HUD Announces Historic Preservation Award

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Tax Credit Advisor, December 2009: The U.S. Department of Housing and Urban Development (HUD) recently presented the 2009 HUD Secretary’s Award for Excellence in Historic Preservation to Gorman & Company, Inc., for its Fairbanks Flats Rowhomes historic preservation development in Beloit, Wisc.

The Oregon, Wisc.-based development firm was recently recognized for the same project by the National Housing & Rehabilitation Association, receiving an NH&RA 2009 J. Timothy Anderson Awards for Excellence In Historic Rehabilitation (see p. 19).

Fairbanks Flats Rowhomes involved the $3.2 million redevelopment of a local landmark property originally built as segregated company housing. Fairbank Flats was one of only two building sites in the U.S. ever constructed to house African American workers. Constructed in 1917, the property changed hands over the years and the buildings fell into disrepair before becoming vacant in 1999. Gorman & Company redeveloped the complex into 16 rent-to-own affordable townhouses for low- to moderate-income families and persons with disabilities, using a mix of funding sources.