The Virginia Department of Historic Resources (VDHR) recently commissioned an intensive study of the economic impact of the state historic tax credit. The study, “PRESERVING THE PAST, BUILDING THE FUTURE: HRTC AT WORK IN VIRGINIA” was undertaken on behalf of the Department by the at Virginia Commonwealth University. The full study can be found at https://www.dhr.virginia.gov/pdf_files/DHR%20HRTC%20Report.pdf
Frazier Associates is proud to have worked on many historic tax credit projects throughout Virginia over the past 31 years resulting in millions of dollars of investment and improved buildings in our downtowns. Our historic architects and staff have a vast amount of experience designing for the tax credit process and completing the three-part application process for property owners. All of our designs reflect The Secretary of the Interior’s Standards for Rehabilitation, which must be met to take advantage of these incentives. As the study points out, these rehabilitation projects contribute greatly to the economy of our communities long after they are completed “by making available commercial and residential square footage in historic districts that was previously unused or underutilized. These projects act as catalysts to attract businesses and residents in historic downtowns.” Read more about some of our tax credit projects or contact us to see how we can help explore using this incentive on your commercial or residential rehabilitation project.