Preservation Studios to work on Niagara Falls revitalization project

Buffalo-based Preservation Studios, a full-service historic preservation consulting firm serving all of New York State and the Greater Northeast, has been retained by an investment fund operated by Blue Cardinal Capital(BCC), as historic tax credit consultant for the recently-announced renovation and restoration of properties on North Main Street.

Preservation Studios will assist BCC in identifying historic properties in that section of Main St., which will include many of the 38 properties purchased by Blue Cardinal Capital, enabling BCC and other owners to utilize historic tax credits. Preservation Studios will also assist in the completion of historic tax credit applications, with the goal of National Register Historic District designation for the neighborhood through the New York State Office of Parks, Recreation and Historic Preservation State Historic Preservation Office (SHPO).

The State and National Registers of Historic Places contain lists of a variety of historic landmarks, including districts, architecture, archeology and engineering. SHPO determines a whether a location is accepted to the list or not. Eligibility criteria for both the state and national registers are the same.  Locations are nominated to aid the completion and accurate documentation of eligible sites, according to the standards set by SHPO.

“The Historic Tax Credit is an important economic driver in communities like Niagara Falls,” said Derek King, Preservation Studios principal, architectural historian and Director of Operations. “By being listed on the National Register, these properties will be eligible for 40% in tax credits on any work they do on their buildings.”

“The historic character of this downtown neighborhood is an important part of what we want to celebrate and preserve going forward,” said John Cake, president of Blue Cardinal Studio, which is providing advisory services to Blue Cardinal Capital on design and construction activities of their developments, including North Main Street in Niagara Falls.

King said the goal is to have a full draft for submission by the end of the year. That will be followed by a six to nine-month process for nomination to the National Register.

 “We’re really excited to be part of a great new development project in one of the most historic parts of the region.  Suspension Bridge was its own municipality at one point before being annexed by Niagara Falls. It has its own rich history before being connected to the city. It’s a great project for the potential reactivation of that corridor,” King said.