PETERSBURG, Va. — Twenty years ago, building contractors in Petersburg were primarily focused on transforming large warehouses into apartments, avoiding renovations and new single-family home constructions. However, the landscape of the city has significantly shifted, launching a housing boom marked by both renovations and new constructions.
“You like driving through the city and seeing the neighborhood looking a whole lot better. Yep. Than what it was,” said Floyd Brooks, a local resident who appreciates the ongoing construction.
Daisy Argyle, who has observed the changes during her daily dog walks over the past 18 months, noticed the increase in activity.
“There’s at least two or three houses per street, I would say, and more on the way. A lot more restorations of the older homes and then a couple of new builds here and there,” Argyle said.
General contractor Larry Murphy attributes Petersburg’s housing surge to three main factors: location, opportunity in housing stock, and capital.
“Those have been the big three things that have led to the boom in Petersburg,” Murphy said.
According to Petersburg Mayor Sam Parham, the city’s building officials have reported an unprecedented number of applications for new constructions and home remodels.
In 2024, the city saw a steady increase in housing activities, with 128 new homes under construction and 70 houses undergoing renovation.
“Almost every street we turn on, we see a new house, or a remodeled house put back on the tax rolls and especially through here on Wythe Street,” Parham said. “This place right here is just about spectacular. And in looking at it, people wouldn’t think it was in Petersburg.”
Proximity and affordability play vital roles for homebuyers choosing Petersburg.
“You could also be from downtown Petersburg to downtown Richmond quicker than you could come from Short Pump to downtown Richmond,” Murphy said.
With the constant rise in property prices in Richmond, Chesterfield, and Henrico, many are turning to Petersburg for more affordable housing options.
“I have a lot of Richmond’s now that have moved down to Petersburg to buy homes just because homes are affordable in Petersburg,” Parham said.
For homebuilders like Ray Campos, Petersburg presents an ideal opportunity.
“I think now is the right time to do everything in Petersburg,” Campos said.
Murphy echoes the sentiment, noting the reasonable property prices as a key factor.
“You can still buy property’s in Petersburg at a very reasonable rate and that’s essentially what happened,” Murphy said.
Homeowners like Argyle are optimistic about the influx of new residents.
“I think it’s great for the city," Argyle said. “I hope it brings some new families in this immediate neighborhood, so I’m hoping some younger people move in and we have some more kids to play with and what not.”
Builders predict that the transformation of Petersburg will continue into 2025 with new houses on vacant lots and the renovation of decades-old homes into modern living spaces.
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