FEATURED ARTICLE  "Functionally Related" Factories

Earlier this year, the first chapter of the former Horlick Malted Milk complex conversion in Racine, Wisconsin was completed. J. Jeffers & Co. is transforming the site, now known as Belle City Square. Like many other mill and factory complexes, the Horlick site consists of multiple buildings, and each was integral to the manufacturing process. Therefore, the project falls under the National Park Service’s functionally related guidance, and developers must navigate various construction, financing, and investment schedules. In this month’s Novogradac Journal of Tax Credits Tool Box article, we examine the complexities of rehabilitating functionally related properties and the upcoming plans for Belle City Square.

Full Article

PROJECT SPOTLIGHT  Reinventing a North Carolina Cotton Mill

Heritage was proud to work with Lansing Melbourne Group on the recently completed rehabilitation of the historic Trenton Cotton Mills in Gastonia, North Carolina. The city’s oldest extant textile mill has been transformed into the Trenton Mill Lofts, Gastonia’s newest and most desirable apartment complex. The property is situated in the heart of the city’s Franklin Urban Sports and Entertainment (FUSE) District, which affords residents connectivity to both downtown and a new multi-use sports and entertainment complex that is currently home to the Gastonia Honey Hunters of the Atlantic League of Professional Baseball. Heritage listed the complex in the National Register of Historic Places and secured approvals for state and federal historic tax credits.

Additional Projects

40th RETROSPECTIVE  Looking Back at the DUMBO Shoe Factory

As we continue to celebrate Heritage’s 40th anniversary, this month we look back at the transformation of the Hanan & Son Shoe Company Building in the Historic DUMBO (“Down Under the Manhattan Bridge Overpass”) Industrial District in Brooklyn. Now rebranded as 220 Water, the notable shoe company was founded in 1853 by Irish immigrant James Hanan and became Hanan & Son in 1865 when his son John Henry joined as a partner in the firm. The manufacturer, which produced both men’s and women’s dress shoes, was one of the first to stamp its name on every shoe, allowing the brand to become known throughout the United States and internationally. In 2012, the factory was converted into luxury loft residences with a grand atrium lobby and light-filled apartments.

Our History

TEAM UPDATE  Meet Me in St. Louis!

This month, Heritage attended the Novogradac Historic Tax Credit Conference in St. Louis and participated in panel discussions. We enjoyed reconnecting with our industry colleagues and exploring new HTC opportunities across the country.

Our Team

Mid-Atlantic 15 W Highland Avenue Philadelphia, PA 19118 P (215) 248-1260

Midwest 10 E Doty Street, Suite 615 Madison, WI 53703 P (608) 630-8108

New England 6 Chestnut Street Amesbury, MA 01913 P (215) 248-1260