A Land Bank is not a bank in the usual sense of the word. Its purpose is to acquire, manage, maintain, and rehabilitate vacant, abandoned, and foreclosed properties. In Danville, the Rehabilitation and Housing Authority (DRHA) presently serves as the land bank.
Because the goal is rehabilitation of structures and revitalization of the Old West End, Land Bank property sales will be subject to restrictive covenants. A sample of covenants for a single family property can be found here. Duplexes would have similar covenants with the purchaser obligated to reside in one half of the property. Appropriate covenants for other multi-family buildings will be determined on a case-by-case basis.
The City of Danville and DRHA are active partners in the fight for blight eradication in the Old West End national Historic District. Together they have acquired and stabilized a number of houses. Most of the acquired houses are vacant and have been so for many years, some 15 years or more. Their integrity was threatened by absentee landlords and the lack of maintenance. The acquisitions provide an opportunity to rehabilitate these structures and revitalize the Old West End National Historic District.
For showings, offers to purchase, or additional information about Old West End properties included in the land bank, please email, Renee Burton or call 434-799-5260 ext. 2502. You may also email Friends of the Old West End or leave us a voice mail at 434-227-9900 for assistance.