Back to School using historic preservation and education resources to empower Rust Belt neighborhoods
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1 Back to School using historic preservation and education resources to empower Rust Belt neighborhoods JASON YOTS, PRESIDENT & CEO
2 Learning Objectives! At the end of this program, participants will be able to:! 1) Participants will be able to observe market trends, including the interest in urban adapted historic spaces, in upstate New York s rust belt cities. 2) Participants will be able to assess the impact of historic tax credits on individual rehab projects as well as on the long term revitalization of rust belt cities. 3) Participants will be able to compare and contrast revitalization strategies in different rust belt cities and assess their potential applicability to the communities in which they work. 4) Participants will be able to observe and communicate the important role that historic preservation plays in the revitalization of rust belt cities.
3 BUFFALO, NY: RUST BELT POSTER CHILD CITY POPULATION, 1950: 580,000 CITY POPULATION, 2010: 261,000 POVERTY LEVEL: 30% (3RD) CHILD-POVERTY LEVEL: 47% (3RD) USPS UNDELIVERABLE ADDRESSES: 20,000 UNEMPLOYMENT RATE: 7.6% UNEMPLOYMENT RATE (AFRICAN-AMERICAN MALES): 54% Notches in the Rust Belt
4 Sources(of( Funding( ((w/o(incen2ves)( Rehab(( Project(Costs( Sources(of( Funding(( (with(incen3ves)( Rehab(( Project(Costs( Hard(costs( Commercial(bank( loan( Hard(costs( Commercial(bank( loan( Developer(equity( So?(costs( Developer(equity( Acquisi2on(and( remedia2on(costs( Economic( development( incen3ves( Acquisi3on(and( remedia3on(costs( Rust Belt Real Estate 101: The Gap
5 NEW INVESTMENT IN OLD NEIGHBORHOODS: (A) RECOGNIZES THEIR CULTURAL IMPORTANCE AND HISTORIC VALUE, (B) LEVERAGES AND REINFORCES LEGACY INFRASTRUCTURE, (C) ENHANCES QUALITY OF LIFE FOR AT-RISK POPULATIONS, (D) MAY BE THE SMARTEST GROWTH OF ALL, OR (E) ALL OF THE ABOVE Rust Belt Neighborhoods and Old Urbanism
6 NEW INVESTMENT IN OLD SCHOOLS IS SMART BECAUSE THEY: (A) OFTEN WERE HISTORIC HUBS OF THEIR NEIGHBORHOODS, (B) GENERALLY WERE SOUNDLY CONSTRUCTED AND WELL-MAINTAINED, (C) TYPICALLY FEATURE DESIRABLE PHYSICAL AMENITIES, (D) ARE NOT TOO BIG OR TOO SMALL FOR ECONOMIC FEASIBILITY, OR (E) ALL OF THE ABOVE. The Rust Belt Goes Back to School
7 FIVE INITIATIVES TO STRENGTHEN RUST BELT NEIGHBORHOODS (1) ADAPTIVE REUSE OF VACANT AND UNDERUTILIZED SCHOOLS (2) CONTINUED USE OF RENOVATED AND EXPANDED SCHOOLS (3) HISTORIC RESOURCE SURVEYS OF SCHOOL BUILDINGS (4) HIGH SCHOOL TECHNICAL PROGRAMS FOR PRESERVATION TRADES (5) HISTORIC DISTRICTS IN LOW-INCOME NEIGHBORHOODS PHOTO: NY TIMES Back to School: Five Initiatives
8 Former Annunciation School (Buffalo, NY) featured the adaptive reuse of a 1928 Catholic school into 20 market-rate apartments and 10,000 sf of commercial space. This $4 million project was financed with historic tax credits, energy tax credits and private financing. Former Niagara Falls High School (Niagara Falls, NY) featured the adaptive reuse of a 1924 high school into an arts and cultural center with artist studio spaces and exhibition and gathering spaces. This ongoing project has been financed by state and local grants and private charitable donations. Former St. Ann s Catholic School (Buffalo, NY) this vacant 50,000 square foot school on Buffalo s East Side presents an excellent opportunity for adaptive reuse as a mixed-use complex featuring affordable housing. Possible capital sources include historic tax credits and low-income housing tax credits. PHOTO: VIEWS OF BUFFALO Back to School: Adaptive Reuse
9 Between , over $1.3 billion was invested to renovate and expand existing Buffalo Public Schools PHOTOS: BUFFALO PUBLIC SCHOOLS Back to School: Continued Use
10 HISTORIC RESOURCE SURVEYS ARE VALUABLE BECAUSE THEY: (A) CATALOGUE PROPERTIES CONTRIBUTING TO COMMUNITY CHARACTER, (B) INCREASE AWARENESS OF A COMMUNITY S HISTORIC ASSETS, (C) HELP ORGANIZE RESTORATION AND REHABILITATION EFFORTS, (D) ESTABLISH ALLOCATION PRIORITIES FOR FINANCIAL RESOURCES, OR (E) ALL OF THE ABOVE PHOTO: FIX BUFFALO Back to School: Historic Resource Surveys
11 Buffalo Public Schools offer Career and Technical Education across 25 fields, from Aquatic Ecology to Welding, but no Preservation Trades... Michigan Historic Preservation Network and National Park Service s NCPTT: Introducing Preservation Trades to High School Students (2008) PHOTOS: MICHIGAN HISTORIC PRESERVATION NETWORK Back to School: Technical Education
12 BENEFITS OF HISTORIC DISTRICTS INCLUDE: (A) HIGHER PROPERTY VALUES AND APPRECIATION RATES (EQUITY), (B) MORE STABLE REAL ESTATE MARKET AND NEIGHBORHOOD, (C) BETTER ACCESS TO FINANCIAL BENEFITS FOR IMPROVEMENTS, (D) INCREASED CIVIC PRIDE AND COMMUNITY ENGAGEMENT, OR (E) ALL OF THE ABOVE PHOTO: MICHAEL J. PUMA Back to School: Historic Districts
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