YWCA Building, Former Mill Complex, Horse Blanket Factory and Landmark Hotel Earn Novogradac Awards for Historic Preservation

Novogradac to Honor Four Historic Rehabilitations at October HTC Conference

SAN FRANCISCO, June 1, 2026 /PRNewswire/ -- Four historic properties–a YWCA building, a former mill complex, a former horse blanket factory and a landmark Colorado hotel–have been given new life and are winners of the 2026 Novogradac Journal of Tax Credits Historic Rehabilitation Awards.

The awards are for participants who strive for excellence in historic preservation. The winners for the 2026 Journal of Tax Credits Historic Rehabilitation Awards are:

• YWCA Wheeling, West Virginia, as Historic Tax Credit (HTC) Residential Development that Best Exemplifies Major Community Impact.
• The Lofts at Stehli Silk Mill for HTC Residential Development that Overcame Significant Obstacles.
• Northern Ohio Blanket Mill for HTC Non-Residential Development that Best Exemplifies Major Community Impact.
• Hotel St. Cloud for HTC Non-Residential Development that Overcame Significant Obstacles.

Winners will be honored at the Novogradac 2026 Historic Tax Credit Conference, Oct. 8-9 in St. Louis, Missouri.

"These award-winning projects exemplify the importance of historic rehabilitation and preservation, showcasing the value and versatility of the HTC," said Michael Kressig, a partner in Novogradac's St. Louis office and chair of the conference. "I am honored to recognize these innovative and impactful developments on behalf of Novogradac."

RiseUp LLC facilitated the rehabilitation of the historic YWCA building in Wheeling, West Virginia. Built in 1915 in the East Wheeling Historic District, the property features housing, residential common areas, program spaces, retail and office space. The building was renovated, allowing YWCA to expand programs that offer housing and support for victims of domestic violence and human trafficking, drug and alcohol recovery, homelessness and to promote racial equality. The redevelopment received $2.3 million in federal HTC equity from U.S. Bancorp Impact Finance and $2.9 million in state HTC equity from another investor.

Stehli Mill LLC converted the Stehli Mill complex in Lancaster, Pennsylvania, into an apartment community. The mill was built in 1897 and once employed roughly 2,000 female textile workers. The property was vacant 40 years before the conversion. Now known as The Lofts at Stehli Silk Mill, the property is home to 165 loft-style apartments. Homes come in a mix of studio, one- and two-bedroom floor plans. The Lofts at Stehli Silk Mill received $6.1 million in federal HTC equity from Sherwin-Williams Co. and state HTCs.

The Levin Group Inc. and Metro West Community Development Organization renovated the Northern Ohio Blanket Mill Building. The Northern Ohio Blanket Mill was built as a horse blanket factory between 1889 and 1895. Formerly the largest vacant building in Cleveland's Clark-Fulton neighborhood, the complex was redeveloped into a mixed-use development with 60 affordable apartments and 40,000 square feet of office and commercial space. Financing sources included $2.2 million in federal HTC equity from U.S. Bancorp Impact Finance and $1.9 million in state HTC equity from Foss & Company, as well as state and federal NMTC equity.

Unbridled Holdings III restored the Hotel St. Cloud in Cañon City, Colorado. The hotel was built in 1883 in Silver Cliff, then was disassembled, transported to Cañon City and reassembled in 1887. The development team worked over the course of seven years to restore the building into a 26,000-square-foot property with a 36-room boutique hotel, restaurant, lobby bar and speakeasy. Hotel St. Cloud received $6.1 million in federal HTC equity and $3 million in state HTC equity from Unbridled Holdings III.

Additional details about the award winners and information on how to nominate a development for the 2027 round of awards can be found at www.novoco.com/events/awards.

About Novogradac

Novogradac, which has been in business for 35 years, has grown to more than 850 employees and partners with offices in more than 25 cities. Tax, audit and consulting specialty practice areas for Novogradac include affordable housing, community development, historic rehabilitation and clean energy. For additional information on Novogradac's personnel and areas of expertise, visit www.novoco.com or call (415) 356-8000.

SOURCE Novogradac & Company LLP