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
FULL STORY: Tax Credits Spark Historic Preservation
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