FOSS & COMPANY ANNOUNCES HISTORIC TAX CREDIT INVESTMENT IN OVAL WOOD DISH FACTORY ADAPTIVE REUSE PROJECT

Rehabilitation of 1917 Adirondack Industrial Complex to Deliver 80 Affordable Apartments and Commercial Development

SAN FRANCISCO, Aug. 18, 2026 /PRNewswire/ -- Foss & Company, an established tax equity syndicator, today announced its Federal and New York State Historic Tax Credit investments in the Oval Wood Dish Factory, a landmark adaptive reuse project located in Tupper Lake, NY, in the heart of the Adirondack region.

The Adirondack region and North Country have long faced a shortage of quality affordable housing, where limited new construction and seasonal market pressures leave working families and year-round residents with few options. The Oval Wood Dish Factory addresses that need directly: 80 affordable workforce apartments paired with commercial space that brings jobs and economic activity back to a community that has watched this building sit vacant for years. For Foss and Company, that combination of housing impact, historic preservation, and economic revitalization is precisely what historic tax credit investment is built to achieve.

Foss & Company serves as the investor for approximately $8.0 million in 2027 Federal Historic Tax Credits and $4.95 million in 2027 New York State Historic Tax Credits generated by the project.

The development will rehabilitate Building #1 of the former Oval Wood Dish Factory, a multi-building industrial complex originally constructed in 1917–1918, into a vibrant mixed-use destination. The completed project will feature 80 affordable and workforce apartment units, approximately 20,000 square feet of brewery space, co-working space, storage units, and additional commercial space, bringing new life to a long-vacant piece of Adirondack industrial heritage.

The project is sponsored by a joint venture among Housing Visions, Braxton Capital, and Lahinch Group, with construction led by Housing Visions Construction Co. Additional project financing includes approximately $16.8 million in soft debt and $23.8 million in New York State Low-Income Housing Tax Credits provided by New York State Homes and Community Renewal (NYS HCR) and Empire State Development Corporation.

"The Oval Wood Dish Factory is exactly the kind of project that demonstrates the transformative power of historic tax credits," said John Sorel, Acquisitions, Foss & Company. "By preserving a piece of Tupper Lake's industrial history while creating affordable housing and new commercial opportunities, this development will have a lasting impact on the Adirondack community for generations to come."

"Oval Wood Dish is a dynamic rehabilitation that preserves and celebrates the history of Tupper Lake.  The development is an example of a public-private partnership that revitalizes a prominent and longtime vacant building and addresses unmet needs in the Adirondack community," said Ben Lockwood, President, Housing Visions.

"What began nearly seven years ago, the Oval Wood Dish project has evolved into one of the most significant and impactful development initiatives in the Tri-Lakes region of the Adirondack Park," said Joseph Gehm, Managing Member, Lahinch Group, LLC. "Our longstanding partnership with Foss & Company has been instrumental in driving more than $100 million in development across Upstate New York. We are proud of what we've accomplished together and look forward to continuing our collaboration on transformative projects throughout the state."

This transaction deepens Foss & Company's ongoing relationships with Housing Visions, Braxton Capital, Lahinch Group, and New York State, continuing a productive track record of collaboration on complex, community-centered historic rehabilitation projects.

ABOUT FOSS & COMPANY

Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that, since its inception, has deployed over $11 billion in tax equity on behalf of insurance, banking, and other large corporate clients into historic rehabilitation projects, renewable energy, and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise in helping its partners navigate the world of tax equity investments. For more information about Foss & Company, please visit www.FossandCo.com.

ABOUT HOUSING VISIONS

Housing Visions is a Syracuse-based nonprofit developer, contractor, and property manager with nearly 30 years of experience revitalizing communities across Upstate New York and Pennsylvania. Specializing in complex financing structures and adaptive reuse, the organization has successfully developed and rehabilitated hundreds of properties, including historic buildings, urban infill, and affordable workforce housing, across diverse neighborhoods and populations. Housing Visions now manages over 2,000 units and continues to serve as a catalyst for lasting neighborhood change.

This press release contains forward-looking statements based on current expectations and projections, subject to risks including changes in tax law, construction/completion risks, energy production variability, and market conditions that could cause actual results to differ materially. Foss & Company undertakes no obligation to update these statements.s

SOURCE Foss & Company