Business Petersburg Press

Petersburg opens next chapter in housing expansion effort

NEXT PHASE — Petersburg Industrial Development Corp. members are moving on to their next phase of housing expansion. Shown are (front, l.-r.) Angie and Doug Koch, sellers of the new development property, and C. J. Holan; (back) Ross Knott, Monty Reicks, John Veik, Allen Thorberg, Todd Heithoff and Corey Stokes.
In an era when many rural communities see a need to expand housing availability to stabilize and increase population, the Village of Petersburg has been finding success.
The village has already begun the next chapter in its expansion effort by finalizing the purchase of a five-acre tract of land at the northwest corner of town from Doug and Angie Koch.
Eight residential lots are being developed there, along with a new street, Gardner Street. Water and sewer mains have already been extended into the new addition. The lots are expected to be “buildable” this spring.
Petersburg Industrial Development Corporation (PIDC) has provided the impetus for this development and several other local commercial and residential developments over the years, in close cooperation with the village board and local property owners.
Two of the residential lots, measuring 160 x 162 feet, have already been sold, and there is “strong interest” by potential buyers of other lots there, according to Ross Knott, local banker and PIDC member. One of the keys to this strong demand is a very reasonable lot price.
The new residential area is located just west of an eight-lot development that began in 2010 and was filled with eight new homes by the end of 2016.
Complete story in the Feb. 5 Petersburg Press and Albion News, print and e-editions.