Hopkins Commercial Historic District
The City of Hopkins, the Hopkins Historical Society and the Metropolitan Council are nominating Downtown Hopkins for listing in the National Register of Historic Places in November 2021.
The Downtown Hopkins area covered by this nomination is between 8th Avenue N and 11th Avenue N.
What does a National Register-listing mean?
The National Register of Historic Places is the official list of historic properties recognized by the federal government as worthy of preservation for their significance in American history, architecture, archaeology, engineering or culture.
Listing in the National Register provides opportunities for tax credits and can help build community pride in its history.
There are many potential benefits to the property owner of a National Register-listed property. A property owner can apply for a 20 percent tax credit on their federal income if they substantially rehabilitate their National Register-listed and income-producing property.
The federal tax credit encourages private investment in the rehabilitation of historic buildings to revitalize properties that have a financing gap between what banks will lend and the total development cost.
Minnesota also has a 20 percent tax credit that is used in conjunction with federal tax credits. That State Historic Preservation Office and National Park Service review the rehabilitation work to ensure that it meets the standards for rehabilitation.
Preservation has been shown to enhance real estate values, foster local business, increase foot traffic and help keep historic main streets economically viable.