While often perceived as inefficient and antiquated, historic buildings can play a valuable role in improving the efficiency and sustainability of a CRE portfolio.
Especially when the property market is tight, interest rates are high, and construction costs are soaring, Historic Tax Credits can be a critical source of funding for owners and developers seeking to reap the benefits of rehabilitating a historic property.
While redeveloping historic properties can be challenging, broader benefits can make adaptive reuse an attractive option for developers, investors, and/or occupiers to differentiate their brands, demonstrate ESG priorities, and leverage unique financing opportunities.