Portsmouth apartments considered by developers

  • 2015-07-17
Several developers specializing in apartments have anticipations that Portsmouth could be a city worthy of investment.

The Monument Co., a Richmond-based business, has started moving on two properties already. On completion of the work, the enterprise could employ brochure printers from Virginia Beach for promotional reasons. Tom Dickey, one of the principals of the organization, has said:

"When you are an outsider, you have a different perspective. You don't have a preconception. You look at it and have your own opinion - a different value than someone who is already there."

The firm of Dickey has been undertaking work in the interior of the Governor Dinwiddie Hotel. It has also expressed the intention of beginning the demolition of an old railroad headquarters in the High Street.

Dickey has maintained that parts of Portsmouth have a lot of potential. He has specifically mentioned the quality of local restaurants, transportation, and cultural amenities. Moreover, he has faith in the direction of the national economy. The Whitmore Co. and the Breeden Co. – both development companies – have both got in on the act in Portsmouth.

This noteworthy activity is taking place in the city despite possible concern about its comparatively high rate of property taxation, and nor are tolls on tunnel usage in the neighborhood discouraging the developers in question. The bustling downtown area has been reported as compensating for either of these potential drawbacks.