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ARTICLE · 25 JANUARY 2016

Developer Proposes Building Rehab, Tax Incentive

Fox Rothschild LLP
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Mary T. Nicolau was featured in the JournalOnline article, "Developer Proposes Building Rehab, Tax Incentive" Full text can be found in the January 18, 2016, issue, but a synopsis is below.

United StatesReal Estate and Construction
Journal Online
Journal Online
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Mary T. Nicolau was featured in the JournalOnline article, "Developer Proposes Building Rehab, Tax Incentive" Full text can be found in the January 18, 2016, issue, but a synopsis is below.

Birchwood Building, LLC, has rehabilitation plans for an office building located at 1645 Birchwood Ave. and is seeking a Class 7A tax incentive from the city council.

According to Fox Rothschild's Mary Nicolau, the two-story building that is 37-years-old and occupies 30,000 sq. ft., has been vacant for the past 24 months and "is experiencing both functional and economic obsolescence."

The company is planning to lease 20,000 sq. ft. of the property to Advanced Security Solutions, which will cost Birchwood Buildings $312,240 for renovations and an additional $120,000 to restore the remaining area of the property.

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