EDR assisted Regan Development Corporation with the preparation of the Part 1 Historic Rehabilitation Tax Credit Application and State/National Register of Historic Places nomination for the Lion Factory in the Lansingburgh neighborhood of Troy, New York. Listing the building on the State/National Register of Historic Places was required in order for the project owner to access state and federal historic rehabilitation tax credits.
With historic rehabilitation tax credits contributing to the project financing, Regan Development Corporation transformed the monumental, six-story former shirt and collar manufacturing building into 151 apartments, most of which are affordable for households earning up to 60% of Area Median Income. In addition, 25 units are reserved as supportive housing.