Alabama has a multitude of historic properties that have been worthy of preservation throughout the years, particularly in Birmingham. From the Pizitz to the Empire and the Florentine, the city is filled with buildings that have seen some of the most pivotal moments throughout its rich history. Yet, throughout the decades, these structures have been faced with braving the test of time. Luckily, The Alabama Historic Rehabilitation Tax Credit exists. This program is a 25% refundable tax credit for both commercial property owners and private homeowners who significantly restore and/or rehabilitate properties that are eligible for the National Register of Historic Places and are 60 years old or older. Let’s take a look at some of the buildings that have been saved by this incentive program.
The Pizitz
Once the former department store building for the Pizitz, this historic building was on the brink of ruin before it was purchased for potential restoration by Bayer Properties. After the company received a certification for official historic rehabilitation, the multi-million dollar project was delayed many times over several years due to issues with tenants. However, in 2016 the new Pizitz officially opened downtown. It is now home to the Pizitz Food Hall on the ground floor, as well as several office spaces.
The Redmont Hotel
In the early to mid 1900s, the Redmont Hotel was the spot to be for prominent Alabamians. It also was often visited by celebrities and politicians alike. However, after the hotel’s peak years, it took a downward turn and quickly dilapidated. After many failed renovation attempts, the Redmont underwent a $20 million upgrade project in 2014, financed in part with Alabama Historic Rehabilitation Tax Credits and additionally supported by $400,000 in tax incentives from the City of Birmingham. The fully remodeled hotel officially opened in 2016.
The Elyton Hotel
Originally the historic Empire Building, the fully remodeled Elyton Hotel opened in the summer of 2017 in downtown Birmingham. This building has the honor of holding down one of the four corners on what was once promotionally known as the Heaviest Corner on Earth. This luxury hotel offers visitors the opportunity to experience a full-service restaurant, The Yard, at ground level and a tapas bar, Moon Shine on the roof terrace.
The Florentine Building
The Florentine Building is a beautifully ornate, two-story, terra cotta building located on the former site of the Jefferson County Bank Building. The Italianate style features cream and gold arches highlighted by intricate designs in the facade’s material. It was originally built between 1925 and 1927. Minor renovations were completed throughout the years, but the building underwent a $2.5 million renovation in 2014. The Florentine is now an event venue, complete with a ballroom and a cafe for those wishing to rent out the historic space for special events.
The Alabama Historic Rehabilitation Tax Credit has brought substantial opportunity to Alabama, especially the city of Birmingham. From bringing jobs to the community and revitalizing some of the city's most important, historic structures, to increasing the overall tax base, The Alabama Historic Rehabilitation Tax Credit is uniquely positioned to greatly benefit Birmingham, saving the city one historic building at a time.
References
Alabama Historical Commission. (n.d.). Alabama tax incentives for historic properties. Retrieved from https://ahc.alabama.gov/alabamarehabtaxcredits.aspx
Bham Wiki. (n.d.). Elyton Hotel. Bham Wiki. Retrieved from https://www.bhamwiki.com/w/Elyton_Hotel
Bham Wiki. (n.d.). Pizitz Building. Bham Wiki. Retrieved from http://www.bhamwiki.com/w/Pizitz_building
Bham Wiki. (n.d.). Redmont Hotel. Bham Wiki. Retrieved from https://www.bhamwiki.com/w/Redmont_Hotel
Bham Wiki. (n.d.). The Florentine Building. Bham Wiki. Retrieved from https://www.bhamwiki.com/w/Florentine_Building
Watson, N. (2020, May 14). 7 times historic tax credits have helped preserve Birmingham’s skyline. Bham Now. Retrieved from https://bhamnow.com/2020/05/14/_-times-historic-tax-credits-have-preserved-birminghams-skyline/