Laying the Groundwork for HTCs

Historic tax credit (HTC) projects can often take several years from when the initial HTC applications are submitted to when the project receives its final Part 3 approval, marking the project a “Certified Rehabilitation.”

The rehabilitation of Carolyn Mosby Senior High Rise, also known as Mosby Tower, a public housing building in Gary, Indiana designed specifically for use by seniors, was recently completed by developer Gorman & Company. Using Mosby Tower as an example, this month’s Novogradac Journal of Tax Credits Tool Box article outlines the advanced preparation that is often required for HTC projects involving public housing.

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PROJECT SPOTLIGHT

Celebrating the Hotel Fort Des Moines

When construction of the Hotel Fort Des Moines in Des Moines, Iowa was completed in 1919, the hotel was the largest in the state, and it opened to much fanfare. Designed by prominent local architects Proudfoot, Bird, & Rawson in the Renaissance Commercial style, the hotel hosted at least twelve presidents throughout the twentieth century, as well as celebrities like Elvis Presley, Louis Armstrong, and Elizabeth Taylor.

Heritage worked to secure state and federal historic tax credits for the hotel’s recent $78 million rehabilitation, which saw the restoration of the historic double-height lobby space (pictured) and renovation of the 290 guest rooms.

Photo Credit: INVISION Architecture

Additional Projects

HTC NEWS

Appreciation for Preservation Advocacy in Philadelphia

This November, and throughout the year, Heritage is thankful for the advocacy of the Preservation Alliance for Greater Philadelphia and their efforts to preserve architectural, historic, and cultural heritage in southeastern Pennsylvania. Like Heritage, the Preservation Alliance is dedicated to improving state and federal historic tax credits. We are proud to sponsor this organization.

Pictured are Heritage team members at the Preservation Alliance Preservation Achievement Awards earlier this year.

About Us

TEAM UPDATE

Introducing Our Newest Team Member

Heritage is thrilled to welcome Claire Bushemi to the team! At Heritage, Claire will prepare National Register nominations, historic tax credit applications, and due diligence reports in the Midwest region.

After studying abroad in Florence, Italy during her undergraduate studies, Claire decided to concentrate in historic preservation. She attended graduate school in Charleston, South Carolina, where she worked to rehabilitate historic single houses in the city’s downtown. Most recently, Claire administered the Historic Tax Credit Program at the Wisconsin State Historic Preservation Office (SHPO). At SHPO, Claire reviewed tax credit applications at the state, federal and homeowner levels. Claire also undertook reviews of projects related to Section 106 of the National Historic Preservation Act.

Philadelphia, PA

Milwaukee, WI

Amesbury, MA

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