Historic development maintains edge in weak economy
According to Fort Worth Business Press reporter Aleshia Howe, “Historic buildings in Fort Worth have weathered dozens of storms throughout the years and now they can add one more to the list – the current economic storm.
As nearly every sector of real estate has been hit hard by the slowed market, local developers say historic building rehab projects are holding steady thanks to their niche market and some available tax credits.
Jerre Tracy, executive director of Historic Fort Worth Inc., said all of the historic renovation projects she is aware of currently under way in Fort Worth are continuing, while several mainstream projects are not – a sign of the times, she said.
Glen Hahn, president and CEO of Innovative Developers Inc. in Fort Worth, said the cost of performing a historic renovation project can often be less than building from the ground up – a key selling point for a developer in today’s market.”
To read the full story, visit: http://www.fwbusinesspress.com/display.php?id=10613