The word ‘Historic’ has different meanings for different people. When you say ‘historic’ to a Realtor in Richmond, Virginia familiar with Federal and State Historic Tax Credit programs, it means something pretty important.
The HTC programs provide a powerful financial incentive to renovate properties in accordance with historical guidelines.
While the nuances and subtleties of the programs are many, the programs have been used extensively within the development community to bring many of the warehouses and other ‘historic’ properties of Shockoe, Manchester and Scott’s Addition back to life. And while the impact of these large scale renovations are readily apparent, few realize that the same programs can be used for smaller properties, including single family homes (subject to some different rules).
Anyone interested in using the Historic Tax Credit programs should spend a few minutes with a qualified architect, architectural historian or highly experienced contractor (we would be happy to make some recommendations) to get a sense of how the programs operate. They are complex and we do not recommend a DIY approach until you have navigated the process several times.
Below is a list of homes available for sale in these districts.
** DISCLAIMER – being on the list below simply means the property is located within the district and not necessarily that it qualifies for the credit prgrams. Before purchasing any of the properties in expectation of qualification for the Historic Credit programs, one should verify that the property qualifies.