Congratulations to the owners of five Columbus historic properties awarded Ohio Historic Preservation Tax Credits through the Ohio Department of Development. In total, $35.8 million in Ohio Historic Preservation Tax Credits was awarded to 18 owners around the state. The projects are expected to leverage more than $237.5 million in private investments.
06.26.12 Columbus Business First story
06.27.12 Columbus Dispatch story
The Columbus recipients are:
620-30 East Broad Street (Benjamin Huntington Mansion)
Total Project Cost: $2,203,539
Total Tax Credit: $313,145
Address: 620-30 East Broad St., 43215
Originally constructed as private mansions in the 1870s for Benjamin Huntington (brother of Peletiah Huntington) and Andrew Denny Rodgers (son-in-law of William Sullivant), 620 and 630 East Broad were converted to office space in the late 1920s to house the Ohio Farm Bureau Federation, progenitor of Nationwide Insurance. The two houses were listed in the National Register of Historic Places and rehabilitated for offices in the late 1980s. Now largely vacant, the buildings will be rehabilitated to address deferred maintenance needs and install necessary upgrades to support new commercial office tenants.
Franklinton Post Office (David Deardurff Log Cabin/Old Old Old Post Office)
Total Project Cost: $640,000
Total Tax Credit: $125,000
Address: 72 South Gift St., 43215
The pioneer Deardurff log home of 1807 is the Old Old Old Post Office on Gift Street and one of the first public buildings constructed in present-day Columbus. Later expanded and covered in clapboards, the property functioned as a private residence until the 1950s. The vacant building will be rehabilitated in celebration of Columbus’ Bicentennial celebration as a local history museum.
Total Project Cost: $12,609,992
Total Tax Credit: $2,996,686
Address: 305-397 East 11th Avenue and 1499-1502 North 5th Street, 43201
Located in the new Indianola Historic District on the border of Weinland Park and the University District, Grant Commons includes the rehabilitation of 23 duplex and rowhouse properties. The buildings were constructed in the 1920s and acquired by Community Properties of Ohio as part of a larger portfolio of affordable housing properties. Originally planned for demolition, the blighted buildings will instead be rehabilitated into market-rate apartments through a partnership with Wagenbrenner Development which is currently leading a larger revitalization effort in the Weinland Park neighborhood.
Total Project Cost: $27,600,000
Total Tax Credit: $5,000,000
Address: 50 West Broad Street, 43215
An icon of the Columbus skyline, the Lincoln-LeVeque Tower was constructed by the American Insurance Union (AIU) as the AIU Citadel in 1927. Clad in terra cotta, the office building is underutilized with tenants occupying just over half of the building’s leasable square feet. Rehabilitation will transform the landmark into a mixed-use complex with high-end apartments in the tower and revitalized office space in the base.
Yankee Trader Building
Total Project Cost: $3,895,700
Total Tax Credit: $664,900
Address: 463 North High Street, 43215
The Yankee Trader Building was originally constructed as a furniture store for the Parish family. Previously used for more than four decades by Yankee Trader, a novelty and costume shop, the building was vacated in 2010. Redevelopment plans include a fast-casual hamburger restaurant on the ground floor, office space for Triad Architects on the second floor, and 12 high-end apartments on the upper three floors.