On Thursday, the Ohio Development Services Agency awarded $24,565,849 in Ohio Historic Preservation Tax Credits for the rehabilitation of 24 historic buildings. Together, the projects are expected to leverage approximately $261 million in private investments in seven communities, including Delaware.
“Preserving the historic charm of Ohio communities enhances the quality of life in our downtowns and neighborhoods,” said Lydia Mihalik, director of the Ohio Development Services Agency. “These buildings will be transformed creating new opportunities for economic growth.”
The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity. Once rehabilitated, they will drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.
The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.
In Delaware, an award was made to the Phi Delta Theta House project at 19 Williams Drive. The Phi Delta Theta House at Ohio Wesleyan University is located in the Fraternity Hill Historic District that includes several mid-20th century residences. The building, now vacant, will be rehabilitated by the University for continued future use for student housing with work being done to improve the mechanical systems, upgrade the finishes, and accommodate ADA access.
Total project cost is $7,723,184, and the total tax credit awarded is $764,672.
Several projects in Columbus were also awarded the Ohio Historic Preservation Tax Credit:
- The Standard Building at 174 E. Long Street downtown, which will be renovated with retail and office use on the first two floors and apartments and extended stay hotel suites on the upper floors.
- The Winders Building at 185 E. Long Street downtown, which was constructed as an auto showroom in 1916 and which will become office space for a single tenant.
- 48 Parkwood, originally built as a single family home and which will now house nine apartments and a space for the Ohio Baptist General Convention.
- Open Air School at 2571 Neil Avenue, built in 1927 as a school designed for students that might be susceptible to tuberculosis. It will become home to a mix of commercial tenants, which original fixtures maintained such as lockers, doors, and blackboards.
- 479 S. Ludlow, a part of the former L. Hoster Brewing Company in today’s Brewery District. This will be turned into detail use on the first floor, with office and apartments on the second and residential uses on floors three through five.
