This slide show is enhanced content for the John Leith-Tetrault article "Tax Credit's Really Do Add Up" in the Spring 2013 issue of Forum Journal (The Rehab Tax Credit-Turbo-Charged!). To learn more about Preservation Leadership Forum and how you can become a member visit: http://www.preservationnation.org/forum
2. Healing Center, New Orleans, LA (2010): Before
$2.5 million federal HTC, $2.9 million federal NMTC, $2.4 million Louisiana NMTC
Developer: Pres Kabacoff Total Development Cost: $13.2 million
3. Healing Center, New Orleans, LA (2010): After
Now used as a community center, this project created 103 construction jobs and 112 permanent
jobs (215 total).
Developer: Pres Kabacoff Total Development Cost: $13.2 million
4. NSO Bell Building, Detroit, MI (2011-2012): Before
$6.32 million federal HTC, $1.35 million Michigan HTC, $17.6 million LIHTC
Developer: Neighborhood Service Organization (NSO) Total Development Cost: $37 million
5. NSO Bell Building, Detroit, MI (2011-2012): After
Now used as housing and support services for formerly homeless adults and as headquarters of
NSO. This project created 232 construction jobs and 299 permanent jobs (591 total).
Developer: Neighborhood Service Organization (NSO) Total Development Cost: $37 million
6. Wake Forest BioTech Place, Winston-Salem, NC (2012): Before
$18.6 million federal HTC, $17.7 million North Carolina State Mill Credit, federal NMTC
Developer: Wexford Science and Technology Total Development Cost: $103 million
7. Wake Forest BioTech Place, Winston-Salem, NC (2012): After
Now used as a biotechnology research laboratory with offices and retail ,this project created 623
construction jobs, 733 permanent (1,356 total).
Developer: Wexford Science and Technology Total Development Cost: $103 million
8. Mayo 420, Tulsa, OK (2009): Before
$6.6 million federal HTC, $4.1 million Oklahoma HTC, federal NMTC
Developer: Wiggin Properties, LLC Total Development Cost: $32 million
9. Mayo 420, Tulsa, OK (2009): After
Mayo 420 was rehabilitated for office space ,retail ,and a new YMCA facility, creating 308
construction jobs, 75 permanent (383 total).
Developer: Wiggin Properties, LLC Total Development Cost: $32 million
10. Cleveland Institute of Art (CIA) McCullough Center, Cleveland, OH (2010): Before
$6 million federal HTC, $4 million Ohio HTC, federal NMTC
Sponsor/Developer: Cleveland Institute of Art; The Ferchill Group Total Development Cost: $47.5 million
11. Cleveland Institute of Art (CIA) McCullough
Center, Cleveland, OH (2010): After
Now used as an academic facility, this project
created 369 construction jobs and 200
permanent positions (569 total).
Sponsor/Developer: Cleveland Institute of Art; The Ferchill Group
Total Development Cost: $47.5 million
12. Tennessee Theatre, Knoxville, TN (2005): Before
$5.6 million federal HTC, federal NMTC
Developer: Historic Tennessee Theatre Foundation Total Development Cost: $29.3 million
13. Tennessee Theatre, Knoxville, TN (2005): After
This former movie theatre has been rehabilitated into a performing arts center creating 285
construction jobs and 16 permanent jobs (301 total).
Developer: Historic Tennessee Theatre Foundation Total Development Cost: $29.3 million
14. REA Building, Sacramento, CA (2005): Before
$1.6 million federal HTC
Developer: REA Partners Total Development Cost: $10.3 million
15. REA Building, Sacramento, CA (2005): After
REA Building is a former post office and mail sorting facility now used for retail and office space. This
project created 57 construction jobs, 87 permanent (144 total).
Developer: REA Partners Total Development Cost: $10.3 million
16. Old Salem Jail, Salem, MA (2009): Before
$2.3 million federal HTC, $1.6 million Massachusetts HTC
Developer: New Boston Ventures, LLC Total Development Cost: $11.5 million
17. Old Salem Jail, Salem, MA (2009): After
Now a residential facility with restaurant and museum exhibit space, the Old Salem Jail project
created 64 construction jobs and 75 permanent positions (139 total).
Developer: New Boston Ventures, LLC Total Development Cost: $11.5 million
18. Dia: Beacon, Beacon, NY (2003): Before
$5.2 million federal HTC, federal NMTC
Developer: Dia Center for the Arts Total Development Cost: $33.7 million
19. Dia: Beacon, Beacon, NY (2003): After
This former factory has been rehabilitated into an art museum creating 15 construction and 44
permanent jobs (59 total).
Developer: Dia Center for the Arts Total Development Cost: $33.7 million
20. CASA de Maryland, Langley Park, MD (2009): Before
$1 million federal HTC, $1.2 million Maryland HTC, federal NMTC
Developer: CASA de Maryland Total Development Cost: $13.7 million
21. CASA de Maryland, Langley Park, MD (2009): After
Now used as a multicultural center for CASA de Maryland, this project created 90 construction jobs
and 121 permanent positions (211 total).
Developer: CASA de Maryland Total Development Cost: $13.7 million
22. American Brewery, Baltimore, MD (2008): Before
$3.9 million federal HTC, federal NMTC
Developer: Humanim, Inc. Total Development Cost: $24 million
23. American Brewery, Baltimore, MD (2008): After
The American Brewery Building is now office and program space for a nonprofit social and human
services provider, creating 157 new construction jobs and 175 permanent jobs (332 total).
Developer: Humanim, Inc. Total Development Cost: $24 million