetscapes. 

• The purchase of a senior, 100% Section 8, historically designated property will have a long-term upside and will contribute to fulfilling our organizational mission. 
• NHPF has the opportunity to receive a total cash fee of approximately $1.8 million at redevelopment. 
• HallKeen, a known and respected real estate company and long-time property management partner of NHPF, currently owns and manages the property. As such, we will likely not experience major surprises and can expect a smooth acquisition process. We will retain HallKeen as the property manager post-acquisition. 
• Danville House will mark NHPF’s fourth acquisition in Virginia and will thus facilitate further expansion in the state. Pursuing the project will also increase our knowledge of state financing processes and expertise in this new submarket. Note that Virginia Housing does not have a developer fee deferral requirement. 
• According to Virginia Housing, the State is heavily focused on affordable development in southside Virginia due, in part, to the recent construction of a Ceasars Casino just 2.5 miles from the property. In fact, Virginia Housing’s next regional board meeting will be held in Danville in April 2024. Working with the local housing authority will give us an opportunity to identify other potential deals in this growing submarket. 

Renovations are set to get underway / completed: anticipated to start in 2026