Foss & Company Provides Tax Equity for Revitalization of Historic Winston-Salem Building
Foss & Company has closed an investment in The Loewy, a historic redevelopment project transforming a former RJ Reynolds-era department store into a mixed-income residential and commercial space. Located in downtown Winston-Salem, NC, the building will be redeveloped by High Tide Capital into a 54-unit residential community with ground-floor retail and amenities such as fitness centers and storage spaces. The project is expected to generate $3.4 million in Federal Historic Tax Credits and $3.1 million in North Carolina State Historic Tax Credits, underscoring the role of tax equity financing in historic preservation efforts. Foss & Company has a long history of deploying over $11 billion into similar projects since its founding in 1983. High Tide Capital specializes in adaptive reuse and currently manages a portfolio of more than $100 million across 17 redevelopment projects, focusing on revitalizing urban cores with affordable housing while preserving architectural heritage.
Topics: Historic Tax Credits Residential Housing Urban Development