Credit Worthy News

Northern Virginia Garden Apartments Rehabbed with Historic Tax Credits

Posted by Katherine Ferguson on Wednesday, August 10, 2016
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The Virginia Joint Subcommittee to Evaluate Tax Preferences has recently turned a scrutinizing eye toward the state Historic Rehabilitation Tax Credit that allows for a 25 percent credit against income, insurance premiums, and bank franchise taxes. In 2015, the program had a $98 million revenue impact on the Commonwealth. 

Colonial Village | Arlington, VA

In the August edition of the Novogradac Journal of Tax Credits, Bill MacRostie takes a look at how developers in Northern Virginia have transformed historic garden apartments and twinned historic tax credits and low-income housing tax credits to create affordable housing in communities that desperately need it. 

Read the article: Northern Virginia Developers Use Historic Tax Credits to Create Much-Needed Affordable Housing