Historic and
Real Estate Advisors
About Us
01
History
REDSHIELD has many years of experience with consulting and advising clients. REDSHIELD was formed after many years of experience in the real estate development field. Through our hands on experience in real estate development we have developed the necessary understanding of projects from a developer standpoint instead of a mere consultant view.
History
People
REDSHIELD's team consists of a group of historic consultants, developers, attorneys and accountants with years of experience in historic real estate development. Our firm has focused on making otherwise unfeasible development projects possible through the utilization of federal and state historic rehabilitation tax credits and other tax incentives and grants. Our group has been involved in developing The Harmony Mills, one of the largest mill buildings in New York State, into luxury lofts apartments and was instrumental in the passage of a New York State bill that instituted New York State Historic Tax Credits. Through our efforts, Harmony Mills was the first project in New York to receive state historic rehabilitation tax credits.
02
People
03
Approach
REDSHIELD provides consulting services for obtaining historic tax credits, grants and tax incentives to developers active in the rehabilitation of historic income-producing properties. REDSHIELD is unique in that it applies a developers’ standpoint approach to each project. With years of experience developing historic properties, RedShield understands historic preservation from both a consultants and developers standpoint
Approach
Syndication
REDSHIELD guides contractors, developers, lessees, lessors, owners and architects through the complex process of obtaining historic tax incentives. REDSHIELD syndicates federal and state historic tax credits. In instances where the property owner can't utilize the tax credits, we syndicate the credits to large corporations with tax liabilities and monetize the credits. We work together with the property owner to obtain the best offer for their historic tax credits.
04
Syndication
Historic Tax Credits
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REDSHIELD guides builders, developers, owners and architects through the complex process of obtaining historic rehabilitation tax credits.
Historic buildings are tangible links with the past. They help give a community a sense of identity, stability and orientation. The Federal government encourages the preservation of historic buildings through Federal tax incentives to support the rehabilitation of historic and older buildings. The Federal Historic Preservation Tax Incentives program is one of the Federal government's most successful and cost-effective community revitalization programs. The National Park Service administers the program with the Internal Revenue Service in partnership with State Historic Preservation Offices. The tax incentives promote the rehabilitation of historic structures of every period, size, style and type. They are instrumental in preserving the historic places that give cities, towns and rural areas their special character. The tax incentives for preservation attract private investment to the historic cores of cities and towns. They also generate jobs, enhance property values, and augment revenues for State and local governments through increased property, business and income taxes. The Preservation Tax Incentives also help create market rate and low-income housing in historic buildings. Through this program, abandoned or underused schools, warehouses, factories, churches, retail stores, apartments, hotels, houses, and offices throughout the country have been restored to life in a manner that maintains their historic character.
The federal historic preservation tax incentives program is jointly administered by the U.S. Department of the Interior and the Department of the Treasury. The National Park Service (NPS) acts on behalf of the Secretary of the Interior, in partnership with the State Historic Preservation Office (SHPO) in each State. The Internal Revenue Service (IRS) acts on behalf of the Secretary of the Treasury. Certification requests (requests for approval for a taxpayer to receive these benefits) are made to the NPS through the appropriate SHPO. Comments by the SHPO on certification requests are fully considered by the NPS.
Many states offer rehabilitation tax credits in addition to the federal rehabilitation tax credit incentives. For example, New York offers a state historic rehabilitation tax credit in addition to the federal historic rehabilitation tax credit.
Projects
SELECTED PROJECTS
HARMONY MILLS, 100 North Mohawk Street, Cohoes, NY
Harmony Mills was the largest cotton mill complex in the world when it opened in 1872. RedShield Historic Advisors was actively involved in the development of and prepared the application for historic tax credits for Harmony Mills and assisted in the syndication of the historic tax credits. Harmony Mills was converted into in to 340 luxury lofts.
The Lofts at One Broadway THE , Menands, NY
RedShield Historic Advisors advised on the conversion, development and procurement of state and federal historic tax credits of the 14 acre former Albany Felt Company Complex to luxury lofts .
VICTORY MILLS, 42 Gates Avenue, Victory, NY
RedShield advised on the application for National Register Historic nomination and n preparing the Part 2 and 3 applications for federal and state historic tax credits.
STATE TOWERS, 90 State Street, Albany, NY
State Towers is a historic 15 story signature office tower in Downtown Albany. RedShield Historic Advisors advised on the financing and the rehabilitation of State Towers.
CHALMERS MILLS, 21-41 Bridge Avenue, Amsterdam, NY
RedShield Historic Advisors advised on the application for National Register Historic nomination and the development of Chalmers Mills.
DIXWELL RETAIL CENTER, 1315 Dixwell Avenue, Hamden, CT
Redshield Historic Advisors advised on the successful conversion of an empty, boarded up historic ammunition plant into a retail and self storage center.
RESIDENTIAL LOFTS,16 East 18th Street, Manhattan, NY
Redshield Historic Advisors advised on the the conversion of a ten story loft building in a historic district in Manhattan, NY.
CORN EXCHANGE, 81 East 125th Street, New York, NY
RedShield Historic Advisors advised on the restoration of the former Mount Morris Bank in Upper Manhattan.
ART WAREHOUSE, Brooklyn, NY
RedShield Historic Advisors advised on obtaining historic tax credits for a thirty million dollar conversion of a historic building into an of an art warehouse in Brooklyn, NY.
MULTI BUILDING INDUSTRIAL WAREHOUSE COMPLEX, Brooklyn, NY
RedShield Historic Advisors is advising on the application for federal and state historic tax credits for a large and historic complex of warehouses and factories consisting of millions of square feet in Brooklyn, New York.
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OLD CHICAGO MAIN POST OFFICE, Chicago, IL
RedShield Historic Advisors advised on obtaining historic tax credits for the 2.8 million square feet Old Chicago Main Post Office.