Own a piece of Dallas history! Former Ms. Baird’s bread factory now available for sale! The iconic two story, 43,730 square foot building was built in 1922 and features 14-foot ceilings, large warehouse expansive windows, concrete flooring, and all the other warehouse charm. The property sits on over an acre in prime infill location at the NW corner of Bryan and Carroll in Old East Dallas. There are multiple exit strategies on the property to take advantage of. Mainly, the building is on the National Register of Historic Places and therefore an approved historical tax credit building. Under the Texas Historic Preservation Tax Credit Program, you can receive a 45% rebate on renovation dollars spent on remodeling the building for either industrial lofts for urban living or for either owner/user office space or investment. Or lastly, you could tear the building down and start fresh with new construction.
Texas Historic Preservation Tax Credit Program
Great Infill Location
Potential Development Play
The Texas Historic Preservation Tax Credit Program was established through Texas House Bill 500 during the 83rd Texas Legislative Session and went into effect on January 1, 2015. The new state historic tax credit is worth 25 percent of eligible rehabilitation costs and is available for buildings listed in the National Register of Historic Places, as well as Recorded Texas Historic Landmarks and Texas State Antiquities Landmarks. The program is administered jointly by the Texas Historical Commission (THC) in cooperation with the Texas Comptroller of Public Accounts. Administrative rules for implementation of the program are found in the Texas Administrative Code, Title 13, Part II, Chapter 13.
The Federal Historic Preservation Tax Incentive Program also offers a 20 percent tax credit for the rehabilitation of historic buildings. Established in 1976, the federal historic tax credit program is also a significant financial incentive for the reuse of historic buildings and revitalization of historic downtowns. Applicants are encouraged to take advantage of both financial incentives when possible and apply to both programs together.