Wells Drug February
Petersburg Press

New housing addition planned in West Petersburg

Land for new homes will be becoming available in Petersburg
Land for new homes will be available in Petersburg with a new addition.

A new addition to Petersburg was discussed at the Petersburg Village Board meeting held Tuesday, March 5, 2019.
Ross Knott, representing the Petersburg Industrial Development Corporation (PIDC), was present to discuss the recent purchasing agreement made with Doug and Angie Koch for land adjacent to the recent addition. A plan is in place for an additional eight houses. It includes water, sewer, electrical and infrastructure. Total cost is estimated at $327,595.00.
Partial funding for the project would come from sales tax which is a 50/50 split between the village and the PIDC.
Increased housing will add to the tax base and help Petersburg businesses. Some of which are looking to transfer businesses.
Knott said when the PIDC originally purchased the prior housing site, no one thought it would sell. But, now it’s full of new houses. The spec home has also sold and the closing will be held soon.
He added, “We are fortunate to have land available on which to have additional housing. Price for the lots is expected to be around $15,000 for a 162’ x 160’ lot, They are nearly 60 percent of an acre which is a little smaller than the first West Petersburg addition.”
The motion requested at this time was not asking for financing, but permission to proceed. There are several different options available.