The Landscape of Urban Preservation: An Analysis of Historic Rehabilitation Tax Incentives in Richmond, Virginia

Rehabilitation tax credits (RTCs) are widely heralded as one of the nation’s most successful preservation and urban revitalization programs, but minimal research exists on their use at the local level. This paper analyzes the use of historic rehabilitation tax credits in Richmond, Virginia, a strategically selected, medium-sized American city. Using address-level geocoded data on tax credit projects, Census data, walkscores, and media accounts, the paper examines the spatial distribution of RTCs across the City of Richmond, assesses their level of concentration and/or dispersion, documents changes in Richmond’s RTC geography over time, and characterizes various types of RTC neighborhoods. The paper advances scholarship in historic preservation and revitalization and provides a foundation for future research on the urban impacts of rehabilitation tax credits.