Is Petersburg, VA improving or is it hot air?

3 Replies

Looking at purchasing a commercial warehouse property in Petersburg, VA for our own use.

Property is near the historic district, good size, near highways, and priced right so we still have room to invest in business & don't need to tie up all funds for a mortgage.

Drove down there last week & Petersburg has some beautiful historic homes sitting right next to bombed out houses. Many of the streets had people sitting outside in the middle of a workday just shooting the breeze. All bad signs I know

We spent half a day at city hall & everyone was talking about all the improvements the city is doing to change the city. 

The historic area did have some fancy shops & restaurants. The new library looked fabulous. There are many new warehouses converted to lofts (though many of the lofts are still vacant)

I checked population statistics & Petersburg is losing population.

Does anyone know more about the area? Do you think the city will improve & turn around or is this a bad bet?

Thanks for any help

Hey @Goldy R.  

diid you ever get any clarification on the area?  I'm looking to wholesale a deal in the area maybe If i think i can unload it.  I'm in Richmond about 40 minutes away but havent invested in the area.

We have been in the Petersburg area for abut 5 years doing all kinds of business.  We offer to work with you on any deals you would like to do here as business partners.  We will consult for yu on the good and the bad deals or people around there.

We have been in the Petersburg area for abut 5 years doing all kinds of business. We offer to work with you on any deals you would like to do here as business partners. We will consult for yu on the good and the bad deals or people around there.

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