DANVILLE – Through a partnership with the City of Danville, Preservation Virginia has used its Revolving Fund to secure a historic apartment building located at 205 Jefferson Avenue in order to save it from demolition and return it to its use as apartments. The Revolving Fund was established to acquire historic buildings from eminent threats, place them under protective easements with the Virginia Department of Historic Resources and resell them to new owners who agree to undertake the necessary rehabilitation. All proceeds generated from the sale of these properties are then returned to the Revolving Fund to replenish the reserves, which enable future acquisitions.
“We are thrilled that the Jefferson Court Apartments are one step closer to being revitalized,” said Elizabeth Kostelny, Chief Executive Officer of Preservation Virginia. “The Revolving Fund is intended to ensure threatened properties are saved and rehabilitated. We look forward to working with the Danville Neighborhood Development Corporation to bring back the vibrancy of this building.”
Constructed in the 1930s, the apartment building, located on the corner of Jefferson Avenue and Patton Street, was identified by the City of Danville as a key property for rehabilitation due to its transitional location, which links the mostly commercial River District to the residential Old West End Historic District. The once highly sought after apartment building was built in the Spanish/Mediterranean Revival style, a style unusual for Danville. The building illustrates the neighborhood’s architectural progression from late 19th century Victorian houses, to 1920s Arts and Crafts style houses and apartments, to the Spanish/Mediterranean Revival style.
Recognizing that rehabilitating the apartment building, which had been deteriorating for years, would help improve the street and neighborhoods, the City of Danville gained custody of it through the receivership process, a process that allows the city to manage derelict properties. Preservation Virginia will transfer the property to the Danville Neighborhood Development Corporation through a low interest rate loan where it will then undergo repairs and be marketed to a developer for full rehabilitation and reuse.
Ernecia Coles, Executive Director of the Danville Neighborhood Development Corporation, stated: “We are grateful and delighted to have Preservation Virginia as a partner in the effort to restore 205 Jefferson Avenue to its former glory. Although its current condition suggests otherwise, Jefferson Court Apartments is an important asset to the Old West End which is Danville’s first federally-recognized historic district. We will soon release information on how interested developers can apply to redevelop the building.”
About Preservation Virginia
Preservation Virginia is a private, nonprofit organization and statewide historic preservation leader founded in 1889 that is dedicated to preserving, promoting and serving as an advocate for Virginia’s cultural and architectural history.