BUCHANAN, Va. (WDBJ) – A once-abandoned industrial site in Buchanan has been reborn as Factory Flats, a modern apartment complex that is spurring interest in housing and economic growth in the city.
At the heart of this transformation are the former Groendyk Manufacturing buildings, which have now been repurposed as a vibrant community gathering place that will soon include a craft brewery.
“Factory Flats, formerly the Groendyk buildings in Buchanan, has been the city’s premier economic destination for several years,” said Ken McFadyen, Botetourt County Economic Development Director.
The revitalization of these historic buildings has breathed new life into Buchanan, offering a blend of modern living and historic charm.
Sycamore Development Co. purchased the buildings in 2021.
“It’s a beautiful building with lots of natural light, historic features and great views of Purgatory Mountain,” said Chris Vail, co-owner of Sycamore Development Co.
Factory Flats offers 21 apartments – 11 one-bedroom units and 10 two-bedroom units – all equipped with modern amenities.
“We wanted to create something great for the community that would provide both housing and a community space like the brewery,” Vail added.
Aside from its residential appeal, Factory Flats is also expected to be a major boost to Buchanan’s economy. The city is already a destination for outdoor enthusiasts with its numerous recreational activities.
“It’s an absolutely beautiful area with amenities you won’t find anywhere else,” Vail said. “From the river to biking to fishing, there are endless opportunities for outdoor recreation.”
The impact of Factory Flats goes beyond simply providing housing. McFadyen said the project not only increases the stock of available housing in Buchanan, but also bolsters the city’s finances through additional tax revenue and by getting more people to spend money at local businesses.
A $450,000 state grant has been instrumental in supporting the redevelopment, which includes the upcoming A Few Old Goats craft brewery that will further enhance the vibrancy of the community.
Three of the units can be rented short-term via Airbnb, and only two of the remaining 18 apartments are still available.
With rental prices ranging from $900 to $1,300 per month, Factory Flats are now open and ready to welcome new residents.
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