In a testament to the success of the Main Street Concept, downtown Greenville has witnessed a remarkable transformation, with over $7 million reinvested in building restoration since its designation as a Texas Main Street City in 1999.
The Texas Historical Commission bestowed this prestigious title upon Greenville, kickstarting a journey of economic development and historic preservation. The town's commitment to this initiative earned it recognition as a 2002 National Main Street City by the National Trust for Historic Preservation, joining an elite group of only 100 cities nationwide.
The Main Street Project, a brainchild of the National Trust, seamlessly integrates historic preservation with economic development, offering a blueprint for downtown revitalization. With over 1400 communities in 42 states participating in this project, it has proven to be a nationwide catalyst for positive change.
At the core of the Main Street Concept lies a focus on the rehabilitation of existing structures, leveraging their unique character. This approach not only preserves the historical essence of the buildings but also serves as a catalyst for the downtown area's overall image.
To encourage area merchants and building owners to reinvest in downtown, the Main Street Board, in collaboration with local banks, has established a low-interest loan pool for improvements to downtown buildings. This financial support system empowers local businesses to make significant upgrades, fostering a vibrant and competitive downtown atmosphere.
Furthermore, the Main Street Concept offers a compelling incentive for substantial improvements exceeding $25,000. Eligible projects may qualify for up to a 7-year tax abatement on the cost of improvements, incentivizing property owners to make impactful investments in the heart of Greenville.
