Thinking about buying or rehabbing a property in Downtown Holly Springs? You have more support than you might expect. The town actively invests in its core with targeted grants, and you can often combine local help with county, state, and federal programs to improve your numbers. In this guide, you’ll learn what is available, how to qualify, and how to stack incentives with a clean, step‑by‑step plan. Let’s dive in.
Meet the Downtown Development Investment Grant
The Town of Holly Springs runs the Downtown Development Investment Grant, or DIG, to help projects inside the Downtown Village District. The program can assist with public infrastructure costs, certain development fee reductions, and tenant upfit support for qualifying leases. The policy was updated in 2024, and applications are available for new construction, renovation, and tenant leasing in both English and Spanish. You can review program details and applications on the town’s DIG page at the Downtown Development Investment Grants resource.
What projects can qualify
Location matters first. Your property must sit inside the Downtown Village District, which you can verify on the town’s maps and interactive zoning. Typical eligible items include public infrastructure tied to your project, possible fee reductions or reimbursements, and tenant fit‑out assistance for qualifying leases. Awards are made case by case after staff review, and some require Town Council approval.
A recent example in Holly Springs
The town has been using DIG in real projects, not just on paper. Local reporting shows a $25,000 award tied to a historic house redevelopment in December 2024, including infrastructure costs such as utility work. You can read the summary of that approval in this local project update.
How much funding is possible
The town does not post a fixed, universal award table on the DIG page. Recent local reporting has cited updated caps, including up to $100,000 for new construction or renovation and up to $15,000 for tenant improvements. Treat these figures as directional and confirm current amounts and conditions with town staff or the official policy. For the reporting context, see this council recap on updated DIG limits.
How to apply in Holly Springs
Start with a pre‑application conversation. Town Economic Development staff can confirm district eligibility, guide you to the right application type, and review your scope, pro forma, and timeline. Because awards are often reimbursable and performance‑based, plan for documentation and milestones. You can begin on the Downtown Development Investment Grants page.
Quick checklist
- Confirm your parcel is inside the Downtown Village District on the town maps.
- Request a pre‑application meeting with Economic Development to discuss eligibility, documentation, and timing.
- Prepare a concise scope, budget, and schedule, including any public infrastructure needs.
- Ask about recent precedents and typical conditions for similar projects.
Layer local grants with county and state tools
For larger projects, it often pays to coordinate beyond the town. Wake County can participate on qualifying projects that meet investment and job thresholds, and staff help align local participation with state programs. See the county’s overview of Wake County incentives to understand how coordination works.
North Carolina’s Department of Commerce also runs competitive programs that fund downtown public improvements and building rehabs through local governments. These can support sidewalks, streetscapes, utility work, and more, especially when paired with private investment. Review the state’s summary of recent awards in the Rural Transformation grants press release.
For sizable employers or targeted industries, performance‑based tools like the Job Development Investment Grant may apply. JDIG typically requires significant job creation and capital investment. Learn more about eligibility on the EDPNC JDIG page.
Use historic rehabilitation tax credits
If your project involves a certified historic structure used for income‑producing purposes, federal and state historic tax credits can be powerful. The federal program offers a 20 percent income tax credit and requires a three‑part application through the State Historic Preservation Office and the National Park Service. Start with the NPS historic tax incentives overview and the NC HPO rehabilitation tax credits guide. These credits often layer well with local grants when planned early.
Consider Opportunity Zone benefits
Some Wake County tracts carry Opportunity Zone status, which can offer tax timing benefits when you reinvest capital gains through a Qualified Opportunity Fund. Downtown parcels may or may not fall inside an OZ, so confirm by checking the HUD Opportunity Zone map. OZ treatment can complement, but not replace, local and state incentives.
Timelines and common pitfalls
Timelines vary by project size. Smaller tenant grants or fee adjustments can move faster, while construction or infrastructure awards often require Council action and may take several months. Common pitfalls include assuming your parcel is eligible without checking the map, underestimating documentation for reimbursement, and misaligning your schedule with state grant cycles. Build buffer time into your plan and get confirmations in writing.
Next steps for Holly Springs investors
- Verify your address is inside the Downtown Village District on the town map.
- Meet with Economic Development to review DIG eligibility, applications, and timelines.
- If your building may be historic, contact the NC SHPO early to assess credit eligibility and timing.
- Review recent town approvals for practical guidance on conditions and documentation.
- For larger projects with jobs or major investment, coordinate early with Wake County and EDPNC.
If you’re weighing a downtown purchase or rehab in Holly Springs, you don’t have to navigate this alone. Our team understands how to position a property and timeline to align with local process and potential incentives. If you want a straight, practical take on feasibility and next steps, reach out to Alluvium Elite Realty.
FAQs
What is the Downtown Development Investment Grant in Holly Springs?
- It is a town program that can support downtown projects with infrastructure help, possible fee reductions, and tenant upfit assistance inside the Downtown Village District.
How do I confirm my property is in the Downtown Village District?
- Check your parcel using the town’s maps and interactive zoning before applying for any downtown grant.
Will the town cover tenant upfit costs for my lease?
- The DIG program includes a tenant leasing application option that can assist with qualifying tenant fit‑outs on a case‑by‑case basis.
Are there fixed dollar caps for Holly Springs grants?
- The town does not publish a single award table; local reporting has cited updated caps, so you should confirm current amounts with staff for your specific project.
Can I combine town grants with historic tax credits?
- Yes, many projects layer local grants with federal and state historic rehab tax credits, but you must follow the SHPO and NPS application steps and time your approvals.
How long does it take to get a decision on a DIG application?
- Smaller tenant or fee items may resolve in weeks, while larger awards tied to construction or infrastructure often require Council action and take several months.
What other incentives might apply beyond the town program?
- Depending on size and jobs, Wake County participation and state tools like JDIG or Rural Transformation grants may come into play, typically with added documentation and performance requirements.
