Schumer said this project is widely supported by the community because it would preserve significant and distinctive history, while complementing the surrounding neighborhoods. Without these tax credits, the adaptive reuse costs could be prohibitive. Schumer therefore urged NPS to expedite the developer’s application to list the “Nipper Building” on the National Register of Historic Places so that the beloved statue can be preserved for future generations. …
Source: Making Nipper a landmark — officially | All Over Albany
The award consists of $1,003,000 in rental housing tax credits coupled with $500,000 in additional funding that will be leveraged to complete the $12,155,229 project.
The development, which will be known as Historic Whitlock Place, will reuse the former facility to create modern apartments while eliminating a blight that has persisted in the heart of the community for three decades. Additional work is planned to improve the infrastructure in the neighborhood and create a direct link to the downtown area.
Keith Veal of Sustainable Solutions Inc., and a 1992 Wabash College graduate, is spearheading the project, which is expected to add up to 60 housing units for seniors.
via Old Culver project receives tax credits – journalreview.com: News.
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