521 Colony Road

• Comprehensive Plan calls for Mixed-Use Development
• 3,800'+ James River waterfront
• Approximately 90 structures; 900,000+ SF
• Electricity, water, sewer, and natural gas on-site
• Opportunity Zone

Property Description

386-acre redevelopment site in Amherst County, Virginia, with over 3,800 feet of frontage on the James River and views overlooking downtown Lynchburg. Originally developed in 1910, this site was home to Central Virginia Training Center, a state-owned and operated residential mental health facility, before closing in 2020. Today, the campus includes approximately 90 structures built between 1912 and 1989, totaling more than 900,000 square feet, varying in use and condition. Some improvements and surrounding grounds may be suited for adaptive reuse - including those which may qualify for historic tax credits - while others should be cleared to make way for new development. The Virginia General Assembly has directed that a Certificate of Public Need be approved for a nursing home facility with 90 beds on the current property, should they be sought as part of the new development. To maximize the economic potential of this unique property, the seller is now seeking proposals to master develop the site. Local government strongly supports development, with extensive studies and guidance specific to this site provided in the Amherst County Comprehensive Plan supporting more than 1,400 residential units and 380,000 sf of commercial space. Questions concerning planning and zoning should be addressed to Amherst County Administrator Jeremy Bryant (434-946-9400; [email protected]). As part of the sale of the property, the Virginia General Assembly has appropriated up to $6,000,000 to incentivize removal of buildings not proposed for rehabilitation. Access to the site is available by appointment only.