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Real Estate

Adaptive Reuse + §47 Historic Credits

Convert vacant office → apartments; capture 20% historic credit.

Overview

Office-to-residential conversions in downtown cores are subsidized: §47 gives a 20% federal historic rehab credit on qualified expenses for certified historic structures, plus state credits (often another 20%). Combine with opportunity zone + bonus depreciation for a stacked play.

Best fit
Downtown developersHistoric building buyersMultifamily converters
Estimated impact
20–40% of rehab cost as tax credits

Click Generate advisory deep dive for mechanics, IRC citations, a step-by-step execution plan, a worked numeric example on your profile, costs, risks, and this-week actions.

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