Market at Fifth Receives National Housing & Rehabilitation Association Award

PHLF News
November 3, 2009

The National Housing & Rehabilitation Association (NH&RA) recently presented its 2009 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation to ten outstanding historic rehabilitation projects throughout theU.S.  The awards were presented at a special luncheon during NH&RA’s 2009 Annual Fall Developers Forum conference at the Taj Hotel to honor outstanding real estate projects that involved rehabilitation of older, historic buildings using the federal historic rehabilitation tax credit. This year’s nominees competed in eight categories.

This year’s categories, and the winners in each, are as follows:

Best Mixed-Income Residential

Baker Square II, Dorchester, MA
Developer:    WinnDevelopment, Boston, MA
Architect:     The Architectural Team, Chelsea, MA

Best Market-Rate Residential

Market at Fifth, Pittsburgh, PA
Developer:    Market at Fifth, LP, Pittsburgh, PA
Architect:     Landmarks Design Associates, Pittsburgh, PA

Best Historic Rehabilitation Project Utilizing New Markets Tax Credits

Court Square Center, Memphis, TN
Developers: CGI & Partners Court Square Center, LLC, Memphis, TC
Telesis Corporation, Washington, DC

Architect:     CM Design Corporation, Memphis, TN

Best Commercial / Retail / Non-Residential Project

The Old Cotton Factory, Rock Hill, SC
Developer:    Barwick & Associates, Charlotte, NC
Architect:     McClure Nicholson Montgomery Architects, Charlotte, NC

Best Historic Rehabilitation Project Involving New Construction

Globe Mills, Sacramento, CA
Developer:    C.F.Y. Development Incorporated, Sacramento, CA
Architect:     Applied Architecture, Inc., Sacramento, CA

Most Innovative Adaptive Reuse

Charles H. Shaw Technology & Learning Center, Chicago, IL
Developer:    Homan Arthington Foundation, Chicago, IL
Architect:     Farr Associates, Chicago, IL

Best Historic Rehabilitation Project Utilizing Low-Income Housing Tax Credits – Large

Toward Independent Living & Learning (TILL), Chelsea, MA
Developer:    Toward Independent Living & Learning, Dedham, MA
Architect:     Mostue & Associates Architects, Somerville, MA

Best Historic Rehabilitation Project Utilizing Low-Income Housing Tax Credits – Small

Fairbanks Flats Rowhomes, Beloit, WI
Developer:    Gorman & Company, Inc., Oregon, WI
Architect:     Gorman & Company, Inc., Oregon, WI

The “Timmy” Awards were created by NH&RA in 2005 in memory of the late Boston architect and preservation advocate J. Timothy Anderson, a leader in the historic rehabilitation business.  Throughout his career, Tim helped pioneer the adaptive reuse of historic buildings throughout Boston and other parts of the U.S.  Tim’s notable Boston-area projects include the conversion of the Prince Spaghetti Building into housing, and the adaptation of Old City Hall for mixed-use.  His conversion of the old Central Grammar School in Gloucester into housing for the elderly became a national prototype for the reuse of surplus schools in urban areas.

The federal historic rehabilitation tax credit is a primary tool used to generate equity to preserve and rehabilitate historic properties.  The rehabilitation credit is a “two-tiered” credit, because there are two possible rates for calculating of the credit amount. The 20% credit is available for income-producing buildings that are considered certified historic structures. The 10% credit is available for non-residential, income-producing buildings originally constructed before 1936, which are not certified historic structures.  Historic tax credits are often paired with other federal, state and local tax credits and subsidies and are often used in the development of affordable and market-rate rental housing as well as commercial, retail and industrial developments

For more than 38 years, National Housing & Rehabilitation Association has provided an ongoing forum for professionals in affordable housing and historic rehabilitation to exchange information and build new business relationships. For more information on the “Timmy” Awards, the Fall Developers Forum or NH&RA please visit www.housingonline.com or contact Greg Sidorov, 202-939-1773, gsidorov@dworbell.com.

The 2009 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation are co-sponsored by the National Trust Community Investment Corporation, a subsidiary of the National Trust for Historic Preservation.