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, [...]
A 95-year-old six-story office building in the second largest city in Massachusetts is being converted into commercial space on the lower two levels, with residential units throughout the remainder of the building. The 20,000 square feet has a steel structure with cement floors, elevator, and lime stone facade. Finishes include all mahogany doors and [...]
Within the Tax Cuts and Jobs Act of 2017 1 (the “Tax Reform Legislation”), was a provision that initially did not generate much interest and excitement, but it may be one of the most significant tax reform codifications that we have seen in decades. The Tax Reform Legislation established Opportunity Zones by way of [...]
Over $750,000 in Federal tax credits and $500,000 in state credits were secured for this conversion of a 100-year-old community post office into retail spaces, luxury apartments, as well as continuing as a U.S. Post Office in one part of the building. The project was named by the state of Massachusetts as “the Best [...]
Seven historic renovation projects were undertaken by a private investment fund created and managed by Cherrytree for a client in North Carolina. Cherrytree used tax credit and depreciation strategies to obtain $12 million in savings. Read the case study
by Warren Kirshenbaum The idea of taking on a brownfield site for redevelopment can be intimidating, especially for developers who don't have experience remediating contaminated land. However, the term "brownfield" when describing a property does not need to conjure up the daunting image of a Superfund level cleanup. There is no one "face" of [...]
By Warren A. Kirshenbaum Terms such as “Opportunity Zones” and “Brownfields” do not easily roll off the tongue, but they are our “terms of art” for programs with enormous potential: allowing real estate development and investment professionals to turn challenging building projects into very successful accomplishments. There is some misunderstanding of what both terms [...]
Brand identity is a big part of effectively doing business today. More than ever, customers are interested in what your brand says, what your values are, how you communicate your product and how you want people to feel when they interact with it. When it came time for the Cherrytree Group to find a larger [...]
