BOSTON--(BUSINESS WIRE)--The restoration of an aging structure in the Auburndale village of Newton has been honored by the advocacy group Preservation Massachusetts. The rehabilitation of the building on Auburn Street, known as The Miller Block, is one of the winners of the organization’s People’s Preservation Choice Award for 2019.
The restoration project was undertaken by the Cherrytree Group, LLC, a tax credit advisory firm which purchased the property in 2017 for use as its own offices as well as for other businesses. The historic designation of the building, as well as the authentic restoration, made the property eligible for tax credit incentives from the state and federal governments—which happens to also be the focus of the company’s services that it offers to real estate developers and investors nationwide.
“Our entire team is both honored by this award and proud to call The Miller Block our home. We’re now an award-winning example of how Federal and state tax credits can benefit businesses and communities,” said Warren Kirshenbaum, president of Cherrytree Group.
The centerpiece of Miller Block is a three-story wooden structure built in 1850. The 4,657-square-foot former dry goods store is one of the last commercial buildings of its kind in Newton.
Almost all the historic buildings in The Miller Block area, which is near the Auburndale Commuter Rail Station, had been lost during and after construction of the Massachusetts Turnpike, which abuts the neighborhood, Kirshenbaum said.
The architect was Barry Ganek of Ganek Architects of Carlisle. General contractor was C2MG Builders of Topsfield and systems contractor was Total Temperature Control of Wakefield. Maynard historic consultancy firm Epsilon Associates assisted the project with its effort to secure Federal and state historic tax credits.
The Cherrytree Group offers tax credit consulting, brokerage and syndication services to developers as well as to individual and institutional investors. Cherrytree applies for, secures and monetizes available Federal and state tax credits. The company focuses primarily on Brownfields tax credits in Massachusetts, New York and Florida, as well as state historic tax credits in Massachusetts, Connecticut, New York, and Virginia, and Federal tax credits for historic preservation, renewable energy and low-income housing nationally.