The importance of documentation in a historic tax credit (HTC) development cannot be overemphasized. There are actually three distinct forms of documentation, all of which are critical to a successful historic tax credit application. Historic Documentation: First is documenting the historic evolution of the building. With few exceptions, buildings change over time. Tenants move in […]
When undertaking a rehabilitation development using historic tax credits (HTCs), the functional use of the building greatly influences the approach to proposed interior finishes. Reusing historic structures as office buildings requires foresight to understand the needs of future tenants, who may have a specific aesthetic in mind and to balance those needs with the HTC […]
Heading into the New Year is timely opportunity to take a step back and revisit the fundamentals of a good tax credit application. The quality of that application is important for three reasons: First, it demonstrates to the reviewing agencies that you know the program and what is important to them as they evaluate your […]
Brutalism has long been viewed negatively in the architectural community as “monolithic” or “imposing,” but has come back into vogue as changing tastes redefine design. At the same time, many of these buildings, built in the late 1960s through the 1970s, are reaching the 50-year threshold for National Register historic designations; thus, are potentially eligible […]
When you visit a city, you’re bound to see all types of buildings: commercial, residential institutional and ecclesiastical. These come in all ranges of styles and sizes, depending on your location. In more than 30 years of being in the historic real estate redevelopment industry, I’ve seen many types of buildings rehabilitated using historic tax […]
In reviewing projects for historic tax credits (HTCs), the State Historic Preservation Office (SHPO) and National Park Service (NPS) evaluate proposed work under the Secretary of the Interior’s Standards for Rehabilitation (Standards). While the Standards are general in nature, there is published guidance to illuminate how the Standards are applied to projects.Essentially, the intent of […]
Some developers look upon the historic tax credit (HTC) process as straightforward paperwork: Completing and submitting the Part 2 application; receiving approval from the National Park Service (NPS); and moving forward with the approved project, no longer in need of an HTC consultant.There are many projects where this approach has worked, but it is not […]
Happy New Year and welcome to 2016! It’s that time of the year when we make and break resolutions; when we take stock of the developments of the past year and look ahead to those in the year to come. In the spirit of the New Year, it seems appropriate to provide an update regarding […]
The notion of a historic rehabilitation generally conjures up images of Victorian late 19th-century or early 20th-century architecture. Many people don’t realize that buildings constructed as recently as 1965, or possibly more recently, may, in fact, qualify for historic tax credits (HTCs). Increasingly, HTC projects involve the rehabilitation of buildings constructed in the mid-20th century, […]
The National Park Service (NPS) historic tax credit (HTC) review process is often referred to as the 1-2-3 process, which makes one think that securing certification for a historic preservation rehabilitation project is easy as 1, 2, 3. First there’s a Part 1–Evaluation of Significance, followed by a Part 2–Description of Rehabilitation, and finished off […]
Heritage Consulting Group, a national leader in historic tax credit consultation, is pleased to announce the opening of its Austin, Texas office, effective June 1, 2015. This office will allow Heritage to improve service to its existing clients in the region. It will also help the company improve outreach and facilitate new business.
For some developers, it is not enough to renovate and update a historic building. Rather, they have a vision that links art, architecture and heritage. For some, history and architecture form the basis of interior design, typically expressed by using historic photographs along the corridor walls. Such is the case of the Palmer House in Chicago and the Netherlands Hotel in […]
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