The Addison Times, May 29, 2021 “It’s like day and night,” construction manager Bill Rasner said while surveying renovations at Old Shelby High apartments earlier this year. The project, an initiative of complex owner Purple Vetch Properties, LLC, was the first significant infrastructure upgrade since at least the early 1990s, when the building transitioned into [...]
Brownfield Coalition of the Northeast, April 15, 2021 By Steve Dwyer How does a young brownfield industry practitioner climb so far up to the mountaintop -- and do it so quickly? At 33 years old, Melina Ambrosino, Executive Vice President of Newton, Mass.-based Cherrytree Group LLC, will let you in on a little secret: be [...]
Business Wire, March 11, 2021 BOSTON-The Cherrytree Group — a tax credit consulting and syndication firm based near Boston — announced a significant milestone by surpassing the $100 million mark in tax credits obtained and placed on behalf of real estate developers and investors nationally. Since its founding in 2011, the company has specialized in [...]
Tax planning options are varied and complex — almost as if they were designed with some sort of mischievous intent. The Internal Revenue Code is a labyrinth of hard-to-decipher regulations intended to minimize tax sheltering and avoidance. Books could be written about the complexities — if it weren’t that those books would be out of [...]
This was a year that challenged us in ways we never could have imagined. At Cherrytree we’re hardly alone in that assessment, yet all of us feel fortunate to have remained healthy and productive throughout a year that will be fondly remembered by…almost no one. Here’s how 2020 played out for us: In order to [...]
As we all work quickly through our business day, there’s a tendency to use shorthand to describe various financial instruments, initiatives and strategies. We all do it. But sometimes the meanings can become lost. In recent interactions with our clients, I have noticed some confusion between the phrases: “tax credit investment,” “working capital needs” and [...]
At the Cherrytree Group, we understand tax credits are a bit of a “dense” topic. And we also understand that many real estate developers and investors don't always know where to begin to find out if they might be a candidate to take advantage of the various Federal and state tax credit programs. That’s why [...]
A Solar Investment Tax Credit allows investors to deduct 26% of installation costs from federal taxes, which applies to all residential and commercial systems. Cherrytree worked with the renewable energy developer MSL Group to successfully complete multiple projects across Connecticut. Together, these projects will realize over $2.75 million in tax credits and $8 million in [...]
PIER 4 located at 300 Pier 4 Blvd, Boston, MA 02210. Developer: Tishman Speyer. Working in an older city such as Boston creates complex challenges for the developer which took advantage of the Commonwealth of Massachusetts’ Brownfields tax credit program to make this office building a reality. (Photo credit: flauntboston.com) Cherrytree Group has successfully [...]
Creative financial planning breathes fresh life into historic districts in two Massachusetts towns. Several abandoned buildings located within historic districts in Millers Falls and Turners Falls were preserved by the projects, undertaken by Pioneer Valley Redevelopers and Obear Construction Company. In all, 12 affordable housing units were created, along with two residential units, three offices, [...]
