From a story in the Burlington Times News we get a little background on the planned conversion of Old Gibsonville Elementary to apartments :
Richard Angino, owner and managing member of Third Wave Housing in Winston-Salem, said there will be a lot of paperwork to get through before there will be anything but cleanup in the empty school.
Most important will be the nine-month process of getting the building listed in the National Register of Historic Places.
That makes the building eligible for 20 percent state and 20 percent federal tax credits, according to Preservation North Carolina, the private nonprofit statewide historic preservation organization helping to put this project together…
The old school at 500 Church St. is one of the oldest buildings in Gibsonville and occupies a spot right in the middle of town. Almost everyone who grew up there has a personal connection.
Guilford County Schools used the 40,386-square-foot building from 1923 until a new school came online in 2006. It has been empty since, and falling apart.
The old and new schools are side by side, so the school system wanted something done…
Angino said his rough estimate for the cost of project is $3 million to $4 million.