a Historic Property from the Historic Petersburg Foundation, Inc.
Petersburg has seven historic districts that cover 6,500 acres of land and include over 700 buildings, some dating back to 1750. The streets within these areas contain historic structures worthy of restoration.
HPF is the only preservation organization in Petersburg and we play a vital role in protecting Petersburg’s architectural resources and matching these neglected, deteriorated properties with a buyer who will restore them.
The impact of HPF is evident throughout the city, street after street and house after house. Because of our involvement, structures that were once threatened are now restored and listed on the National Register of Historic Places and the Virginia Landmarks Register.
HPF’s Real Estate Committee selects a target area where our restoration and revitalization efforts are focused. Concentrating on a specific street or area enables us to make a greater impact saving Petersburg’s distinctive architecture and improving a neighborhood than a scattered approach. Working in a target area, also encourages others to invest in restoring a property of their own… and pride in the neighborhood rises.
The historic structures that HPF acquires have been neglected for many years and are usually not liveable in their present state, as is also the case with surrounding properties. Buying and restoring these properties requires a pioneering spirit and vision.
If you are interested in a historic structure that HPF owns, please contact our realtor, Jeff Clark (804-521-1360) to make an appointment to see the property. After viewing the property, if you wish to make an offer to HPF: complete the purchase agreement with the realtor and HPF’s Standard Proposal Requirements. Jeff will present your offer to the Real Estate Committee, who will review it and respond as soon as possible.
Please be aware that:
- There are protective easements or covenants on historic properties owned by HPF. Preservation covenants regulate the use of and changes to the property and require that all restoration work comply with the guidelines established by the Secretary of Interior’s Standards for Rehabilitation of Historic Properties. Preservation covenants are legal agreements and once recorded, become part of the property’s chain of title and “run with the land” in perpetuity, binding the present owner and all future owners. Covenants are recorded to secure the long term protection of architectural and historical resources. You may request a copy of the covenants for the property you are interested in purchasing and restoring.
- Performance Note/Deed of Trust Note – HPF places a timeframe – typically 18 months – from closing for the restoration to be completed. If the requirements of the note are not met, the default penalty may be enforced. If the restoration project is steadily progressing and more time is needed, the new owner may request an extension. The Performance Note is in place to help ensure that these structures will be restored and preserved in a timely manner.
- Once restored, historic properties purchased from HPF must be owner occupied.
