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Renovations are underway at the Pace Building (also known as the Wise Hundley building) located at 322-328 Main St.
Now branded as Pace on Main, River District Ventures LLC plans to convert this historic building into 14 one- and two-bedroom residential units and three commercial spaces. The residential units will feature high-end amenities, such as wood cabinets, stainless steel appliances, and tile bathrooms. The street-level commercial units will range between 1,500 to 2,100 square feet. This new project will bring approximately $1.8 million of new investment into the River District.
“We are really excited to be a part of the progress and continued redevelopment of the River District in Danville. We think, once completed, that Pace on Main will build on the existing momentum to reinvent downtown,” said Erik Wishneff, partner of River District Ventures LLC. “Finally, we think that taking a building that had fallen into such a state disrepair and making it an attractive asset again will hopefully give others confidence to invest in Danville as progress continues.”
Corrie Teague, assistant director for the Office of Economic Development, thanked the partners of River District Ventures for bringing this historic building back to life.
“This building is a very visible building in the River District. Due to its location at the bottom of Main Street and its poor condition, its redevelopment has been a high priority to the office," Teague said. "Not only will this project improve a building, it significantly improves the appearance of the entire 300 block of Main Street.”
The developers plan to complete the commercial space by late summer and the residential space by October. Furnished residential units will also be available for lease. For more information about Pace on Main, visit www.pacedanville.com.