The Pennsylvania Department of Community and Economic Development (PA DCED) recently announced that it has awarded $5 million in Pennsylvania historic preservation tax credits (PA HPTC) to 22 projects across the commonwealth through the FY 2019-2020 PA HPTC Allocation.
The application period for the next round opens October 1, 2020.
Preservation Tax Credits awarded to 22 projects
State investment by Pennsylvania’s Historic Preservation Tax Credit (PA HPTC) stimulates over an estimated $297 Million in rehabilitation expenditures for projects that preserve historic buildings, revitalize communities, and promote local economic development.
The twenty-two projects receiving $5 million in tax credits will leverage with an estimated $297 million in construction projects. In all, 58 applicants had sought over $21 million in tax credits for construction projects totaling more than $600 million in estimated costs.
Selected projects range from the updating the historic Gamble Mill in Bellefonte, Centre County into a restaurant event space with supporting residential use to the rehabilitation of the nationally significant Carl Mackley Houses in the Juniata Park neighborhood of Philadelphia for continued affordable housing use to the adaptive reuse of the landmark Pit