Heritage Consulting Group on LinkedIn: April 23, 2024: Gap Funding for Historic Preservation, And More (2024)

I was a big theater kid (with grainy home videos to prove it), so I can’t wait to see this one completed!

2

We're so excited to see the historic Tivoli Theatre rehabilitation taking shape in Chattanooga. After completion, the "Jewel of the South" will be ready to entertain Chattanoogans for years to come. Heritage is proud to be part of the team working to restore and update this 1921 theater.https://lnkd.in/gQqhSQiR

27

In this month’s Journal of Tax Credits Tool Box article, we discuss the many challenges we faced while consulting on the rehabilitation of a New Formalist style apartment building that was, at the time, not yet 50 years old, and, would not allow for residents to be displaced during construction. Read on to see how Heritage and the team at HOUSING SOLUTIONS ALLIANCE, LLC rose to the challenge to complete a successful $17 million rehabilitation of a historic public housing high rise for a small town in the Midwest.https://lnkd.in/gN_AZDTy

14

"Life sciences are having a moment in Philadelphia" and we're thrilled to be part of the team rehabilitating the historic Hahnemann Hospital. Established in 1885, it was the main teaching hospital for Hahnemann University Medical School, and later Drexel University School of Medicine. The Biotech industry is booming in Philadelphia and the historic hospital will be home to state-of-the-art laboratories: #historicpreservation #historictaxcredits #historichospitalshttps://lnkd.in/gqYmH7Jg

15

We’re honored to have been a part of this project that maintained and updated crucial affordable housing for seniors in Belvidere, Illinois. The former Belvidere High School, completed in 1916, was first converted to affordable housing in 1997. Together with Ron Clewer and Brian Swanton of , Heritage navigated the HTC approval process to work alongside the LIHTC program, resulting in modern upgrades and updated units for the historic school:#historictaxcredits #lihtc #historicpreservation #historicschoolshttps://lnkd.in/gz38nz_f

47

3 Comments

It's official: The Hayes Hotel is now listed on the National Register of Historic Places! This Neo-Classical Revival Hotel, built in 1926 in Jackson, Michigan, was considered one of the grandest hotels in the state and was an important venue for business and social events in the city. It was equipped with a ballroom, dining hall, dancing hall, various conference rooms, retail storefronts, and over 200 guest rooms, making it the crown jewel of Jackson. Its grandiose Neo-Classical Revival exterior, a product of the famed Chicago-based architectural firm of Holabird and Roche (who also built some of the world's first skyscrapers), made it an attractive center piece for the entertainment industry in Jackson.Heritage completed the nomination and is looking forward to seeing the hotel's transformation as part of an ongoing historic tax credit project.#nationalregisterofhistoricplaces#historicpreservation#historicbuildings#historichotels

17

2 Comments

Our Texas-based associate, Haley Wilcox, was thrilled to connect with the staff at the Texas Historical Commission during their annual Real Places Conference in Austin. Folks came from across the state to learn about THC's programs and meet others in the preservation field. We work closely with Austin and Andreea, pictured here with Haley, on all our HTC projects in the Lone Star State. Thanks to the THC for hosting a fun, informative conference!

17

Since opening our Philadelphia office 20 years ago, we have worked on dozens of historic tax credit projects in the city and throughout the state. There’s still plenty of historic building stock in Philly, and throughout Pennsylvania—strengthening the Pennsylvania state historic tax credit would encourage more investment, and, in turn, create more jobs for the good people of the Commonwealth. As members of the Preservation Alliance for Greater Philadelphia and Preservation Pennsylvania, we’re supporting the charge to bring a more robust state historic tax credit to Pennsylvania.https://lnkd.in/gxQKBWNb

39

Historic tax credits (HTCs) provide significant benefit to projects but do not come without challenges. As is the case with any construction or development project, additional hurdles can test the patience and resiliency of the project team. Each of these challenges, however, can be offset by the financial incentive of the credit.This month’s Journal of Tax Credits Tool Box article outlines one particular HTC project in Detroit, Michigan that was put to the ultimate test as it pushed toward its completion in late-2023. The East Jefferson Development Corp. (EJDevCo) began the rehabilitation of two historic apartment buildings in the city’s Jefferson Chalmers neighborhood in 2017. In the seven years since project initiation, EJDevCo encountered a number of unforeseen roadblocks that extended the project schedule and brought unique challenges. Ultimately, though, the rehabilitations resulted in a marketed transformation of the formerly blighted properties. Read the full article here: https://lnkd.in/edQakt_N

26