FEATURED ARTICLE

Building a Legacy in Baltimore

This month’s Novogradac Journal of Tax Credits Tool Box article tells the inspiring story of China Boak Terrell, a former corporate attorney who pivoted to nonprofit economic development in Baltimore. Now the CEO of American Communities Trust (ACT), Terrell is leading the charge to rehabilitate the Baltimore Pumphouse complex into a center for commercial and community activity. The 4.1-acre site, which was abandoned for decades, is being revitalized with the input of the local residents, business owners, and organizations. Historic Tax Credits (HTCs), as well as other incentives, are playing a crucial role in the project becoming a reality.

Full Article

PROJECT SPOTLIGHT

Downtown Living in an Art Deco Landmark

The recently-rehabilitated ARCO Building, a six-story office building in Tulsa, Oklahoma was built in 1949 as the headquarters for the Service Pipeline company. Architect Leon B. Senter executed the design in a distinctive Streamline variant of the Art Deco style, using green terra cotta to highlight the buff brick exterior and different colors of marble to distinguish each of the elevator lobbies. After a five-year rehabilitation period, the building now offers 72 stunning apartments for downtown dwellers.

Additional Projects

HTC NEWS

Big Changes to MO, MA and PA State Credits

In Missouri, legislation has been passed to provide a bonus state HTC (35%) for projects in rural counties and to allow nonprofits to receive the state HTC. In Massachusetts, the state’s HTC cap has doubled, from $55M to $110M, as part of a broader housing initiative. In Pennsylvania, the state HTC cap has been increased from $5M to $20M, enabling a greater number of projects to receive funding. We applaud the efforts by state elected officials and local stakeholders to make these changes happen. The enhanced HTCs will make possible the rehabilitation of buildings such as the 21C Museum Hotel (formerly the YMCA) in St. Louis, shown above.

Our Services

TEAM UPDATE

Introducing Spencer Rubino

Meet Spencer Rubino, our new team member in the Philadelphia office. Spencer grew up in rural Western Maryland, an area which gave him an appreciation for historic buildings from an early age. He obtained a BArch and MS in Historic Preservation from Thomas Jefferson University in Philadelphia. Spencer is a big believer in the importance of preservation and its connection to our American cultural landscape. Outside of the historic preservation world, Spencer is a prolific musician and plays guitar in three bands. Welcome to the team, Spencer!

Our Team

heritage-consulting.com

P (215) 248-1260