Office & Retail

Commercial Business District Office Towers Can Benefit From Historic Tax Credits

Since industrialization, urban centers across the country have been building up. Early multi-story masonry buildings gave way to glass and steel skyscrapers to create the skylines that have become iconic for many cities. In the 1920s and 1930s, technology and design collided to create the International Style of building that became the prevalent blueprint for modern construction for many decades.

But what is to be done about the millions of square feet that have been left vacant and obsolete when businesses abandon these towers for new facilities or more convenient locations?

The Rainwater Building Receives South Carolina Historic Preservation Honor Award

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MHA client, BCN Holdings, Inc., is the recipient of a 2016 South Carolina Honor Award for their rehabilitation of the Rainwater Building in Downtown Florence. Built in 1921, the Rainwater Building now serves as offices for locally based Med-Enroll Corporation and Employ Reward Solutions. This award acknowledges the exemplary historic preservation of the building that included returning the primary storefront on the first floor to the historic 1930s scheme.

This rehabilitation is indicative of the revitalization the city of Florence is currently undergoing. With its location across West Evans Street from the recently renovated Florence Hotel, it contributes to the corridor of progress along this historic downtown streetscape. In addition, it is estimated that Med-Enroll will contribute upwards of 150 employment opportunities in Downtown Florence.

We are proud to have been part of the team on this important Main Street rehabilitation project. Congratulations!