316 E. Bank St, Petersburg, VA
At the outset of this project, the exterior walls of 316 E. Bank Street were in fair to poor condition. An unfortunate roof slant had caused water pooling on part of the historic roof, leading to severe deterioration, and vegetation had begun growing between the bricks of the walls. Many of the property’s windows were bricked over or boarded up. The interior of the building fared similarly. The owner of the property proposed a major overhaul, changing the former Mortimer Williams Peanut Factory into 27 residential units and a single retail bay. Construction was completed in three phases, and the finished property retains a fashionable industrial feel. Exposed beams and brick walls dot many of the apartments, in keeping with the structure’s 20thc. Commercial style.
The repurposing of the Mortimer Williams Peanut Factory epitomizes the development potential of former industrial buildings. With aid from CPG, the restoration of 316 E. Bank St. made the owner eligible for federal and state tax credits equalling 45% of the project’s total cost.
316 E. Bank St. After
316 E. Bank St