City of Petersburg

Economic Development Plan

Presentation November 9, 2017

• Petersburg was founded along the Appomattox River in 1748.

• The city has a rich history as a center of commerce and trade, originating as a trading post, with an economy based on agriculture and the movement of goods up the Appomattox River.

• In the 19th Century the City transitioned into a more industrial economy and movement of goods was primarily by rail.

• In the 20th Century, expansion of the industrial base continued, facilitated by the movement of goods along a newly established national interstate highway system that connects major markets between Miami, New York and Boston along I-95, and markets to the southwest that include Charlotte and Atlanta along I-85.

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Background: Petersburg

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• Nearly 270 years later, the City of Petersburg remains a center of commerce and trade and serves as the vibrant center in Virginia’s Gateway Region

• Petersburg is one of the 13 jurisdictions that comprise the Richmond-Petersburg Metropolitan Statistical Area, 24 miles South of the State Capitol.

• Petersburg is less than 90 miles from the Port of Virginia, and uniquely at the intersection of Norfolk Southern and CSX rail lines.

• Petersburg is at the intersection of Interstates 85, 95, US Routes 301 and 1, and State Route 460.

• Five major airports are located within two hours of the City with the closest being Richmond International Airport, only 30 minutes away.

• Petersburg is a two hour drive from the nation’s capitol, and within a days drive from all major markets East of the Mississippi River, including Atlanta, Boston, Charlotte, Chicago, Miami, Nashville and New York.

Assessment: Petersburg Today

Assets: History, Culture & Tourism• Petersburg is a city rich with history and

attracts visitors from across the nation to see Petersburg National Battlefield.

• The City’s restoration of Southside Depot in the Old Towne area of the City will bring the Park Service Visitor Center downtown.

• The City hosted seven days of filming of Steven Spielberg’s Lincoln in the City’s Old Towne Area. This activity directly resulted in:

– More than $570,000 of direct spending in the City; and

– Approximate 8% increase in the visitation to the City’s museums.

• In continued partnership with the Virginia Film Office, subsequent film activity has included the PBS series “Mercy Street,” the AMC series “Turn” and other smaller budget productions including Meg Ryan’s “Ithaca.”

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Assets: Historic Attractions

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Multi-Modal Transit Center opened in 2012 with service to locations throughout the Region, including service to Richmond. The Center is also the local Greyhound Bus Station

The New Petersburg Public Library opened in Spring 2014.

Assets: Public Investment

Assets: Events

Petersburg is well positioned to take advantage of the growing strength of Central Virginia.• Remarkable historic assets and a thriving downtown• More than 1,000 loft apartments• Many new and unique restaurants and craft breweries• Part of the fast-growing Richmond Metropolitan area• Adjacent to expanding Fort Lee with a combined on-post/off-post

population totaling more than 80,000• Adjacent to Virginia State University, with an increasing enrollment of

more than 5,000 students• A New Administration and Economic Development Team• New Economic Development Policies, Processes and Procedures that

are focused and streamlined to promote economic growth.

Petersburg Today

New Team in Petersburg

• New Administration

• New Economic Development Team

• New Policies, Procedures and Processes

– Mission-Focused, Goal-Oriented, Clearly defined Objectives, Outcomes and Measures of Success

Economic Development Plan: Focus Areas

Business Development

Real Estate Development

Legislative Advocacy

Workforce Development

Administration

BUSINESS DEVELOPMENT

- 1,000 2,000 3,000 4,000 5,000

Admin & Support and Waste Mgt

Other Services

Manufacturing

Accommodation and Food Service

Retail Trade

Government

Healthcare and Social Assistance

537 (4%)

765 (6%)

881 (7%)

954 (7%)

1,397 (11%)

2,210 (17%)

4,310 (33%)

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Top Industry Sectors by Employment

Development Units Investment ($millions)

AMPAC $8,670,441

Family Dollar 1,200,000

El Mundo 500,000

Escape Room 250,000

Local Vibe Café 100,000

Roses 1,000,000

Sheetz 3,000,000

Motel 6 1,500,000$17,220,441

Development 2017

Local VibeAMPAC

Sheetz

• Many new restaurants have opened in the historic downtown area.

• The restaurant scene draws from throughout the region and caters to local residents as well.

• Meals and sales taxes are derived from local restaurants.

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New Restaurants

• Two new Breweries have opened in the historic downtown area.

• The office of Terry Ammons Studio Architecture firm, is now a meeting space and brewery.

• A former City Ice and Coal factory built in the 1870s is now a Trapezium Brewing Company, a 1,000 gallon production brewery.

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New Breweries

REAL ESTATE DEVELOPMENT

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2014

2015

2016

2017

2013

2012

2011

2010

2009

2008

2007

2006

2005 High Street Lofts Phase I (10HU)

South Street Lofts (44HU)

Dunlop Lofts (64HU) High Street Lofts Phase II (24HU)

Claiborne Square (47HU)

Lofts on Market (23HU)

High Street Lofts/ Phase III (36HU)

Oddfellows (19HU) Old Towne Flats (34HU)Lofts at 301 (34HU)River Street Lofts (8HU)

Courthouse View (40HU)141 East (19HU) Mayton Transfer Lofts/Phase II (108HU) Henry Williams Townhomes (42HU)

Mayton Transfer Lofts Phase I (111HU)

Cameron Lofts (33HU) Star Lofts (66HU) High Street Lofts Phase IV (9HU)

25 West Bank (18HU)

30 Franklin St (16HU)

Long Lofts (62HU)

Butterworth Flats (45HU)

Ice House (18HU) The Bosco (74HU) Burr Lofts (40HU)

1,148 Total Housing Units (HU)

Multi-Family Residential Development

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Year Development Units Investment ($millions)

2014 25 West Bank 18 $ 2.0 Butterworth Flats 45 $ 1.4 Subtotal 2014 63 $ 3.4

2015Subtotal 2015 $ -

2016 30 Franklin St 16 $ 5.0 Ice House 18 $ 1.5 The Bosco 74 $ 3.8 Burr Lofts 40 $ 2.4 Subtotal 2016 148 $ 12.7

Grand Total 211 $ 16.1

Multi-Family Development (2014-16)

The Bosco

Butterworth Flats

Burr Lofts

REAL ESTATE DEVELOPMENT PROPOSALS UNDER CONSIDERATION:

Gateway Projects

• The City of Petersburg is partnering with the Cameron Foundation on two Gateway Projects.

• Exit 52 includes a VDOT Project to install Ornate fencing along the Washington St Bridge over I-95 and construction scheduled to begin later this year.

• The second project is a park enhancement at the Appomattox River across from Virginia State University.

New Hotels

• A focus on enhancing the supply of hospitality properties

• The City endeavors to bring additional product on line

20 W Tabb St

Overview

• Vacant Historic Hotel Building

• 44,724 sf

Features

• Within Historic Downtown

• Within Enterprise Zone

• Zoned B-3

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501 E Washington St

Overview

• Vacant Property (Former Holiday Inn)

• 1.77 Acres

Features

• At Exit 52 Interstate 95

• Visibility from Interstate 95

• Within Enterprise Zone

• Zoned B-2

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29 and 41 S Union St

Overview

• Historic Commercial Buildings

• 50,318 sf

Features

• Within Historic Downtown

• Within Enterprise Zone

• Zoned B-3

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1015 and 1004 Commerce St

Overview

• Historic Industrial Building

• Multi-Story

• 209,187 sf

• 4.62 Acres (Building Site & Parking)

Features

• Vacant Buildings

• Zoned PUD

• Adjacent Parking Lot Included

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10 N Jefferson St. & 125 E Washington St.

Overview

• Vacant Land

• Former VEC Site

• 2.76 Acres

Features

• 2.76 Acres

• Flat and developable

• Walkable distance to Historic Downtown

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801 South Adams Street

Overview

• Former Hospital Site

• Vacant Land and three structures

• 24 Acres

Features

• Near Historic Downtown

• Zoned RB

• Virtually Pad Ready

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119 and 130 Pocahontas Street

Overview

• Former Lumber Yard

• Vacant Land

• 24 Acres

Features

• Adjacent to Appomattox River

• Near Historic Downtown

3645 Halifax Road

Overview

• Vacant Land

• 8.6 Acres

• Zoned M-2

Features

• Vacant Level Lot

• Within Established Industrial Park

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2233 HALIFAX RD

Overview

• Vacant Land

• 174 Acres

Features

• Near I-85

• In Industrial Park

• At Intersection of NS and CSX Rail lines

City-owned Parcels

Incentives

• Enterprise Zone

• Technology Zone

• Arts and Culture District

• State

– COF

– AFID

– IRF

– VBAF

Thank You!

Contact:

Reginald Tabor

City of Petersburg

Office of Economic Development

400 East Washington Street

Petersburg, VA 23803

(804) 733-2352

rtabor@petersburg-va.org

Additional Information:

• Loopnet

• VEDP Website