Cincinnati's Historic Preservation Projects Slow Down

Tax credit program sees fewer new projects awarded in latest round

Jan. 31, 2026 at 4:15pm

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Greater Cincinnati experienced a slowdown in its historic rehabilitation pipeline at the end of 2025, with just three new projects receiving historic tax credit awards out of 10 total projects awarded. High development costs are cited as a key factor behind the decline in new preservation projects in the region.

Why it matters

Historic preservation has been a driving force behind Cincinnati's urban renaissance for decades, with the Ohio Historic Preservation Tax Credit program fueling the renovation of iconic landmarks like Music Hall. The recent drop in new projects receiving tax credits raises concerns about the sustainability of this preservation-led development model.

The details

In the Ohio Historic Preservation Tax Credit program's most recent round announced in December 2025, just 3 out of the 10 total projects awarded were first-time recipients. The remaining 7 projects were upward adjustments to prior award recipients, indicating a slowdown in the pipeline of new historic rehabilitation projects in the Cincinnati area.

  • The latest round of Ohio Historic Preservation Tax Credit awards was announced in December 2025.

The players

Ohio Historic Preservation Tax Credit program

A state-level tax credit program that has fueled historic preservation and renovation projects in Cincinnati for decades.

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The takeaway

The decline in new historic preservation projects receiving tax credits in Cincinnati raises concerns about the sustainability of this development model, which has been a key driver of the city's urban renaissance. Addressing the high costs that are hampering new preservation efforts will be crucial to maintaining Cincinnati's historic character and continued revitalization.