ATLANTA, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, proudly announces the reopening of the historic Louis Sullivan Building in Newark, Ohio.
Originally built in 1914 and opened in 1915 as The Home Building Association Company—affectionately known as “The Old Home”—this architectural treasure was designed by Louis H. Sullivan, America’s first modern architect and the “father of the skyscraper.” One of only eight of Sullivan’s iconic “jewel box” banks built across the Midwest, the Newark building stands as a testament to his visionary design, blending ornate detail with human-scale proportion.
After more than a century and several iterations as a financial institution, butcher shop, jewelry store, and ice cream parlor, the building has been meticulously restored and reimagined for the next 100 years. The rehabilitation preserves its intricate artistry while transforming it into a vibrant new home for Explore Licking County, serving as a welcome center and gathering place that celebrates both the community’s story and Sullivan’s enduring genius.
As a result of investment by the Monarch Historic Preservation Fund III, the project will generate approximately $2.2 million in 5-Year Federal Historic Tax Credits and $1.2 million in 1-Year Ohio Historic Tax Credits beginning in 2025. Beyond these economic benefits, the restoration strengthens Newark’s architectural heritage and advances local revitalization efforts.
“The impact of Monarch’s investment will continue to be felt in our community long into the future,” said Dan Moder, Executive Director of Explore Licking County. “As the Sullivan Welcome Center, this historic building is a beacon for generations of visitors and residents alike—a place where history, design, and innovation converge.”
“The Licking County Foundation is deeply grateful for the partnership with Monarch,” said Connie Hawk, Strategic Initiatives Director and former President of the Licking County Foundation, who has led the project since its inception in 2014. “These historic tax credits were vital to restoring this architectural masterpiece and returning it to public use for all to enjoy.”
“The Louis Sullivan Building is not just a historic structure—it’s a catalyst for economic growth and a point of pride for the community,” said Rick Chukas, Partner and Managing Director of Historic Tax Credits at Monarch Private Capital. “We’re honored to have played a part in ensuring it continues to inspire for decades to come.”
The Louis Sullivan Building was added to the National Register of Historic Places in 1973 and was generously gifted to the Licking County Foundation in 2013 by Newark native Stephen Jones. Since then, a dedicated team of professionals and volunteers—known as Team Sullivan—has worked to bring the vision to life: restoring the building’s beauty while ensuring its sustainability for generations ahead.
For more information about Monarch Private Capital, visit www.monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital manages impact investment funds that strengthen communities by creating clean power, affordable housing, and jobs. Its funds provide predictable returns through federal and state tax credits in affordable housing, historic rehabilitation, renewable energy, and film. Headquartered in Atlanta, Monarch maintains offices and professionals across the United States, partnering with institutional and individual investors, developers, and lenders to advance sustainable economic growth.
CONTACT
Jane Rafeedie
Monarch Private Capital
470-283-8431
