Twinning Incentives at Philadelphia Landmark

For decades, the rehabilitation and reuse of the former Provident Mutual Insurance Company Building was a priority for the City of Philadelphia. With its sprawling green campus and monumental Classical Revival-style building topped with a gold dome, the Provident Mutual Insurance Company Building has stood as one of West Philadelphia’s most recognizable landmarks since its construction in 1927.

In 2019, Philadelphia-based developer Iron Stone purchased the building, and the rehabilitation was recently completed using twinned historic tax credits (HTCs) and new markets tax credits (NMTCs). This month’s Novogradac Journal of Tax Credits Tool Box article examines how the project overcame financial hurdles by pairing incentives for this historic building.

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Chicago’s Pioneer Bank Listed in the National Register

Heritage has successfully listed the Pioneer Trust and Savings Bank in Chicago, Illinois in the National Register of Historic Places as part of the ongoing historic tax credit rehabilitation.

The bank was established in the early 20th century to service the financial needs of the growing Humboldt Park neighborhood. At the time, Chicago’s population was increasing, and federal and state regulations prohibited large banks from opening branches, resulting in a proliferation of independent banks in the city’s various neighborhoods. The Classical Revival building was designed by architect Karl M. Vitzthum in 1925 to house the bank on the lower floors and leasable office space on the upper floors. Vitzthum’s design displays the distinctive characteristics of the style, including a monumental portico, classical elements, and symmetry.

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2023 Novogradac HTC Conference

Heritage was in Charlotte, North Carolina earlier this month for the 2023 Novogradac Historic Tax Credit Conference. Our President Cindy Hamilton and Vice President Nick Kraus spoke on a number of panels covering topics such as historic tax credit basics, affordable housing, and the Historic Tax Credit Growth and Opportunity Act (HTC-GO). We enjoyed speaking with our industry colleagues and meeting new partners. Thanks to all who stopped by our booth!

Pictured left to right: Cindy Hamilton, Nick Kraus, Haley Wilcox, and Jen Davel.

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Introducing the New Heritage Logo!

Heritage has a new look! The arch as an element was chosen both for its architectural durability and significance over time and is shown here as a modern representation. We are proud to introduce our new logo.

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Milwaukee, WI

New England

Amesbury, MA


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