Financial Incentives For Heritage Conservation
Turner Drake & Partners Ltd. and DSRA Architecture on behalf of Halifax Regional Municipality
This year’s winning project examined the physical and economic factors influencing investment in heritage property, and suggested financial incentives the municipality could implement in two proposed heritage districts to support conservation not as a policy problem, but one of real estate economics. The physical difficulties associated with conservation (more costly maintenance, specialised trades and expertise) are generally well understood, and incentive programs to date have been scaled and structured around these difficulties. However, heritage conservation also affects how the properties behave as a capital asset, and this facet is less understood locally.