26+/- Acres Zoned for Multifamily Development
Bordering Daniel Memorial Park in Downtown Danville
Marketing description
26 Acres Zoned By Right for High Density Multifamily with Utilities Available to the Site
Danville represents a classic early-cycle secondary market: accelerating job growth, measurable housing deficit, minimal institutional competition, and a local government aligned with residential expansion. New multifamily product delivered at today’s basis has the potential to achieve outsized stabilized yields relative to larger Virginia metros while benefiting from long-term regional economic diversification.
The city is now attracting advanced manufacturing, logistics, healthcare, and technology-driven employers, generating thousands of new jobs and positioning the region for sustained economic expansion. However, housing production has not kept pace with employment growth, resulting in a documented shortage of both rental units and single-family homes.
ECONOMIC DEVELOPMENT NEWS:
Members of the Danville-Pittsylvania Regional Industrial Facility Authority unanimously voted Monday to approve an agreement to sell property at the Southern Virginia Megasite at Berry Hill to SAC III Acquisition,... https://virginiabusiness.com/berry-hill-megasite-data-center-stack-infrastructure/
An investment buyer has purchased the 927,500-square-foot Morgan Olson manufacturing facility at the Cane Creek Centre industrial park in Pittsylvania County, according to an announcement distributed Thursday by Glen Allen based...https://virginiabusiness.com/investor-buys-morgan-olson-plant-pittsylvania-county/
Investment highlights
High unit yield by right
Rural opportunity zone 2.0 eligible + located in a qualified census tract 51590001302
Site optionality:
In addition to conventional multifamily, the site would be suitable for Build to Rent, Mixed Income Apartments, or a phased multi-product development
Structural undersupply:
Documented demand demonstrates the need for hundreds of new apartments in Danville, especially institutional quality communities to offset aging rental stock
Economic inflection point:
The regional economy has diversified beyond its legacy textile base into advanced manufacturing and logistics, technology, and healthcare
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
