The reality of the real estate market is that
it is cyclical. And as experienced in the
past decade, the cycle down can be rapid–
in some cases stopping a development before it
begins. Now that the market is warming again,
developers are looking to complete these partially
completed developments. This cycling presents both
opportunities and challenges for the historic tax
credit (HTC) program. When a developer picks up a
project, it is important to ensure that the necessary
approvals are in place, especially when there are
changes to the proposed scope of work.
