Older houses also can also be renovated to meet passive-house standards, but such renovations are rare because of the extra-thick walls and high technological requirements that certified passive houses demand.

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However, the charges announced Tuesday stem largely from renovations to Stevens' house, a modest vacation place in Girdwood, Alaska.

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"We had done substantial renovations to the whole house, but the one thing we hadn't done yet was the interior--the painting, floors and all that, " he explains.

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Mr. Baum has made a practice out of this kind of work since 1988, taking one or two 18th-century houses a year that no one wants and deconstructing them, stripping away all the renovations until the original house is revealed.

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Ms. Anderson said Ms. Badger had invited her to the house to see the large-scale renovations.

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Before the work is done, an appraiser will estimate what the house will be worth after all of the renovations are completed, using the estimates contractors have submitted.

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Two years later renovations are under way, and the buildings are expected to house bourbon-themed restaurants and nightlife spots, adding to the success of nearby projects like the mixed-use Whiskey Row Lofts.

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