Novogradac Historic Rehabilitation Awards Demonstrate Flexibility of Historic Tax Credit

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Development Teams to be Honored at Novogradac Conference in Denver, Sept. 28

The Novogradac Journal of Tax Credits today announced the recipients of the 2017 Historic Rehabilitation Awards, which recognize historic rehabilitation development teams for exceptional and creative use of the historic tax credit (HTC). Winners will be honored Sept. 28 at the Novogradac Historic Tax Credit Conference in Denver.

“One of my favorite aspects of our annual Novogradac Historic Rehabilitation Awards is how the program highlights the flexibility and effectiveness of the historic tax credit,” said Tom Boccia, CPA, conference chairman and partner at Novogradac & Company LLP’s Cleveland office. “I’m looking forward to our awards ceremony in Denver, where we get to honor the teams that have worked hard to get this year’s winning developments to the finish line.”

Awardees were recognized in four categories:

Historic Residential Development that Best Exemplifies Major Community Impact
o    Winner: Rosenwald Courts in Chicago

  •     Developer: Rosenwald Courts LP

o    Honorable mention: Residences at Eagle's Point in Eaton, Ohio

  •     Developer: Miller Valentine Residential Development LLC

Historic Residential Development that Overcame Significant Obstacles
o    Winner: West 25th Street Lofts in Cleveland

  •     Developers: Smythe Property Advisors and the Foran Group

o    Honorable mention: The Capewell Lofts in Hartford, Ct.

  •     Developer: Corporation for Independent Living Development Inc.

Historic Non-Residential Development that Best Exemplifies Major Community Impact
o    Winner: Drayton Mills Marketplace in Spartanburg, S.C.

  •     Developer: TMS Development

o    Honorable mention: Westport Commons in Kansas City, Mo.

  •     Developer: HP Development Partners LLC

Historic Non-Residential Development that Overcame Significant Obstacles
o    Winner: Westport Commons in Kansas City, Mo.

  •     Developer: HP Development Partners LLC

o    Honorable mention: Drayton Mills Marketplace in Spartanburg, S.C.

  •     Developer: TMS Development

Descriptions of the Novogradac 2017 Historic Rehabilitation Awards winners can be found at http://www.novoco.com/events/awards/2017/historic-rehabilitation-awards. Nominations for the 2018 round are due April 27, 2018. In addition, the Novogradac Journal of Tax Credits conducts several award programs that recognize excellence in affordable housing, community development and renewable energy. More information can be found at http://www.novoco.com/events/awards

About Novogradac & Company
Novogradac began operations in 1989 and has since grown to more than 600 employees and partners with offices in San Francisco, San Rafael, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; St. Louis; Boston; New York; Chicago; Austin and Dallas, Texas; Portland, Ore.; Naples, Fla., Raleigh, N.C.; Toms River and Iselin, N.J.; and the greater metropolitan areas of Philadelphia; Washington, D.C.; Atlanta; Detroit; Kansas City, Mo.; and Seattle.

Specialty practice areas include tax, audit and consulting services for tax-credit-assisted affordable housing, community revitalization, rehabilitation of historic properties and renewable energy. Other areas of expertise include business valuation, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.

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