Urban Sites seeks tax credits for Main Street site

Urban Sites Properties has applied for Ohio Historic Preservation Tax Credits for its Courtyard project at 1417-1421 Main Street.

The tax credits, which are distributed by the Ohio Department of Development (ODOD), are equal to 25 percent of the owner's qualifying rehabilitation expenditures.*

ODOD and the Ohio Historic Preservation Office have deemed eligible $685,511 of the projected $945,513 project cost.**

Both buildings are in the Over-the-Rhine Historic District, one of 28 City districts listed in the National Register of Historic Places.

Units in the buildings will be loft-styled with stainless appliances, granite countertops and skylights. There will also be off-street parking and a common courtyard.

No details about the number of units or the pricing are available.

The upper floors were previously used as offices and storage. First floor tenant spaces are currently occupied by Mainly Art and Vintage Poster Bank.

Ohio Historic Preservation Tax Credits are issued throughout the year with only 100 tax credits issued during any one year period.

Statewide, there are 72 projects currently seeking credits.

View 12 interiors on the Urban Sites Properties website

WINDOWS LIVE BIRD'S EYE VIEW (looking west)
GOOGLE AERIAL MAP

* The credit can be claimed against the building owner's Ohio corporate franchise tax, personal income tax, or dealer-in-intangible tax liability.
** In other words, roughly $171,378 in tax credits.