Preservation Is The Key To Urban Revitalization
How historic preservation, including tax credit benefits, is working in Detroit to spark urban revitalization.
"Over the past five years, new financing tools have sparked a wave of historic renovation work nationwide, including the $146.8 million restoration of the vacant Book-Cadillac Hotel in downtown Detroit into a 470-room hotel and 70 apartments.Through the use of tax credits for historic properties, which allow developers to sell a portion of the development costs of a renovation project to investors, more vacant buildings across the country are being spared from the wrecking ball."
Thanks to Richard Layman
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Published on Thursday, October 16, 2003 in
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