R. J. Reynolds Building / Cardinal Hotel
Winston-Salem
, NC
Cost: $59 million
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Previous Use: R.J. Reynolds Tobacco Company Headquarters
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Current Use: Hotel & Apartments
Project Details
Completed in 1929, the Reynolds Building was commissioned by the R.J. Reynold’s Tobacco Company for their headquarters. Designed by New York architects Shreve and Lamb, the building was the tallest in the South at the time of its construction.
In 2016, PMC Property Group completed a $59mm rehabilitation of the Reynolds Building. Formerly vacant, the building is now the Kimpton Cardinal Hotel. Heritage guided PMC through both the Federal Historic Tax Credit and North Carolina State Mill Rehabilitation Tax Credit processes.
Incentives Utilized:
- Federal Historic Tax Credits
- North Carolina State Historic Tax Credits (North Carolina State Historic Rehabilitation Tax Credit Program)
- Winston-Salem Local Property Tax Deferral
