Your advocacy is needed as the Historic Tax Credit Growth and Opportunity Act (HTC-GO) is moving through the Senate. This bill brings more value to the Historic Tax Credit (HTC), makes it easier to use, and encourages more rehabilitation of smaller projects and projects in rural areas. A simple note from you could help modernize and improve the HTC. Reach out now and urge your Senators to support the Historic Tax Growth and Opportunity Act of 2025 (H.R. 2941 / S. 1459) and request the inclusion of the HTC-GO bill provisions in the emerging tax bill. We appreciate your support!

FEATURED ARTICLE

Capitalizing on HTCs for Smaller Developments

In this month's Historic Tax Credit Tool Box article in the Novogradac Journal of Tax Credits, Cindy Hamilton discusses Magnolia Point in Birmingham, Alabama, a thoughtful redevelopment in the city's Southside neighborhood. Capstone Real Estate Investments, with a keen eye for adaptive reuse, has successfully revitalized this historic building with an investment of $5.4 million—a figure that, while modest compared to larger HTC projects, underscores the potential of smaller projects to effect meaningful change. According to the National Park Service 2024 Annual Report on Historic Tax Credits, 44% of all HTC projects have Qualified Rehabilitation Expenditures (QREs) under $1 million. Yet, they often wield a significant impact on their communities. Magnolia Point is a great example of how even modest HTC endeavors can breathe new life into neighborhoods. Discover more about Capstone's journey of restoration and community enhancement by clicking below.

The transformation of the City Hall portion of the Kansas City, Kansas Hall and Fire Headquarters into vibrant loft apartments and community space reflects a deep commitment to preserving history while embracing modern utility. Originally designed in 1910 by the esteemed architectural firm Rose & Peterson, this classical revival building held courtrooms, a jail, and public meeting spaces within its walls. After being vacated in 1973 and earning its place on the National Register of Historic Places in 1986, the building underwent a thoughtful rehabilitation in the early 2000s, converting it into apartments while meticulously preserving its historic elements. A recent HTC rehabilitation project breathed new life into the building by refreshing its finishes and systems, ensuring that the key defining features, such as the grand central halls, elegant marble staircases, and public meeting room remained intact. We take immense pride in our role in this meaningful project that honors the building's past while providing contemporary living for the community.

May is Preservation Month, and the Heritage team enjoyed sharing their personal stories about their experience in historic preservation. Each story reflects a unique journey, from restoring historic schools, to documenting industrial structures, to consulting on iconic landmarks— all of which shape our cultural landscape. This rich tapestry of experiences highlights the strong connection our team has to the field, showcasing not only their professional expertise but also their personal passion for preserving history. We invite you to discover the diverse perspectives of our staff by visiting our Instagram, Facebook, and LinkedIn.

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