Historic Rehabilitation Tax Credits

Overview

The federal historic rehabilitation tax credit (HTC) has become a key driver of downtown real estate investment and community revitalization since it was signed into law. Our attorneys have extensive experience structuring, negotiating, documenting, and closing HTC transactions for both investors and developers. 

We understand the legal, tax, and business concerns of corporate investors, including financial institutions. We also represent lenders and for-profit, nonprofit, and public agency developers in HTC-related matters. Our team helps clients use HTCs to bring new life to theaters, former factories, department stores, and armories. 

Representative experience

• Restoration of a former Washington, DC neighborhood theater Represent the investor in the restoration of theater and adjacent commercial space into a multi-venue performing arts center
• Rehabilitation of a minor league baseball park Represent the investor in the rehabilitation of the park, built in 1914 as the first sports stadium, to qualify for federal tax credits
• Historic rehabilitation of Terminal Tower Represent the investor in in the rehabilitation of one of one of Cleveland’s most distinctive historic buildings
• Rehabilitation of a former school Represent the developer in in the rehabilitation of into a 74,000-square-foot campus that includes artist housing, small business incubation, nonprofit, and retail space
• Rehabilitation of the former Bradford Durfee Textile School Represent the developer in the rehabilitation of the Fall River, Massachusetts, school into the Creative Class Lofts, a 74,000-square-foot campus that will include mixed-income and practicing artist housing, as well as small business incubation, nonprofit, and retail space
• Renovation and rehabilitation of high school in Winnsboro, South Carolina Represent the tax equity bridge and leverage lender in connection with a bridge loan of federal and state historic and abandoned building tax credits to finance the renovation and rehabilitation of the school to provide office space for the local sheriff department, county parks and recreation department, 911 call center, and community theater
• Transformation of historic building in Tacoma, Washington Represent an HTC investor in connection with a deal transforming the second-tallest building in the Northwest into a residential building with 150 units of housing and some commercial space. In addition to HTCs, the transaction involved Opportunity Zone Fund equity.

Recognition

• Nixon Peabody has been named a Tier 1 National firm for Tax Law in the 2024 edition of Best Law Firms®.