Today the City of Danville held a groundbreaking ceremony for the new Hyatt Studio Hotel. The 122-room extended stay hotel will have four floors and will be located at 100 River Street.

The project is a $35 million investment and will bring 140 new jobs to the region once the hotel is completed. The project includes $28.75 million in New Markets Tax Credit allocations from the Danville Virginia Community Development Entity and Locus Impact Fund CDE.

The hotel is the Danville Virginia Community Development Entities fourth New Markets Tax Credit project. Construction is expected to take 16-18 months once work begins.