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Historic Preservation and Real Estate

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Adaptive Reuse

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Adaptive reuse involves repurposing an old building for a use that is different from what was originally intended, allowing property owners to maintain the historic character while adapting to current market demands.

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Facade Easement

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A facade easement is a legal agreement that restricts the alteration of the historic facade, ensuring that the property’s historical features remain intact, possibly providing tax benefits to owners.

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Historic Tax Credits

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This financial incentive provides a reduction in federal or state taxes in exchange for the certified rehabilitation of historic buildings, facilitating developers in financing preservation projects.

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Conservation District

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This is an area of special architectural, historical, or cultural significance whose properties are protected through regulation; crucial for developers when planning property changes.

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Section 106 Review

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This is a process required by the National Historic Preservation Act for all federally funded projects to consider their impact on historic properties, influencing developer's project designs and budgets.

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Certified Historic Structure

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A property officially recognized as historic by the National Park Service, often qualifying it for certain financial incentives for preservation, pivotal in investment decisions.

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Historic District

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An area that has been formally recognized for its historical significance, with regulations aimed at preserving the aesthetics, impacting developers' planning permissions and property values.

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Cultural Landscape

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Geographic areas that have been shaped by human interaction and hold historical significance, which can impact development projects involving public spaces or land.

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Heritage Tourism

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Tourism based on historic sites and cultural experiences, which can create revenue streams for property owners of historic buildings and motivate maintenance and preservation.

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Preservation Plan

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A long-term strategy outlining how to maintain and preserve a historic property, essential for owners to effectively manage and protect their investment.

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Easement Donation

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The act of giving a portion of property rights for the preservation of its historic, architectural, or cultural aspect, potentially leading to tax deductions for the owner.

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Infill Development

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Developing vacant or underused land within an existing urban area, often challenging due to historic preservation concerns, but can provide economic benefits to developers and communities.

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Preservation Economics

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The study and use of economic principles to determine the value of preserving historical sites, factoring into decisions on whether to preserve, alter or demolish a historic property.

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Secretary of the Interior’s Standards

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The set of guidelines for maintaining, repairing, and replacing historic materials, as well as designing new additions or making alterations, crucial for property owners seeking tax credits or grants.

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Landmark Status

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Official recognition by local, state, or national governments of a property's historic, architectural, or cultural importance, affecting property owner’s rights and potential uses.

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Transfer of Development Rights (TDR)

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A planning tool that allows property owners to sell or transfer the right to develop from their historic property to another location, protecting historic sites while still realizing potential financial benefits.

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Contextualism

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An approach in urban planning and architecture where new developments are designed to harmonize with historical surroundings, significant for developers working in historic districts.

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Building Conservation

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The process of preserving and maintaining a building’s structure, character, and heritage, crucial for prolonging the life of historic properties and potentially increasing their value.

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Historic Structure Report

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A comprehensive report that documents the history, significance, and condition of a historic building, serving as a guide for property owners in the care and maintenance of the structure.

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Demolition by Neglect

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The process whereby a historically significant building falls into severe disrepair due to owner's inaction, potentially leading to loss of cultural heritage and penalties for the property owner.

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