In 1849, Benjamin Greenbank converted an existing small mill on this site into a 5-story woolen factory, where as many as 45 people worked to produce up to 700 yards of cloth a day. Greenbank's Hollow grew into a community that included a company store, gristmill, sawmill, school, and several residences nearly all owned by Greenbank. On December 14, 1885, a fire at the mill quickly spread and destroyed the village, including the covered bridge. Greenbank did not rebuild, and today only the foundations of mills and homes remain as testimony to a once thriving and important Danville community.