Steeple View Lofts

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SVL Featured in Novogradac Journal of Tax Credits Article

MLP Launches Developer’s First HTC Project, Nonprofit’s Frist Urban Community
By Jennifer Dockery, Associate Editor, Novogradac & Company LLP

DSCN0367Two Pennsylvania-based organizations have entered new territory with their renovation of a 19th century building in Lancaster, Pa.’s Gallery Row arts district. Once home to a tobacco factory, silversmith and most recently a fine goods store, Steeple View Lofts will welcome active older adults and businesses when renovations are completed this month. The mixed-use building is the first historic tax credit (HTC) project for Pittsburgh, Pa.-based Zamagias Properties and first urban independent living community for Lancaster-based nonprofit Landis Communities. The partners used a master-lease partnership (MLP) agreement to bring new residents into the neighborhood and return a historic building to the tax rolls. Read the entire article by clicking here.
This article first appeared in the June 2013 issue of the Novogradac Journal of Tax Credits.

© Novogradac & Company LLP 2013 – All Rights Reserved

Notice pursuant to IRS regulations: Any U.S. federal tax advice contained in this article is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties under the Internal Revenue Code; nor is any such advice intended to be used to support the promotion or marketing of a transaction. Any advice expressed in this article is limited to the federal tax issues addressed in it. Additional issues may exist outside the limited scope of any advice provided – any such advice does not consider or provide a conclusion with respect to any additional issues. Taxpayers contemplating undertaking a transaction should seek advice based on their particular circumstances.

This editorial material is for informational purposes only and should not be construed otherwise. Advice and interpretation regarding property compliance or any other material covered in this article can only be obtained from your tax advisor. For further information visit www.novoco.com.

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