Bob Dorfman, president of Dorfman Capital, announced the completion of a Massachusetts Historic Tax Credit sale associated with the rehabilitation of ADD Inc.’s new headquarters located at 311 Summer Street, Boston, MA. ADD Inc. is a leading architecture and design firm.
Located in the Boston Wharf District, ADD Inc.’s sensitive repositioning of 311 Summer Street was informed by the desire to preserve the historic identity of this prominent building while incorporating strategic sustainable design practices. The original structure of the early 1900s was restored to full occupancy to create 60,000 square feet of office and retail space. This project is a leading example of the historic renovation work that can be done to sustain economic vitality in an area. 311 Summer Street is also pursuing LEED CI Certification at the Platinum level from the US Green Building Council.
Owners of properties listed in historic districts may be eligible for a 20% federal investment tax credit and state historic tax credits for the certified rehabilitation of income-producing certified historic structures such as commercial, industrial, or rental residential buildings.
About Dorfman Capital
Dorfman Capital specializes in the origination and sale of federal and state tax credits for affordable housing, historic rehabilitation projects, Brownfields remediation, and film production. These tax credits are an integral component of the financing for these projects and productions. Dorfman Capital works with entrepreneurs and investors on business expansion and historic preservation projects to create economically and environmentally healthy communities so that people can reach their full potential. Areas of expertise are government guaranteed financing, tax exempt and taxable debt financing, venture capital, and tax credit financing.