Pharma Growth and Boutique Hotel Fuel Petersburg’s Boom

Tens of thousands of drivers speed past Petersburg daily on I-95, but its exit ramps are becoming busier as the city emerges as a destination in itself. 

The industry is moving in and fast. Denmark-based pharmaceutical giant Novo Nordisk acquired a facility there last December, and Phlow Pharmaceutical launched operations last summer, positioning Petersburg as a pharmaceutical hub. Meanwhile, Ashburn-based Independence Hydrogen debuted a green hydrogen plant in the city last year. Innovation abounds across sectors. With these facilities creating jobs and attracting business partners, the city is poised for growth—and all those newcomers will need a place to stay.

Enter Dr. Nat Cuthbert, radiologist and lifelong Petersburg resident. In 2017, he purchased a historic 1916 downtown building—once a luxury hotel and, after a devastating 1970 fire, a decaying relic with a remarkable architectural shell. Over the years since, he’s led a stunning restoration, bringing back the building’s marble columns, intricate plasterwork, and Second Renaissance Revival style. Last December, it reopened as Hotel Petersburg, reclaiming its place as a city landmark. 

The boutique hotel is elegantly upscale, featuring a rooftop bar, a basement speakeasy in the old boiler room, conference rooms, a restaurant, and a serene courtyard. It’s fit to host biotech businessmen and road-trippers passing through alike—“come one, come all,” as Cuthbert puts it. 

With its new, plush lodging and injection of industry, “it feels like Petersburg is on its way up,” Cuthbert says. “I’ve always been interested in seeing the city develop to its full potential.” TheHotelPetersburg.com


This article originally appeared in the April 2025 issue.

Hope Cartwright
Hope Cartwright is associate editor of Virginia Living. A native of Traverse City, Michigan, she is a recent graduate of Northwestern University’s Medill School of Journalism.
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