Historic Tax Credits
$3.5 Million
Federal HTCs
Historic Tax Credits
$2 Million
State HTCs
Total Project Cost
$23 Million
Impact
Iconic Historic Preservation
History
A Bank in Brooklyn
The domed original headquarters of the Williamsburgh Savings Bank at 175 Broadway was designed by George B. Post and opened to the public in 1875. A renowned New York City architect, Post would later go on to design the New York Stock Exchange and Cornelius Vanderbilt II Mansion, the largest residence in the country when it was constructed.
Located at Broadway and Driggs Avenue in Williamsburg, Brooklyn, this architectural marvel served the banking needs of its community for more than 100 years. The building’s exterior was protected by the New York City Landmarks Preservation Commission in 1966, and it was added to the National Register of Historic Places in 1980.
Revitalization Effort
Modernized for Public Use
Despite its landmark status, the bank was neglected and sat in disrepair over the years. The project’s ultimate goal was to bring the building back to it to its full former glory by meticulously restoring the complete interior and exterior, employing skilled craftsmen and dedicated artisans for the large undertaking. After three years, the restoration was completed and the building reopened as an event venue.
The venue, now known as Weylin, serves as a community hub and hosts a variety of events from weddings and galas to performances, art shows and experiential activations.
NTCIC & Progress
Project Financing
The restoration of the Williamsburgh Savings Bank was supported by NTCIC through an equity investment in the $3.5 million federal Historic Tax Credits and $2 million State Historic Tax Credits generated by the project.
Connect with Us
Curious About How Historic Tax Credit Investments Drive Real Impact?
Kandi Jackson leads tax credit investment activities with deep expertise in project finance, equity structuring, and compliance. When you speak with Kandi, expect clarity, honesty, and a clear roadmap for how your next investment can work in your portfolio.
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