We met with Eddie Vanston at 209 S. Main St. Eddie restored the Sawyer Grocery store into 14 loft apartments with office space on the street level.
Eddie explained how he was able to partner with Chevron in order to utilize the Federal Historic Tax Credit program available through the US Park Service for the restoration for this project. In order to qualify the building had to be at least 50 years old with an architectural or historic significance. The FHTC allows for a 20% tax credit to be taken by the projects investors.
Eddie also explained that he has close to 100% occupancy for his project. Due in part to the reasonable rental rates in the area as compared to the 7th street development to the west of downtown.
One thing that we notice inside the building is how cool it is. Eddie explains that when the building was built it was before air conditioning was so prominent and due to the fireproof construction and the natural ventilation in the building it stays cool year round.