During their meeting Tuesday, Danvilleâs Industrial Development Authority approved and authorized the extension of a purchase option for the White Mill, located at 424 Memorial Drive, to the Alexander Group.
This extension for 90 days, according to Danville Economic Development Director Corrie Bobe, is to allow the company to finish its due diligence on the property. The option was originally granted on June 12, 2019 and expired on March 8. Now, the company has until June 6 to decide whether to proceed with the purchase.
The Alexander Company is a Wisconsin-based developer specializing in historic preservation, urban revitalization and adaptive reuse. In 2019, the purchase option was granted to them for $3 million, which is the same price the IDA bought the property for from White Mill Development LLC in 2017.