Massachusetts Historic Tax Credits Facilitates Rehabilitation of 1870's Building

Bob Dorfman, president of Dorfman Capital, announced the completion of a Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of the Davis and Sargent Building, 585 Middlesex Street, Lowell, MA. The building, originally built in 1870's as a mill building, has been restored into a 24,000 square feet LEED certified office building, which will be owned and occupied by Nobis Engineering, an environmental, civil and geotechnical engineering firm.

Boston, MA (PRWEB) February 14, 2009 -- Bob Dorfman, president of Dorfman Capital, announced the completion of a Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of the Davis and Sargent Building, 585 Middlesex Street, Lowell, MA. The building, originally built in 1870's as a mill building, has been restored into a 24,000 square feet LEED certified office building, which will be owned and occupied by Nobis Engineering, an environmental, civil and geotechnical engineering firm.

The building is a contributing structure in the Lowell National Historic Park and Preservation District.

Owners of properties listed in historic districts may be eligible for a 20% federal investment tax credit and state historic tax credits for the certified rehabilitation of income-producing certified historic structures such as commercial, industrial, or rental residential buildings.

About Dorfman Capital
Overlook Associates, historic and financing consultant to the project, engaged Dorfman Capital to place the historic tax credits with investors. Dorfman Capital specializes in the sale of federal and state tax credits for affordable housing and historic rehabilitation projects as well as film productions. These tax credits are an integral component of the financing for these projects and productions.

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