The family home, business headquarters, or investment properties are old and possibly historic. These structures or landscapes may have historical significance because of their location, designer, architectural style, or the events that occurred there. Are there opportunities to protect the landscapes? Are their opportunities to identify tax breaks by pursuing historic designation? Some properties are situated in local, state or national historic districts and redevelopment/rehabilitation options aren’t clear. Or perhaps historic properties need upgrades and there is confusion about the best route to take, or the family must sell a property and is seeking methods to protect historic structures, landscapes or view corridors for future generations. Whether enthusiastic or reluctant owners of historic properties, there are many issues and opportunities involved. What are the tools available to protect properties, reap tax benefits, ensure historic integrity? How can you identify the best partners, advisors, and financing for these special properties?
Old buildings offer many opportunities but also have their share of challenges. Choices of rehabilitation or preservation co-exist with conversations about adaptive reuse possibilities. Historic designations by local, state or federal authorities can bring varied regulations and restrictions and also the possibility of historic tax credits. And of course there are the public and perhaps private family memories and stories of historic buildings and landscapes to be considered. Fairsted Advisors can help your family approach stewardship, sale or management with a road map for moving forward.