In development, it is often easier to start from scratch – buy a property, clear the land, and begin building the structure you want.  In fact, this is frequently the most cost effective way to develop a property: old structures can literally be ‘messy,’ with major deferred maintenance, old systems, … Read more

North Carolina’s historic rehabilitation tax credits program—a critical tool for communities around the state that sought to put historic structures to productive economic use—expired on December 31, 2014. The credits are back, though they differ in some important ways from those that existed prior … Read more

An historic manufacturing building in the town of Sunrise, North Carolina, is in disrepair. There are holes in the roof, standing water in the basement. Residents treasure the 3,500 square foot building and public officials want to see it redeveloped and contribute to the revitalization of their his … Read more

Previous blog posts have looked at how communities can redevelop historic properties through the creation of public-private partnerships as well as how IRS rules affect the allocation of historic rehabilitation tax credits to investors in redevelopment projects. This blog post explores what happens … Read more

Recently, developers and investors in historic rehabilitation projects—and the communities in which they work—let out a big sigh of relief. After months of uncertainty, the Internal Revenue Service issued guidance on January 9, 2014 that cleared up the terms by which developers can allocate to their … Read more

As has been described in previous posts (here and here), Historic and Mills Bill tax credits have been important tools for redevelopment across North Carolina. Redevelopment of an historic structure can serve as a catalyst for revitalization and economic development in communities of all sizes. Mill … Read more

After sitting empty for twenty odd years this abandoned department store was in need of a total transformation.  The property had a solid foundation, a beautiful facade, and held rich memories for the locals, but behind the broken/boarded up storefront was a building begging for a wrecking ball.  Th … Read more