Historic Savannah Foundation Receives $25,000 Grant
Thursday, March 1st, 2018
Historic Savannah Foundation recently received a $25,000 grant from The 1772 Foundation—a New England-based charitable foundation that works to ensure the safe passage of America’s historic buildings and farmland to future generations. The grant will assist HSF in saving endangered historic buildings in Savannah. HSF’s Revolving Fund—one of the oldest and most successful in the country—is a real estate-based program that helps transform and revitalize neighborhoods through investment in vacant, blighted properties.
The Revolving Fund acquires properties through donation, options, and outright purchase. A property qualifies for the Revolving Fund if it is endangered, has historical significance (listed or eligible for the National Register) and is marketable for resale. The fund then markets the house locally to find a preservation-minded buyer who agrees to rehabilitate and maintain the integrity of the building.
“We are deeply honored by the confidence placed in us by The 1772 Foundation. This grant cycle was extremely competitive with scores of applications from respected peer organizations across the country. The fact that we were successful says a lot about HSF and the work we do. We will use the grant to stem the tide of blight on the MLK corridor alongside the Cuyler-Brownville Historic District,” said Daniel Carey, President & CEO of Historic Savannah Foundation.
HSF launched its Revolving Fund in the early 1960s, validating the power of getting involved in real estate as a core part of its mission. To date, HSF has saved nearly 370 properties. HSF’s Revolving Fund has been active—of late—in the Thomas Square Streetcar Historic District (along Whitaker Street and Price Street); the Victorian District (along E. Bolton Street); and the Landmark Historic District (along E. Broad Street).