Historic Petersburg Foundation Offers Historic Property For $1.00

The Historic Petersburg Foundation (HPF) has a number of properties for sale within the City of Petersburg, including one for just $1. As part of its architectural preservation mission, HPF matches neglected, deteriorated properties with buyers who will restore them. One such property is 822 West High Street in the Battersea-West High Street Historic District. […]

September 11, 2009; 12:53 PM • by brenda p

The Historic Petersburg Foundation (HPF) has a number of properties for sale within the City of Petersburg, including one for just $1. As part of its architectural preservation mission, HPF matches neglected, deteriorated properties with buyers who will restore them. One such property is 822 West High Street in the Battersea-West High Street Historic District. This 4,300+-square-foot frame house sits back from the street on a large lot with several old magnolia trees in the yard. The house needs total restoration and must result in an owner-occupied single family dwelling, which complies with the City of Petersburg’s ARB guidelines for exterior work and HPF covenants and performance note of $100,000.

Other properties HPF is offering for sale include 116 Liberty Street in the Poplar Lawn Historic District. Also known as “The Morriss House,” this Italianate c. 1830 3,644-sqaure-foot home (plus English basement and walk-up attic) with separate kitchen building and alley access to a stone carriage building is listed at $79,950. Charles Gillette designed the landscaping for this beautiful home, and his sketches will convey to the new owner.

Also available is the John Baird, Jr. House at 420 Grove Avenue, close to the river and downtown. This three-story stone and wood siding building features two floors currently used as office space that comprise 2,709 square feet and with three HVAC units, plus an additional 1,176-square-foot third story ready for finishing. This building has multi-use potential, includes four – six parking spaces and is listed at $265,000.

The 50’ x 153’ corner lot and 1,410-square-foot historic structure at 849 West High Street is being offered at $45,000. This building features a patterned slate roof, heart pine floors and walk-up attic great for additional finished space. Restoration has started but needs to be completed.

The large Victorian home on a corner lot at 137 Liberty Street is also for sale for $49,900.

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. Copies of covenants on any HPF property may be requested directly from HPF or seen at the courthouse.

Additionally, each property HPF sells comes with a Performance Note/Deed of Trust Note, which places a timeframe – typically 18 months – from closing for restoration needed 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.

To make an appointment to see any of HPF’s properties or to learn more about them, contact Jeff Clark, Realtor, at (804) 521-1360.

HPF is a non-profit organization dedicated to leading the preservation and restoration of Petersburg’s historic architecture and neighborhoods and to tell their story. For more information on HPF, call (804) 732-2096 or visit www.historicpetersburg.org.

September 11, 2009 12:53 PM 0