The Subway Terminal Building in Los Angeles, California, was constructed in 1926 as a joint venture between the Pacific Electric Railway and the Subway Terminal Corporation. It is twelve stories high with two subterranean levels for the streetcar terminal. The lower floors contained passenger services while the five, twelve-story towers were used for offices. The building was listed in the National Register of Historic Places in 2006 for its association with the Pacific Electric Railway and its significance as a local example of commercial architecture in the Italian Renaissance style. The recent rehabilitation, which took advantage of Federal Historic Preservation tax credits, involved the construction of an adjacent parking garage, exterior repairs including masonry cleaning, storefront rehabilitation, exterior lighting, window repair, seismic retrofit, interior changes to accommodate new apartment and office use, and rehabilitation of the lobby space and historic corridors. Now called the Metro 17, the building won a 2006 Preservation Award from the Los Angeles Conservancy for its role in the revitalization of downtown L.A. The estimated rehabilitation costs for this project were $55,175,744.
The Historic Preservation Certification review process is in three parts: Part 1 determines the eligibility of the property for the tax credit program; Part 2 determines consistency of the project’s plans and specifications with the Secretary of the Interior’s Standards for Rehabilitation; Part 3 determines whether the finished project complies with the Secretary’s Standards. In November (the latest month complete statistics are available) Technical Preservation Services staff reviewed: 81 Part 1 reviews, 66 Part 2 reviews representing nearly $195 million in estimated preservation investment dollars, and 48 Part 3 reviews which resulted in $275 million invested in preservation approved to use the Federal Tax Credit. For more information about the Federal Tax Credit Program go to their website.