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PHILADELPHIA-Heritage Consulting Group opened an office here to expand and develop business along the east coast. The Portland, OR-based company specializes in assisting property owners and investors develop strategies that maximize the value of historic real estate assets through the use of federal tax incentives and other tools.

It focuses on income-producing properties and links developers with corporate and institutional investors that are active in the area of historic tax credits. The company has represented projects totaling more than $1 billion. “Tax credit projects today are increasingly complex in terms of financing,” says John Tess, president of Heritage. “Our experienced professional staff can provide essential, up-to-date advice to developers, investors and lenders during the historic tax credit approval process.”

Cynthia Rose Hamilton, an architectural historian and preservation consultant, will head the Philadelphia office. She has worked on historic tax credit projects in the mid-Atlantic region for 15 years and has been involved in the rehabilitation of many landmarks in the region. Hamilton tells GlobeSt.com that her firm is currently involved in the rehabilitation of Walnut Park Plaza on Walnut St. and Cobbs Creek Parkway. “Philadelphia’s location, nearly centered between the Washington-Baltimore region and New York City, was an important factor in Heritage’s decision to base its east coast operations in Philadelphia.”

The National Park Service reported that more than $30 billion of successful rehabilitation activity has been undertaken in the federal historic tax credit program since its inception with a record-setting $3.2 billion last year alone, according to Tess. He believes the timing of Heritage’s move here will help his firm capture a larger share of the growing historic rehab market.

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