FEATURED ARTICLE
Positive Impacts from 10 Years of Using HTCs on Public Housing Conversions
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Ten years ago, Congress established the Rental Assistance Demonstration (RAD) program, which allows public housing authorities to leverage public and private debt and equity in order to reinvest in the public housing stock. Over the past decade, RAD has become an invaluable tool in the affordable housing industry, and the program has secured billions of dollars in construction improvements for public housing units across the country.
This month’s Novogradac Journal of Tax Credits Tool Box article explores how public housing authorities can utilize historic tax credits through RAD conversions. The New York City Housing Authority is currently undertaking numerous rehabilitations utilizing HTCs, including at the Williamsburg Houses in Brooklyn (pictured). Completed in 1938, the site is significant both for its history and its unique modern architecture designed by notable architects Richmond Shreve and William Lescaze. The capital improvements being made through the RAD conversion include updated fixtures, finishes, utilities, and amenities.
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PROJECT SPOTLIGHT
Newspaper Icon Reimagined
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The historic Milwaukee Journal Sentinel Building, home to the city’s primary newspaper for nearly a century, has reopened in downtown Milwaukee, Wisconsin, as the Journal Commons. Originally designed in 1924 to house the entire writing and printing process of The Milwaukee Journal, the rehabilitated Art Deco landmark now features 141 market rate apartments with 13,000 square feet of commercial space. On the fourth floor, residents can admire the impressive murals that were preserved in the historic Editor’s Suite, which depict the evolution of communication (pictured). Heritage worked with Milwaukee-based developer J. Jeffers & Co. to successfully secure historic tax credit approvals.
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SPECIALIZED SERVICES
Custom Window Design & Replacement at General Electric
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Heritage first visited the historic General Electric West Campus in Fort Wayne, Indiana in 2016 to assess the state of the site’s windows as part of Ancora’s transformation of the campus. Nearly six years later, new custom-designed windows (pictured) have been installed, seamlessly matching the originals. Upon arrival at the campus, the fenestration consisted of massive bays of steel double and triple hung windows from the early 20th century that existed in a severely deteriorated condition. As part of our assessment, it was determined that the windows needed to be replaced and Heritage’s window expert went on a boom lift with graph paper to document the window’s delicate profiles, multiple glass plane shifts, and narrow sightlines that characterized the original windows. In working with experienced manufacturers that engineered, lab tested, and produced the new custom-designed insulated glass replacement units, the windows now showcase the campus’s rebirth.
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TEAM UPDATE
Heritage across the Midwest
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To start off 2023, Heritage team members ventured throughout the Midwest, visiting clients and projects, including historic banks, apartment buildings, and industrial sites.
Shown clockwise from upper left: Erin Ward in Canton, OH; Jen Davel and Cindy Hamilton in Milwaukee, WI; Nick Kraus in Fort Wayne, IN; Jen Davel in Detroit, MI; and Jen Davel and Mariana Melin-Corcoran in Detroit, MI.
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15 W Highland Avenue
Philadelphia, PA 19118
P (215) 248-1260
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225 E Michigan Street, Suite 300
Milwaukee, WI 53202
P (608) 609-6856
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6 Chestnut Street
Amesbury, MA 01913
P (215) 248-1260
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