Historic Tax Credits
The Historic Tax Credit program transforms historic buildings and iconic landmarks into modern and vibrant commercial and community spaces.
Making use of existing buildings is a highly efficient means of creating housing and mixed-use spaces, while preserving the history of classic architecture. State and federal Historic Tax Credits (HTC) help to make such projects feasible.
Cinnaire makes strategic use of the HTC as part of our overall equity and financing packages for eligible rehabilitation projects. We’ve invested in affordable apartments in an historic school building and a 100 year-old Sears department store; luxury lofts and commercial spaces; and a 110-room hotel and retail building.
As with all of our investment and financing activities, Cinnaire people who know and are personally involved in communities make all the difference. Our on-the-ground presence helps us to minimize the risk for our investors and maximize our added value to development partners.
Revitalizing Historic Properties
Wisconsin Hotel Renovated, Restoring Historical Elegance
When “Hotel Wausau” was completed in 1925 the stately building served as the primary commercial hotel in downtown Wausau, WI. In the mid 1970s, the hotel closed and was converted into The Landmark, a multi-family residential building. And by 2019, the building was In dire need of revitalization.
Cinnaire partnered with Gorman & Co. to upgrade the 94 affordable housing units and common areas, retaining as much of the historic features and finishes as possible. In addition, Lutheran Social Services committed to providing supportive services to residents, including low-income veterans, individuals, and families who may require access to supportive services to maintain housing.
Funding for this project included LIHTC, State and Federal Historic Tax Credits, an Affordable Housing Preservation Loan and a HOME Loan.
Michigan's School for the Blind Restored as Senior Living Residence
Michigan's School for the Blind first opened in 1880, serving visually impaired youths and adults--including Stevie Wonder--for over 100 years. In 1996, the school closed and the 20-acre campus located in the center of a Lansing neighborhood fell into disrepair.
In 2012, Cinnaire saved the iconic Lansing landmark from foreclosure. Teaming up with TWG Development the campus was revitalized, Newly erected Walnut Park Apartments features 64 units of affordable housing and 8 units of market rate housing. Two additional buildings – the historic Abigail administrative building and the High School building – were redeveloped into 60 units of affordable senior housing. The developer partnered with the Blind Childcare’s Fund and alumni to commemorate the School’s history in the main entrance area of Walnut Park Apartments.
Everyone Deserves a Place to Dwell
Dwelling Place, a nonprofit, affordable housing developer, had a vision to bring new opportunities to downtown Grand Rapids, Michigan. With support from Cinnaire, through the allocation of Low-Income Housing Tax Credits and Federal Historic Tax Credits, the historic Hotel Herkimer opened its doors to provide newly restored, permanent supportive housing for homeless, or near-homeless, individuals and/or persons with disabilities. The renovated structure retained the brick exterior, vaulted ceilings, hand-carved banisters, classic woodwork, two-story atriums, and skylights, while providing modern conveniences for residents of Herkimer Apartments.
Our Locations
Home Office - Lansing
1118 South Washington
Lansing MI, 48910
Indianapolis
320 North Meridian, Suite 516
Indianapolis IN, 46204
Wilmington
100 W. 10th Street, Suite 502
Wilmington, DE 19801
Chicago
225 West Washington, Suite 1350
Chicago, IL 60606
Madison
10 E. Doty Street, Suite 617
Madison, WI 53703
Grand Rapids
100 Cesar E. Chavez Ave., Suite 202
Grand Rapids, MI 49503
Detroit
2111 Woodward Avenue, Suite 600
Detroit, MI 48201
Milwaukee
231 E. Buffalo Street, Suite 302
Milwaukee, WI 53202
