Danville city council members tour Dan River Research Building

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DANVILLE (WSLS10) - Danville city council members now have a better idea of how the renovation of a historic downtown building is progressing.

City council members toured the Dan River Research Building today.

In 1883, the building was completed as a textile factory for Riverside Cotton Mills.

It will eventually be used for various offices and restaurants.

Investors purchased the building in 2012 but had to wait until last September to get started because they were waiting for federal and state tax credits.

City leaders believe this will play a major part in revitalizing the downtown area.

"It's huge," said Councilman James Buckner. "It's like the cornerstone of the whole project."

"We're very happy. We're very excited by what this is going to do and the impact it's going to have on the community," said River District Development, LLC President Mark Hermann.

The first offices are expected to be up and running in January of next year.