The Georgia Trust

2011 PRESERVATION AWARDS: EXCELLENCE IN REHABILITATION

Wynne-Claughton Building (Carnegie Building)
Atlanta, Fulton County

The History
The Carnegie Building, built in 1925, is a “flat iron” shaped office building that was originally known as the Wynne-Claughton Building, but was renamed the Mortgage Guarantee Building after it was purchased by the Mortgage Guarantee Insurance Company in 1928. In 1963 the name was changed to the Carnegie Building to commemorate the former Carnegie Library, which once stood across the street. This twelve-story, early skyscraper was designed like a column with a base, shaft and capital.

The Project
In 2007, planning began to convert the building from its original use as office space into a hotel. The floor plans were carefully designed to showcase the surviving historic elements. Rehabilitation began in 2008 and resulted in the 155-room Hotel Indigo. The rehabilitation allowed the owner to receive the State of Georgia 25% Rehabilitation Investment Tax Credit (RITC) and Preferential Tax Assessment Freeze, as well as the Federal 20% RITC. These credits along with other tax incentives provided $2.9 million in equity for the owner.

 


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