After more than 35 years, Petersburg is witnessing the development of its first single-family subdivision, The Meadows at Parkview. This new community marks a significant milestone for Pike County, spanning 60 acres recently annexed into the City of Petersburg. The project is set within a residential Tax Increment Financing (TIF) district, laying the foundation for future development phases.
Phase one of The Meadows at Parkview includes essential infrastructure work, excavation, and the creation of a multi-use pathway leading to the City Park, which features new playground equipment. Additionally, 24 attractive lots will be available for new home construction, with plans to eventually build a total of 102 single-family homes.
“After we completed a Housing Study in 2018, this site was identified as the top priority for a new single-family subdivision,” said Petersburg Mayor R.C. Klipsch. “The City of Petersburg is grateful for this investment in our community and the opportunity to grow as we work to increase housing and quality of life for future generations.”
The Indiana First Region awarded $1,239,220 in READI 1.0 funds to support this project, with matching funds provided by Pike County, the City of Petersburg, and investments from the new home construction. Pike County is part of the Indiana First Region, which received a $15 million READI 1.0 allocation.
“The availability of housing is critical to a community’s quality of place and continued economic and population growth,” said Indiana Secretary of Commerce David Rosenberg. “This new Meadows at Parkview subdivision will create more quality housing options for current and future residents in Petersburg and the surrounding area. Investments like this, made through READI, are driving our communities forward and ensuring increased opportunities for Hoosiers of today and tomorrow.”
The Meadows at Parkview Subdivision has been made possible through collaboration between the City of Petersburg, Pike County, Indiana First Region, Rio Blanco Estates, Reinbrecht Homes, and the Indiana Economic Development Corporation. Residential development is a top priority for the Pike County Economic Development Corporation and its partners, as it will contribute to population growth, attract more families, and increase assessed property values. The subdivision’s prime location near I-69, within the heart of the regional manufacturing hub, makes it an attractive destination for new families.
For more information, visit opportunity4miles.com or Indiana First Regional Strategy.