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Historic Tax Credits for Developers A Guide to Syndication and Beyond Iped February 8, 2007 Los Angeles, CA.

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Presentation on theme: "Historic Tax Credits for Developers A Guide to Syndication and Beyond Iped February 8, 2007 Los Angeles, CA."— Presentation transcript:

1 Historic Tax Credits for Developers A Guide to Syndication and Beyond Iped February 8, 2007 Los Angeles, CA

2 Inside the Box John M. Tess President Heritage Consulting Group

3 Portland Oregon National Guard Armory Annex Built 1891

4 Building Materials: Stone & Brick Wood-truss roof system Uses: Armor Storage Shooting Range Drill Hall Event Hall

5 Prior to its extended vacancy the Armory was a beer warehouse

6 10 Years of knocking ideas around Health club Big box retailer Demo Theater

7 Drawbacks Mass Few windows/little light Poor ventilation Parcel worth more than building

8 Location Pearl District/Brewery Blocks

9 A Enormous Endeavor Convert the Portland Oregon Armory Annex building into a performing arts theater using sustainable design.

10 Goals Create a center for the performing arts Demonstrate practical elements of green restoration Rehabilitate a historic building Make it a successful Tax Act project

11 2 Basic Issues Successful Theater Platinum LEED Certification

12 Issue 1 Achieve financial success to secure the future

13 Box within a Box

14 World Class Theater Design Staging Sightlines Acoustics Multiple Venues

15 NPS concern was maintaining a sense of interior volume

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17 Issue 1 - Resolution Resolved by extensive use of glass and extraordinary effort to maintain sightlines.

18 Particular Challenge of Designing the Atrium Serve the Theater Meet the Secretarys Standards

19 Issue 2 To become the first project to achieve a Platinum LEED Rating while using Federal Investment Tax Credits

20 Issue 2 LEED Certification required daylight and passive air systems NPS was concerned with the visual impacts on the exterior

21 Issue 2 - Resolution Located offices on top of the box with the roof exposed Negotiated number and location of skylights and vents Low profile skylights and Equipment Painted to match roof

22 The project achieved a Platinum LEED rating, a first for a historic building First in the World

23 Before

24 After

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28 Success

29 John M. Tess President Heritage Consulting Group 1120 NW Northrup Street Portland, Oregon

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