Patrick Henry Hotel in Roanoke, VA

Project

Cost-$25.7MM

HTC’s-$4.5MM
State

Credits-$5.6MM

NMTC Allocation-$2.9MM

The once elegant Patrick Henry Hotel has been transformed into a mixed-use project that revitalizes a significant landmark in downtown Roanoke. Built in 1925, the 155,000 square-foot, 10-story hotel was part of the construction boom that swept the city in the decade after World War I. A sentimental favorite in Roanoke, the brick and stone hotel has been rehabilitated into132 apartments with commercial uses on the lower floors. The project followed the standards set forth by the Secretary of the Interior’s Standards for Rehabilitation in order to receive both state and federal historic investment tax credits. The rehabilitation of the Patrick Henry preserved a historic landmark for the Roanoke community. It fulfilled the vision to return a historic structure to its former prominence in the life of the city. A decade ago, Roanoke’s downtown largely was a place where people did business by day and drove home to the suburbs by night. The transformation of the Patrick Henry is a vital piece of the ongoing revival and a growing urban lifestyle in downtown Roanoke.

The Patrick Henry project received a top honor from Virginia Business magazine. The rehabilitation was honored as the Best Historic Rehabilitation of 2011 by the magazine and was featured in its July 2012 issue. Commonwealth Architects is a full service Architecture, Historic Architecture, Interior Design, Planning, Landscape Architecture and 3D Visualization firm. Established in 1999, Commonwealth Architects serves clients throughout the Mid-Atlantic Region.

Plymouth Soundings coordinated all financial activities necessary to obtain the Federal and State HTC’s and the NMTC allocation, provided accounting guidance during construction, conversion to operations and during audits and compliance reporting.

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