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Danville Announces $35M Hyatt Studios Hotel Project
New extended-stay hotel aims to meet rising demand from healthcare, manufacturing, and tourism sectors.
Apr. 1, 2026 at 7:45pm
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The Danville Office of Economic Development & Tourism (DOEDT) announced a new $35 million Hyatt Studios hotel project in the city's River District, supported by $28.75 million in New Markets Tax Credit (NMTC) allocations. The 122-room extended-stay hotel is expected to meet growing demand from the region's healthcare, casino, construction, business travel, and manufacturing sectors.
Why it matters
This project represents a significant investment in Danville's riverfront and tourism infrastructure, leveraging the city's natural assets to attract visitors and support the local economy. The use of NMTC financing also demonstrates how public-private partnerships can drive development in underserved communities.
The details
The Hyatt Studios hotel will include 122 extended-stay rooms and approximately 55,000 square feet of lodging space. The project is being developed through a partnership between the Lansing Melbourne Group (LMG) and 1st and Main Development, and is expected to take 16-18 months to complete once construction begins.
- The DVCDE has closed on the $35 million project, with $28.75 million in NMTC allocations.
- Construction is expected to take 16-18 months once work begins.
The players
Danville Office of Economic Development & Tourism (DOEDT)
The local economic development agency that announced the Hyatt Studios hotel project.
Danville Virginia Community Development Entity (DVCDE)
The community development entity serving Southern Virginia that provided the NMTC financing for the project.
Locus Impact Fund CDE
The community development entity that partnered with the DVCDE to provide the NMTC allocations for the project.
Lansing Melbourne Group (LMG)
The development company partnering with 1st and Main Development on the Hyatt Studios hotel project.
1st and Main Development
The development company partnering with Lansing Melbourne Group on the Hyatt Studios hotel project.
What they’re saying
“The Hyatt Studios project demonstrates how New Markets Tax Credits can attract meaningful private investment to Danville's River District and the surrounding area.”
— Corrie Bobe, Director of the DOEDT and Executive Director of the DVCDE
“Projects like the Hyatt Studios hotel show the kind of momentum we're seeing in Danville right now. This investment helps us make the most of our riverfront, gives visitors more great places to stay, and supports the growing demand we're seeing from healthcare, manufacturing, and tourism.”
— Alonzo Jones, Chair of the DVCDE Operating Board and Danville Mayor
What’s next
Construction on the Hyatt Studios hotel is expected to begin in the coming months and take 16-18 months to complete.
The takeaway
The Hyatt Studios hotel project demonstrates how public-private partnerships and innovative financing tools like New Markets Tax Credits can drive economic development and investment in Danville's River District, helping the city capitalize on growing demand from key industries and strengthen its tourism offerings.
