Wolf Richter: What the Heck is Going on in the Stock Market?
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An Edwards affiliate bought the building at 570 S. Front St. from Grange Mutual Casualty Group in 2007 for nearly $2.3 million. The three-story building is the sole remnant of the Born Capital Brewery, one of four German breweries concentrated along South Front Street during the late 1800s and early 1900s. The building, which once served as the Born bottling operation, dates to 1895.
The redevelopment project, Edwards said, hinged on getting the building listed on the National Register of Historic Places, which lists sites of historical, cultural or architectural significance. Buildings on the register can qualify for government historic preservation tax credits.
“Without going on the register, you can’t get the rehab tax credits,” he (Jeff Edwards) said. “(They) made the project, even in this economy, much more economically viable.”