A large piece of textile history is getting a new owner in Danville.
The city's Industrial Development Authority, or IDA, is working to buy the more than 80 acre site formerly occupied by Dan River Mills.
Last week we told you the current owner, Old Mississippi Brick Company, has spent the last several years tearing down part of the more than four million square feet of buildings on the property.
The company saves everything from plastics, brick, and wood, and sells it for home and business use around the world.
The IDA is buying the property for about five million dollars.
"We're looking for key pieces of property that we can either develop as a green field site, where there's no development on it, or in this case renovations slash redevelopment. And in this case the time was right to go ahead and put this site together," said Jeremy Stratton, Danville's Economic Development Director.
The smoke stacks and historic buildings are staying. City leaders expect the sale to be finalized before the end of this year.