historic district question (Raleigh: credit, houses, neighborhood)

[JebediahScooter]

Hi all, we recently received a letter from the Raleigh Historic Districts Commission informing us that there was going to be an attempt to designate our neighborhood (Capitol Heights, the "president streets" bordered by Oakwood Park, the cemetery, St. Augustine's, and Glascock Street) as a National Register Historic District. There is going to be an informational meeting on August 10, but I was wondering if anybody on here was familiar with how this works.

Generally, how long does this process take? Does the designation come pretty easily (success/fail rate?)? In terms of benefits, the 30% tax credit won't really apply to us, as our home has already been renovated. There is a fairly constant stream of rehab/renovation projects going on around here, so obviously it would be a good thing in terms of drawing investors to the area to fix up houses (many have been re-done, but there are still a fair number or rundown houses). Will the designation itself instantly add value to our home or anything like that? Are there any drawbacks?

Any thoughts would be appreciated...looking forward to maybe learning more about our neighborhood's history as this process unfolds.

[MikeJaquish]

Originally Posted by JebediahScooter

Hi all, we recently received a letter from the Raleigh Historic Districts Commission informing us that there was going to be an attempt to designate our neighborhood (Capitol Heights, the "president streets" bordered by Oakwood Park, the cemetery, St. Augustine's, and Glascock Street) as a National Register Historic District. There is going to be an informational meeting on August 10, but I was wondering if anybody on here was familiar with how this works.

Generally, how long does this process take? Does the designation come pretty easily (success/fail rate?)? In terms of benefits, the 30% tax credit won't really apply to us, as our home has already been renovated. There is a fairly constant stream of rehab/renovation projects going on around here, so obviously it would be a good thing in terms of drawing investors to the area to fix up houses (many have been re-done, but there are still a fair number or rundown houses). Will the designation itself instantly add value to our home or anything like that? Are there any drawbacks?

Any thoughts would be appreciated...looking forward to maybe learning more about our neighborhood's history as this process unfolds.

You need to speak with AskMisterBrown, if you can get his attention.

Drawbacks or advantages are subjective. If you get into asking permission and multiple submissions for exterior repairs and updates, you may or may not like that situation.
But Historic Oakwood has certainly benefited.

[North_Raleigh_Guy]

^^ Agreed. AskMisterBrown is the man for this question. He is on point with this topic. Hopefuly he is lurking out there and will see this post soon and respond.

An old post by AskMisterBrown: Historic Renovation Tax Credits

[JebediahScooter]

Thanks Mike and North_Raleigh_Guy!