Project Facts

Total project cost:
$20 million

Sources of Funds:
Insurance Proceeds; $6.5 million state & federal Historic Tax Credit Proceeds

Date Completed:
2013

Size:
35,500 ft²

Use:
Church & Retail/Office > Church/Community & Event Center

Developer(s):
First United Church of Burlington

Owner:
Riverside Technology NonProfit

Year Built:
1889 & 1904

Location:
421 Washington St, Burlington, IA 52601

The beautiful First United Methodist Church in Burlington, Iowa, was tragically damaged by arson in 2007. The severity of damage necessitated almost complete restoration of the sanctuary and supporting structures. As part of the project the Church also renovated an historic building adjacent to the sanctuary, namely the Stoermer’s Building. The combined project totaled to approximately $20 million at completion. While the Church raised significant funds to complete the restoration, prior to BW&A’s involvement, the organization had a substantial shortfall to complete rehabilitation of both facilities. BW&A was able to secure over $3 million of Federal Historic Tax Credit Equity for the Church, thereby enabling debt-free completion of the renovation. In addition, BW&A assisted the Church to secure bridge financing that was necessary to get to the end of construction and realize the Historic Tax Credit Equity. After more than 5 years of construction, the project was finally completed in December of 2013.