Former CVTC Campus

For Sale

521 Colony Road, Madison Heights, VA 24572

This Madison Heights property for sale is located at 521 Colony Road. The current listed sale price for Former CVTC Campus is Call For Offers - Offers Due 5/15/2024. Former CVTC Campus is situated on a lot that is 386 acre in size.

Contacts

broker

Debbie Wake

Divaris Real Estate

(804) 225-4010

Property Details

  • Property Type VacantLand
  • Lot Size 386 Acre
  • Date Updated Apr 10, 2024
Located at the foothills of the Blue Ridge Mountains along the banks of the James River, this site is only minutes away from the Lynchburg's central business district, within a mile of three 4-lane highways, 4 miles from an Amtrak station, and 9 miles from the Lynchburg Regional Airport. Lynchburg is approximately 60 miles from Roanoke and Charlottesville; a 2-hour drive to Richmond, VA, and Greensboro, NC; and a 2.5-hour drive to Raleigh-Durham.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.

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Highlights

  • 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

Getting around

  • 5/100

    Walk Score ®

  • 2/100

    Bike Score ®

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Location

  • City Madison Heights, VA
  • Neighborhood Madison Heights
  • Zip Code 24572

Points of Interest

  • Lynchburg

    2.10 miles

  • Tesla Destination Charger

    1.00 miles

  • 76

    1.41 miles

  • VA0098

    1.80 miles

  • Citgo

    2.04 miles

  • ChargePro

    2.06 miles

  • Shell

    2.11 miles

  • Food Zone

    2.13 miles

  • City of Lynchburg Gas Pump

    2.19 miles

  • Citgo

    2.23 miles

  • Sunoco

    2.29 miles

  • RiverWalk Parking

    0.86 miles

  • Jefferson Street Lot

    0.95 miles

  • Riverfront Lot

    1.04 miles

  • 12th Street Lot

    1.09 miles

  • Community Market

    1.11 miles

  • Community Market

    1.11 miles

  • City Center Deck

    1.14 miles

  • Mosaic Lot

    1.17 miles

  • Human Services Lot

    1.18 miles

  • Midtown Deck

    1.19 miles

  • Craddock Terry Hotel

    0.97 miles

  • Virginian Hotel

    1.32 miles

  • Americas Best Value Inn

    1.36 miles

  • Lynchburg Grand Hotel

    1.37 miles

  • Federal Crest Inn Bed & Breakfast

    1.48 miles

  • House of Lydia

    1.68 miles

  • Executive Inn

    2.24 miles

  • Econo Lodge

    2.56 miles

  • Rosemary & George Dawson Inn

    2.89 miles

  • Acorn Hill Lodge

    3.96 miles

  • Food Lion

    1.81 miles

  • Big Lots

    2.00 miles

  • Maxway

    2.25 miles

  • Food Lion

    2.32 miles

  • F & L Market

    2.84 miles

  • Food Lion

    2.96 miles

  • Walmart Supercenter

    3.30 miles

  • Food Lion

    3.73 miles

  • Kroger

    4.40 miles

  • TJ Maxx

    4.60 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Debbie Wake

Divaris Real Estate

(804) 225-4010