Uncovering the Hidden History of the Union Central Life Insurance Company Building: An Office Conversion Success Story in Cincinnati

In the October 2026 issue of the Novogradac Journal of Tax Credits, Heritage President Cindy Hamilton highlights the remarkable rehabilitation of Cincinnati’s historic Union Central Life Insurance Company Building, better known as PNC Bank Tower.

Designed by renowned architect Cass Gilbert and completed in 1913, the 31-story landmark recently underwent a $171 million transformation into Sky Central, a 281-unit residential development. Led by Trowbridge Ventures, the project relied on federal and state historic tax credits to make the ambitious office-to-residential conversion financially feasible.

The rehabilitation revealed historic architectural details concealed by decades of renovations, including terrazzo floors, ornamental plaster ceilings, and marble finishes. Through careful preservation and creative problem-solving, the development team successfully incorporated modern residential amenities while restoring the building’s historic character. The project demonstrates the critical role historic tax credits can play in revitalizing underutilized downtown office buildings and preserving architectural landmarks for future generations.

Read Cindy’s full article to learn more about the challenges, discoveries, and successes behind this transformative project. Image: Courtesy of Sky Central Apartments

Historic tax credits aren't just for large-scale developments. Smaller rehabilitation projects can have an equally meaningful impact on their communities, as demonstrated by the transformation of the historic Haddon House at 300 Kings Highway East in Haddonfield, New Jersey.

Haddon House was originally constructed in 1820, and over the years served a variety of purposes, including a restaurant and professional offices. Today, this beloved landmark has been given another chapter as luxury apartments. Heritage Consulting Group served as the historic tax credit consultant for the rehabilitation, helping facilitate the building's adaptive reuse while preserving its distinctive architectural character.

Though modest in scale compared with major redevelopment projects, Haddon House demonstrates the outsized impact that smaller HTC projects can have—breathing new life into historic buildings, creating desirable housing, and ensuring that important pieces of a community's history are preserved.

HTC NEWS

Action Alert: Proposed Federal Changes Threaten Historic Preservation Protections

Two federal initiatives could significantly weaken Section 106 of the National Historic Preservation Act, a cornerstone of the nation's historic preservation framework. While Section 106 primarily governs federal undertakings, changes to these protections could have broader implications for preservation programs and the historic resources they safeguard.

The Senate is considering S. 5653, the Bipartisan American Affordability & Jobs Act, a sweeping permitting reform bill intended to accelerate infrastructure and energy development. Preservation advocates are concerned about provisions that could undermine historic preservation review and public participation. An initial Senate vote is anticipated for November 9.

Preservation advocates are encouraged to make their voices heard. The National Trust for Historic Preservation is urging supporters to contact their U.S. senators regarding S. 5653 and its potential impact on historic resources.

Heritage Consulting Group was proud to sponsor and attend the 2026 Novogradac Historic Tax Credit Conference, held October 8–9 in St. Louis, Missouri. The annual gathering brought together developers, investors, lenders, and preservation professionals to discuss the latest trends, challenges, and opportunities shaping the historic tax credit industry.

Three Heritage team members were among the featured speakers. Cindy Hamilton participated in the “Navigating the HTC Review” panel, sharing insights into the complexities of the historic tax credit review process. Elizabeth Rosin spoke on the “Washington Report” panel, addressing developments in Washington relevant to the HTC industry. Nick Kraus contributed to the “HTC Basics Workshop,” helping attendees build a foundational understanding of the historic tax credit program and its application to rehabilitation projects.

The conference provided a valuable opportunity for our team to share expertise, exchange ideas, and reconnect with industry partners from across the country. Lisa Wogan joined the team in connecting with current clients and colleagues while building new relationships with professionals across the industry.

We enjoyed contributing to the discussions shaping the future of historic preservation and adaptive reuse.

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