Astrup Historic Nomination and Tax Credit

Cleveland, Ohio

Why

The Federal Historic Tax Credit Program and the Ohio State Historic Tax Credit Program are two funding mechanisms that developers in the state of Ohio have to reuse and restore historic buildings. The Federal Tax Credit requires that the building be listed on the National Register of Historic Places. The Ohio State Tax Credit Program is extremely competitive, with less than half the applicants in the state receiving tax credits for their projects.

The state program requires that the property be historically designated either locally or nationally. The Federal Tax Credit and State Tax Credit can be used together to fund up to 45% of the total project cost, offering developers the chance to rehabilitate and reuse historic buildings and revitalize communities.

How

From November of 2017 until February of 2018, Designing Local researched the Astrup Awning Company building at 2937 West 25th Street in Cleveland, with the help of the Great-Grandson of the Astrup Company’s founder and old company records, and assembled a National Register Packet.

In June of 2018, the Astrup Company Nomination was approved by the Ohio Historic Site Preservation Advisory Board and on August 31st of the same year the National Parks Service announced the official listing of the building.

During this time, Designing Local also worked with the State Historic Preservation Office, as well as the owner and project architects, to apply for the 21st round of Ohio Historic Preservation Tax Credits, of which only 43% of the projects in the state were awarded credit. The Astrup Company Project was awarded $1,615,000 in State Historic Tax Credits in December of 2018.

What

The Astrup Company Building is a former industrial complex in the Clark-Fulton neighborhood south of downtown Cleveland. The project combines the rehabilitation of the historic complex with construction of new residential buildings on a vacant lot.

The historic buildings will be converted for community-focused and arts-based end users, including the Boys and Girls Club, Cleveland Museum of Art, dance, theater, and artist studios. New-construction housing will have dedicated affordable units as well as market-rate units.

Client

Foran Group Development LLC

Team

Smith & Sauer (Architects)

Gaslamp Capital

Designing Local (Preservation Lead)

Services

Historic Preservation

People

Josh Lapp

Amanda Golden