Historic real estatedevelopment team, Ross Fickenscher and Garrett Shifflett, today announced plansfor the former Durham Hosiery building located at 523-525 Lynn St.
With construction anticipated to begin in May, this duo plans transform this property into a mixed commercial and residential use. There will be approximately 30,000 square feet of commercial space within the building, targeted toward office and restaurant tenants. In addition, there will be 40 one-, two-, and three-bedroom residential units. Amenities will include a full service fitness center, expansive rear outdoor courtyard with grills and common kitchen access, dedicated secured parking, and a roof-top patio.
“The City of Danville and those involved in the River District maintain a proactive and aggressive approach to making this unique area and the City a great place to live, work, and play,” said Fickenscher. “Garrett and I are excited and grateful for the opportunity to put forth another project that will contribute to the continued revitalization of the River District.”
Although this site originally housed Traylor, Duncan and Company prizery and a tobacco box-making company, the main use of this corner lot in the Tobacco Warehouse District has been textile manufacturing. In 1898, Danville Knitting Mills, which manufactured cotton hosiery, was established. Between 1904 and 1915, this company erected the structures that still exist on this site. In addition to Danville Knitting Mills, these buildings became home to the Dan River Box Company and, most recently, Durham Hosiery Mills Incorporated.
Fickenscher and Shifflett acquired this former sock manufacturing complex from the Industrial Development Authority of Danville, Virginia in December 2017.
In addition to this $7.5million project, this development team has invested over $30 million in the River District since 2012 which has resulted in 208 market rate apartments and the establishment of Ballad Brewing.
“We are extremely thankful to Ross and Garrett for their continued investment in Danville’s River District,” said Corrie Teague Bobe, assistant director of the Danville Office of Economic Development. “They have been key players in reimagining our River District by bringing over 250,000 square feet of historic property back to life in new and creative ways. Their properties have provided a home for entrepreneurs hoping to launch their own business and residents looking for an urban lifestyle.”
Construction of the Lynn Street buildings is anticipated to be completed in May 2019. For more information regarding previous projects completed by Fickenscher and Shifflett, please visit http://danvilleriverdistrictlofts.com/.