Wheatley: Tax credits to help fund renovation of historic buildings

HARRISBURG, Aug. 10 – State Rep. Jake Wheatley, D-Allegheny, announced today that projects to renovate four buildings in Pittsburgh’s 19th Legislative District have received Historic Preservation Tax Credits totaling $530,000. The credits will leverage construction costs of about $50.5 million.

“These buildings are a unique part of our history,” Wheatley said. “The renovations made possible by these tax credits will not only help us preserve this history for future generations, they will revitalize the surrounding residential and business districts and create new jobs. It’s an exciting development on the horizon.”

The tax credits will be allocated to the following projects:

  • 521 Armandale St. Rehabilitation of a historic row house in the Mexican War Streets Historic District, which will be turned into affordable housing. An $86,303 tax credit allocation will leverage $345,211 in estimated construction costs.

  • 1010 Morrison St. Rehabilitation of a historic row house in the Old Allegheny Rows Historic District, which will be turned into affordable housing. A $43,697 tax credit allocation will leverage $182,855 in estimated construction costs.

  • Arrott Building. Rehabilitation of an historic office building in the Fourth Avenue Historic District, which will be turned into a hotel. A $200,000 tax credit allocation will leverage about $43.2 million in estimated construction costs.

  • Bonn Building. Rehabilitation of an historic office building in the Penn-Liberty Historic District, which will be turned into commercial market rate apartments. A $200,000 tax credit allocation will leverage about $6.77 million in estimated construction costs.

The credits are part of a statewide package of tax credits to 21 projects that will leverage an estimated $257 million to preserve historic buildings.

The Historical Preservation Tax Credit program is administered by the Department of Community and Economic Development and the Pennsylvania Historical and Museum Commission, which is the commonwealth’s official history agency.