UNITED STATES
               	SECURITIES AND EXCHANGE COMMISSION
                    	Washington, DC  20549

                             	FORM 10-Q

[X] Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities 
Exchange Act of 1934 For the quarter ended    June 30,  1998              	
			or
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities 
Exchange Act of 1934

For the transition period from        to              

Commission File Number 33-31778                             

Historic Preservation Properties 1990 L.P. Tax Credit Fund
(Exact name of registrant as specified in its charter)

      Delaware                 				   04-3066191   
(State or other jurisdiction			     	(I.R.S. Employer
    of incorporation or               Identification No.)
      organization)

45 Broad Street, 3rd Floor, Boston, Massachusetts        02109
(Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code (617) 338-6900

Previous Address:  Batterymarch Park II, Quincy, MA  02169
                               
Indicate by check mark whether the Registrant (1) has filed all reports 
required to be filed by Section 13 or 15 (d) of the Securities Exchange 
Act of 1934 during the preceding 12 months (or for such shorter period 
that the  Registrant was required to file such reports), and (2) has 
been subject to such filing requirements for the past 90 days.
								
	Yes  X       No     


        	HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                                	FORM 10-Q

                              	JUNE 30, 1998

                            	TABLE OF CONTENTS

									
                                                                   Page


PART  I  -  FINANCIAL INFORMATION	

            Financial Statements

              Consolidated Balance Sheets                             3    	

              Consolidated Statements of Operations                   4

              Consolidated Statements of Partners' Equity (Deficit)   5

              Consolidated Statements of Cash Flows                   6

              Notes to Consolidated Financial Statements              7-10 

      Management's Discussion and Analysis of Financial   
      Condition and Results of Operations                             11-13 

PART II  -  OTHER INFORMATION                                         14

            Signatures                                                15


      HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
                  CONSOLIDATED BALANCE SHEETS
              JUNE 30, 1998 AND DECEMBER 31, 1997

                           ASSETS

                                              1998         1997
                                           (Unaudited)

INVESTMENT IN REAL ESTATE
  Building and building improvements      $ 15,009,692   $  15,178,365
  Land                                          97,034          97,034
  Furniture and equipment                      966,105         970,736
  Marina - land and improvements             1,502,893       1,376,259
  Deferred evaluation and acquisition costs  1,102,600       1,102,600
                                            ----------    ------------  
                                            18,678,324      18,724,994
    Less accumulated depreciation and 
     amortization                            4,065,242       3,830,865
                                            ----------      ----------
                                            14,613,082      14,894,129
  Reserve for realization of Marina land 
    and improvements                          (845,672)       (845,672)
                                            -----------     -----------
                                            13,767,410      14,048,457

CASH AND CASH EQUIVALENTS                      808,163         670,811
SECURITY DEPOSITS                               87,986          86,641
ESCROW DEPOSITS                                419,631         152,212
DEFERRED COSTS, net of accumulated
 amortization (1998, $42,626; 1997, $33,492)   140,059         149,193
OTHER ASSETS                                   163,967         116,807
                                             ---------      ----------
                                          $ 15,387,216    $ 15,224,121
                                          ============    ============
                  LIABILITIES AND PARTNERS' EQUITY

LIABILITIES:
  Note payable                            $  5,694,613    $ 5,767,197
  Accrued expenses and other liabilities       343,859        286,315
  Security deposits                             80,385         82,271
                                          ------------    -----------
     Total liabilities                       6,118,857      6,135,783
                                          ------------    -----------
COMMITMENTS  (Note 5)  

PARTNERS' EQUITY
  Limited Partners' equity-Units of Investor
    Limited Partnership Interest, $1,000 
    stated value per Unit-16,361 issued and 
    outstanding units                       9,318,037      9,139,816
  General Partner's deficit                   (49,678)       (51,478)
                                           -----------    ----------- 
     Total partners' equity                 9,268,359      9,088,338
                                         ------------     ----------  
                                        $  15,387,216   $ 15,224,121
                                        =============   ============

The accompanying notes are an integral part of these financial statements.

                                  3
      
       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
               CONSOLIDATED STATEMENTS OF OPERATIONS
          FOR THE THREE MONTHS ENDED JUNE 30, 1998 AND 1997
         AND FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND 1997
                            (UNAUDITED)

                                    Three Months          Six Months 
                                    Ended June 30,       Ended June 30,
                                  1998       1997       1998       1997

REVENUES:
  Rental and related income   $ 938,796   $ 857,409  $ 1,746,083  $1,539,130
  Interest and other income      13,777       7,078       23,588      13,267
                              ---------   ---------  -----------  ----------
                                952,573     864,487    1,769,671   1,552,397
                              ---------   ---------   ----------   --------- 

EXPENSES:
  Operating and
   administrative                62,523      51,622      122,196     96,010
  Property operating expenses   536,090     447,019      952,929    882,335
  Depreciation and 
   amortization                 142,885     143,310      289,341    291,976
                              ---------    --------    ---------   --------
                                741,498     641,951    1,364,466  1,270,321
                              ---------    --------    ---------  ---------
        
INCOME FROM OPERATIONS          211,075     222,536      405,205    282,076

INTEREST EXPENSE                112,237     119,137      225,184    238,882
                              ---------    --------     --------   --------

NET INCOME                  $    98,838   $ 103,399    $ 180,021  $  43,194     
                            ===========   =========    =========  =========

NET INCOME ALLOCATED TO
  GENERAL PARTNER           $      988    $   1,034    $   1,800  $    432
                            ==========    =========    =========  ========

NET INCOME ALLOCATED TO
  LIMITED PARTNERS          $   97,850    $ 102,365    $ 178,221   $ 42,762
                            ==========    =========    =========   ========

NET INCOME PER UNIT OF 
  INTEREST, BASED ON 
  16,361 UNITS 
  OUTSTANDING               $    5.98     $   6.25     $  10.89    $  2.61
                            =========     ========     ========    =======

The accompanying notes are an integral part of these financial statements.

                                  4

        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
          CONSOLIDATED STATEMENTS OF PARTNERS' EQUITY (DEFICIT)
               FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND
                    THE YEAR ENDED DECEMBER 31, 1997

                       Units of
                       Investor      Investor
                        Limited       Limited       General
                      Partnership    Partners'     Partner's
                       Interest       Equity        Deficit      Total

BALANCE,
 December 31, 1996       16,361    $ 8,930,109    $ (53,596)   $ 8,876,513

    Net Income                -        209,707        2,118        211,825
                       --------    -----------    ----------   -----------    
BALANCE, 
 December 31, 1997       16,361      9,139,816      (51,478)     9,088,338

    Net income
    (Unaudited)               -        178,221        1,800        180,021
                         -------     ---------    ---------     ----------

BALANCE, 
  June 30, 1998          
  (Unaudited)            16,361    $ 9,318,037    $ (49,678)   $ 9,268,359
                        =======    ===========    ==========   ===========

  The accompanying notes are an integral part of these financial statements.
                                    
                                    5

       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
                 CONSOLIDATED STATEMENTS OF CASH FLOWS
            FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND 1997
                            (UNAUDITED) 

                                                  1998          1997
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                   $ 180,021    $  43,194
 	Adjustments to reconcile net income
   to net cash provided by operating
   activities:
     Depreciation and amortization               289,341      291,976
     Decrease (Increase) in security 
      deposits, net                               (3,231)         687
     Increase in escrow deposits                (267,419)    (143,116)
     Increase in other assets                    (37,660)     (38,521)
     Increase in accrued expenses and 
      other liabilities                           57,544      148,475
                                               ---------    ---------
  Net cash provided by operating activities      218,596      302,695
                                               ---------    ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Purchase of furniture & equipment               (4,869)        (551)
  Additions to Marina                           (126,634)     (19,105)
  Proceeds from exchange of building 
   and building improvements                     122,843            -
                                              ----------     ---------

     Net cash used in investing activities        (8,660)      (19,656)
                                              -----------     ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Principal payments of mortgage 
   note payable                                  (72,584)      (71,400)
                                              -----------     ---------
  Cash used in financing activities              (72,584)      (71,400)
                                              -----------     ---------
NET INCREASE IN CASH AND 
  CASH EQUIVALENTS                               137,352       211,639

CASH AND CASH EQUIVALENTS, 
  BEGINNING OF PERIOD                            670,811       384,534
                                              ----------     ---------

CASH AND CASH EQUIVALENTS,
  END OF PERIOD                               $  808,163     $ 596,173
                                             ===========     ==========

SUPPLEMENTAL CASH FLOW INFORMATION:

  Cash paid for interest                      $  225,184     $ 238,882
                                              ==========     =========

The accompanying notes are an integral part of these financial statements.

                                  6

        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                            JUNE 30, 1998
                            (UNAUDITED)


(1)	Organization and General Partner - BHP II

Historic Preservation Properties 1990 L.P. Tax Credit Fund 
(HPP'90) was formed on October 4, 1989 under the Delaware 
Revised Uniform Limited Partnership Act. The purpose of 
HPP'90 is to invest in a portfolio of real properties which 
qualified for rehabilitation tax credits (Rehabilitation Tax 
Credits) afforded by Section 47 of the Internal Revenue Code 
of 1986, as amended, to rehabilitate such properties (or 
acquire such properties in the process of rehabilitation and 
complete such rehabilitation) in a manner intended to render 
a portion of the costs thereof eligible for Rehabilitation 
Tax Credits, and to operate such properties.

Boston Historic Partners II Limited Partnership (BHP II), a 
Delaware limited partnership, is the general partner of 
HPP'90. BHP II was formed in June 1989 for the purpose of 
organizing, syndicating, and managing publicly offered real 
estate limited partnerships (Public Rehabilitation 
Partnerships).

(2)	Basis of Presentation

The accompanying unaudited financial statements have been 
prepared in accordance with generally accepted accounting 
principles for interim financial information and generally 
with the instructions to Form 10-Q and Article 10 of 
Regulation S-X.  Accordingly, they do not include all of the 
information and footnotes required by generally accepted 
accounting principles for complete financial statements.  In 
the opinion of management, all adjustments (consisting of 
normal recurring accruals) considered necessary for a fair 
presentation have been included.  Operating results for the 
six months ended June 30, 1998, are not necessarily 
indicative of the results that may be expected for the year 
ending December 31, 1998.  For further information, refer to 
the financial statements and footnotes thereto included in 
the Annual Report on Form 10-K for the year ended December 
31, 1997 for HPP'90, as filed with the Securities and 
Exchange Commission.

	Certain amounts in the 1997 financial statements have been 
reclassified to conform to the 1998 presentation.

(3) 	Investment in Real Estate

	During 1990, HPP'90 acquired an interest in the following 
entities (see below for subsequent changes in ownership):

Henderson's Wharf Baltimore, L.P. (the Building Venture) is a 
Delaware limited partnership formed on July 20, 1990 to 
acquire a fee interest in a seven-story building on 1.5 acres 
of land and to rehabilitate the building into residential 
apartment units with 149 indoor parking spaces (the 
Apartments) and a 38 room inn (the Inn) located at 1000 Fell 
Street, Baltimore, Maryland. In addition to the inn, the 
building contains a total of 137 residential units, 9 of 
which are owned by unrelated parties. The building has been 
substantially renovated and certain renovation costs qualify 
for Rehabilitation Tax Credits. The Building Venture 
purchased its interest for $6,812,500, which included seller 
financing of $6,350,000, and a contingent purchase price 
promissory note (see Note 4). Contributions by HPP'90 to the 
Building Venture totaled $12,214,500 as of June 30, 1998.    

HPP'90 has made all required capital contributions to the 
Building Venture in accordance with the Building Venture's 
partnership agreement, and is not required to make additional 
contributions, although at its sole discretion, may do so.

The economic occupancy for the quarter ended June 30, 1998 
for the residential units was 94% (unaudited) and the average 
occupancy for the inn was 84% (unaudited).

On February 27, 1996, the Building Venture purchased three 
condominium units and parking spaces owned by unrelated 
parties, in conjunction with the refinancing of its note 
payable (see Note 4).

On March 17, 1998, HWB exchanged a condominium unit and 
parking spaces with an unrelated party in return for that 
unrelated party's condominium unit, parking spaces and 
$135,000.  The transaction resulted in net cash proceeds of 
$122,843 after closing costs.  

HPP'90's operations, principally accounting, investor 
services and other general and administrative costs, are 
funded from distributions by the Building Venture. For the 
six  months ended June 30, 1998 and 1997,  the Building 
Venture distributed to HPP'90, $150,000 and $141,000,  
respectively. 

                                7

        HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                            JUNE 30, 1998
                             (UNAUDITED)


(3)	Investment in Real Estate (continued)

Rehabilitation Tax Credits generated by the Building Venture 
and previously allocated to HPP'90's Limited Partners totaled 
$3,174,059 since inception.  As of December 31, 1996, 100% of 
the credits were fully vested.  

Henderson's Wharf Marina, L.P. (the Marina Venture) is a 
Delaware limited partnership formed on July 20, 1990 to 
acquire a fee interest in a 1.92 acre parcel of land together 
with a 256-slip marina (the Marina) located in Baltimore, 
Maryland. HPP'90 purchased the Marina Venture for $1,266,363, 
which included seller financing of $1,187,500. Contributions 
to the Marina Venture by HPP'90 totaled $247,219 as of June 
30, 1998. 

HPP'90 may make additional capital contributions to the 
Marina Venture as provided in the Marina Venture's 
partnership agreement, but is not required to do so.

The Marina Venture had operated a minimal number of slips 
from 1991 through 1995 due to the significant repairs 
necessary to be fully operational.  For the six  months ended 
June 30, 1998 and for the years ended December 31, 1997 and 
1996, the Marina Venture added $126,634, $33,727 and $23,049, 
respectively, of utility, safety and other improvements, 
increasing the number of fully operational slips to 256.  
Substantial repairs are still needed to maintain the Marina 
Venture's land which provides parking to the Marina and Inn 
(see Note 5).

On December 31, 1992, the Third Amended and Restated 
Agreement of Limited Partnership of Henderson's Wharf Marina 
L.P. was executed.  HWFP, Inc. (HWFP), a Maryland corporation 
and the original holder of the purchase money note relating 
to the purchase of the marina property, received a 50% 
limited partnership interest in the Marina Venture and became 
the holder of a minority interest (see Note 4). 

On February 27, 1996, the Partnership redeemed HWFP's 50% 
limited partnership interest in the Marina Venture by issuing 
a $225,000 promissory note payable secured by the marina 
property.   As a result of this redemption, HPP'90's limited 
partnership interest in the Marina Venture increased to 98% 
and HWDC's general partnership interest in the Marina Venture 
increased to 2% as of the date of redemption.  On September 
30, 1997, the Building Venture advanced the Marina Venture 
$200,000, and the Marina Venture then settled in full the 
promissory note payable to HWFP  (see Note 4). 

	The Building Venture and the Marina Venture are collectively 
referred to as "the Ventures".

Generally, allocations of net profits and losses as well as 
cash flow of the Building Venture and Marina Venture are 
allocated in accordance with the Ventures' respective amended 
partnership agreements.  

(4) 	Note Payable

The Building Venture originally financed $6,350,000 of the 
purchase price of the property by issuing a purchase money 
note to the seller, HWFP. In conjunction with issuing a 
purchase money note to the seller, the Building Venture 
entered into a contingent purchase price promissory note with 
the seller for $1,250,000. Payment on the note was contingent 
upon the cash flow (as defined) generated from the future 
sale of apartment units in the Building Venture. The note was 
unsecured, bore no interest, and had no maturity date. 

On February 27, 1996, HPP'90 issued a $6,000,000 deed of 
trust note to a third party lender which provided funds for 
the Building Venture to refinance the then outstanding 
balance of the seller financed purchase money note totaling 
$5,590,418, to pay $109,582 to the seller in release of the 
contingent purchase price promissory note, and to purchase in 
part three condominium units and parking spaces owned by 
unrelated parties for an aggregate purchase price of 
$332,682. The deed of trust note bears interest at 7.85%, 
amortizes over a 20-year schedule and requires monthly 
principal and interest payments in the amount of $49,628, 
which commenced April 1996 with the remaining unpaid 
principal and interest due in March 2016. Under the deed of 
trust note, the lender has the option with six months written 
notice to call amounts outstanding under the deed of trust 
note at the end of ten years (February 2006) or anytime 
thereafter. The deed of trust note is secured by the Building 
Venture's property, rents and assignment of leases and is 
guaranteed by the Building Venture.

                                    8

         HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                             JUNE 30, 1998
                              (UNAUDITED)

(4) 	Note Payable (continued)

As mentioned in Note 3, on February 27, 1996, HPP'90, HWDC 
and HWFP entered into the First Amendment to the Third 
Amended and Restated Agreement of Limited Partnership of 
Henderson's Wharf Marina, L.P. by which the Partnership 
redeemed HWFP's 50% limited partnership interest in the 
Marina Venture by issuing a $225,000 promissory note payable 
secured by the marina property. The note bore  interest at 
7.50%, matured in March 2006, and required monthly principal 
and interest payments in the amount of $2,086 which commenced 
April 1996. The transaction resulted in a $39,981 reduction 
of basis in the marina property during the year ended 
December 31, 1996.  HPP'90's limited partnership interest in 
the Marina Venture increased to 98% and HWDC's general 
partnership interest in the Marina Venture increased to 2% as 
of the date of the redemption.  On September 30, 1997, the  
Building Venture advanced the Marina Venture $200,000, and 
the Marina Venture settled in full the remaining outstanding 
principal balance of $212,532 and all accrued interest due 
under the promissory note to HWFP.

	Approximate  aggregate annual maturities under the deed of 
trust note  for each of the next five years are as follows:

                    Year Ending December 31       Amount

                            1999               $   160,113
                            2000                   173,145
                            2001                   187,236
                            2002                   202,475
                            2003                   218,954

(5)  	Transactions With Related Parties, Commitments and 
Contingencies

The Building Venture entered into a consulting agreement 
(Consulting Agreement), which expired on December 31, 1991, 
that required the Building Venture to pay Hillcrest 
Management Inc., (HMI) a Massachusetts corporation and former 
limited partner of the Ventures with whom the Ventures had 
several contracts, a $15,000 refinancing fee upon the closing 
of any refinancing of the existing Building Venture's 
financing.  The Consulting Agreement also required the 
Building Venture to pay HMI an incentive fee equal to 1% of 
the gross sales proceeds resulting from the sale of the 
building property to an unaffiliated third party buyer.  The 
Building Venture paid the $15,000 refinancing fee to HMI in 
March 1996 as a result of refinancing its purchase price 
promissory note as discussed in Note 4.  The incentive fee 
commitment survives the December 31, 1991 expiration date of 
the Consulting Agreement and the termination of all other 
agreements with HMI (see below).

HPP'90 entered into an agreement on behalf of the Ventures to 
pay contract termination settlement payments (Settlement 
Payments) totaling $271,108 to HMI.  The Settlement Payments 
required an initial payment of $36,000 on January 27, 1995 
and require monthly payments of $3,221 through the earlier of 
September 2001 or the occurrence of certain events as defined 
in the agreement. The Settlement Payments are secured by 100% 
of HPP'90's economic interest as a partner in the Ventures, 
as defined in the agreements; net sales and refinancing 
proceeds; cash flow; return of capital contributions; all of 
HPP'90's cash and marketable securities in excess of 
$150,000; and all of the Ventures' cash in excess of the 
greater of $200,000 or reserves required by lenders. No 
distributions to the partners of HPP'90 are permitted until 
all Settlement Payments are paid in full. The Settlement 
Payments may be prepaid, as defined in the agreement, without 
penalty.  As of June 30, 1998 and December 31, 1997, unpaid 
Settlement Payments included in accrued expenses and other 
liabilities totaled $125,604 and $144,928, respectively.

On November 1, 1995, the Building and Marina Venture entered 
into property management contracts with Claremont Management 
Corporation (CMC), an unaffiliated Massachusetts corporation, 
to manage the apartment, inn and marina operations.  The 
property management contracts provided for payment of 
management fees to CMC equal to 4% of  apartment gross 
receipts, 4.5% of inn gross receipts, and 9% of marina gross 
receipts, as defined, respectively.  The agreements expired 
on June 30, 1998.  A condition of the agreements required the 
Ventures to maintain with CMC, for the benefit of the 
Ventures, operating cash and contingency reserves of $190,000 
and $70,000, respectively.  As of June 30, 1998, the 
Ventures' operating cash and contingency reserves totaled 
$622,533.  Management fees paid to CMC by the Ventures 
totaled $74,668 and $72,535 for the six  months ended June 
30, 1998 and 1997, respectively.

                                 9

     HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
       NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           JUNE 30, 1998
                            (UNAUDITED)

(5) Transactions With Related Parties, Commitments and 
Contingencies (continued)

Effective July 1, 1998, the Building Venture and Marina 
Venture entered into property management contracts with Gunn 
Financial, Inc. (Gunn), an unaffiliated Massachusetts 
corporation, to oversee the property management of the 
apartment, inn and marina operations.  The Property 
management contracts will provide for the payment of 
management fees to Gunn equal to 4% of apartment gross 
receipts, 4% of inn gross receipts, and 4% of marina gross 
receipts, as defined, respectively.  The agreements expire 
the earlier of June 30, 2006 or upon the disposition of the 
Ventures' properties, as defined.  Also effective July 1, 
1998, Gunn subcontracted Winn Management Company, an 
unaffiliated Massachusetts corporation who manages numerous 
properties throughout the East Coast, to provide certain on-
site property management services to the apartment, inn and 
marina operations.  

On October 1, 1995, HPP'90 engaged CMC to provide accounting, 
asset management and investor services. CMC provided such 
services for an annual management fee of $38,400, plus 
reimbursement of all its costs of providing these services. 
The agreement expired on June 30, 1998.  Expense 
reimbursements to CMC for the six months ended June 30, 1998 
and 1997 totaled $84,951 and $59,237, respectively.
	
Effective July 1, 1998, HPP'90 engaged Gunn to provide 
accounting, asset management and investor services.  Gunn 
will provide such services for an annual management fee of 
$36,000, plus reimbursement of all its costs of providing 
these services.  The agreement expires the earlier of June 
30, 2006 or upon the disposition of the Ventures' 
properties, as defined.            
      
According to a provision in one purchase and sale contract of 
one of three condominiums purchased on February 27, 1996, the 
purchase price for that condominium is the greater of the 
seller's outstanding mortgage balance as of the date of 
purchase or the fair market value of the property determined 
by independent appraisal through a period extending through 
June 1, 1999.  At the February 27, 1996 closing, the purchase 
price paid was the then outstanding balance of the seller's 
mortgage.  If, through June 1, 1999, the fair market value is 
determined to be greater than the amount paid at the closing, 
HWB will be required to pay the excess of the determined fair 
market value over the purchase price paid at the closing to 
the seller.  As a part of the purchase agreement, HWB has 
established a $25,000 collateral escrow in the event that an 
additional payment has to be made to the seller.

During 1997, the Building Venture and the condominium 
association to which it belongs filed suit against one unit 
owner for failure to pay condominium assessments and 
nuisance.  The suit asked for actual damages as well as 
compensatory and punitive damages totaling $120,000. The unit 
owner filed a counterclaim against the Building Venture, the 
condominium association to which it belongs, and other third 
parties for alleged breach of contract and related counts.  
The counterclaim asked for compensatory and punitive damages 
totaling $3,901,000.  In July 1998, the parties agreed to 
settle these disputes out of court through an agreement by 
which the Building Venture would  purchase the unit owner's 
unit for an agreed upon market price and other certain terms 
with a closing date expected in September 1998.

Within the next few years, significant repairs are needed to 
maintain the Marina Venture's land which provides parking to 
the Marina and Inn.  In October 1997, the Marina Venture 
entered into a letter of intent with a third party real 
estate developer to form an entity whose purpose would 
include repairing the land and the developing of the marina. 
 The letter of intent expired on January 10, 1998 with no 
expectation of further negotiations. The Partnership now 
anticipates that capital resources to fund the repairs are 
likely to be provided by additional contributions of the 
Partnership.  The Marina Venture estimates the cost of 
replacing the bulkhead to retain the land to be approximately 
$2,000,000.  Also, the Partnership is 
investigating other potential sources of available parking 
for the Marina and Inn.  It is reasonably possible that the 
outcome of this uncertainty might be determined in the near 
term.

(6) 	Fair Value of Financial Instruments

The carrying amounts of cash and cash equivalents, escrow 
deposits, accrued expenses and other liabilities, and 
security deposits at June 30, 1998 and December 31, 1997 
approximate their fair values due to their short maturities. 
The fair value of the note payable at June 30, 1998 and 
December 31, 1997 approximate their carrying amounts based on 
the interest rates currently available to HPP'90 for similar 
financing arrangements. All financial instruments are held 
for non-trading purposes.

                              10

       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF
             FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                             JUNE 30, 1998

Liquidity and Capital Resources. The Partnership terminated its 
offering of Units on December 31, 1990, at which time Limited 
Partners had purchased 16,361 Units, representing gross capital 
contributions of $16,361,000.  As of June 30, 1998, the Partnership 
had invested an aggregate of $12,461,719 in the Building and Marina 
Ventures. 

Such amount contributed in the Building and Marina Ventures 
represents approximately 100% of the Limited Partners' capital 
contribution after deducting selling commissions, organizational 
and sales costs, acquisition fees and reserves.  The Partnership 
does not anticipate making any additional investments in new real 
estate, except for the occasional purchase of one of the nine third 
party owned condominium units and the potential acquisition of 
needed off-site parking.

As of June 30, 1998, the Ventures and HPP'90 had cash and cash 
equivalents, excluding security deposit cash, of $623,883 and 
$184,280, respectively. HPP'90's cash and cash equivalents are used 
primarily to fund general and administrative expenses of running 
the public fund. The Venturers' cash and cash equivalents are used 
to fund operating expenses and debt service of the properties. In 
addition, to the extent available, the Building Venture distributes 
cash to HPP'90 to fund general and administrative expenses of 
managing the public fund. For the six months ended June 30, 1998 
and 1997, the Building Venture distributed $150,000 and $141,000, 
respectively, to HPP'90.

Settlement Payments due HMI, that were negotiated as part of the 
contract termination, are secured by 100% of HPP'90's economic 
interest as a partner, as defined in the agreements, in the 
Ventures; net sales and refinancing proceeds; cash flow; return of 
capital contributions; all of HPP'90's cash and marketable equity 
securities in excess of $150,000; and all of the Ventures' cash in 
excess of the greater of $200,000 or reserves required by potential 
lenders.  No distributions to the partners of HPP'90 are permitted 
until all settlement payments are paid in full.  The Settlement 
Payments may be prepaid, as defined in the agreement, without 
penalty.  As of June 30, 1998 and December 31, 1997, unpaid 
Settlement Payments included in accrued expenses and other 
liabilities totaled $125,604 and $144,928, respectively.

On February 27, 1996, the Building Venture obtained financing of 
$6,000,000 at 7.85% which requires monthly principal and interest 
payments totaling $49,628 based on a 20 year amortization. The deed 
of trust note matures in March 2016, however, under the deed of 
trust note, the lender has the option with six months written 
notice to call amounts outstanding under the deed of trust note at 
the end of ten years (February 2006) or anytime thereafter.  The 
deed of trust note is secured by the Building Venture's property, 
rents and assignment of leases and is guaranteed by the Building 
Venture.

On February 27, 1996, HPP'90, HWDC and HWFP, Inc. entered into the 
First Amendment to the Third Amended and Restated Agreement of 
Limited Partnership of Henderson's Wharf Marina, L.P. by which the 
Partnership redeemed HWFP's 50% limited partnership interest in the 
Marina Venture by issuing a $225,000 promissory note secured by the 
marina property.  On September 30, 1997, the Building Venture 
advanced the Marina Venture $200,000 and the Marina Venture then 
settled in full the remaining outstanding principal balance of 
$212,532 and all accrued interest due under the promissory note 
payable to HWFP.

On March 17, 1998, HWB exchanged a condominium unit and parking 
spaces with an unrelated party in return for that unrelated party's 
condominium unit, parking spaces and $135,000.  The transaction 
resulted in net cash proceeds of $122,843 after closing costs.

Within the next few years, significant repairs are needed to 
maintain the Marina Venture's land which provides parking to the 
Marina and Inn.  In October 1997, the Marina Venture entered into a 
letter of intent with a third party real estate developer to form 
an entity whose purpose would include repairing the land and the 
developing of the marina.  The letter of intent expired on January 
10, 1998 with no expectation of further negotiations. The 
Partnership now anticipates that capital resources to fund the 
repairs are likely to be provided by additional contributions of 
the Partnership.  The Marina Venture estimates the cost of 
replacing the bulkhead to retain the land to be approximately 
$2,000,000.  Also, the Partnership is investigating other potential 
sources of available parking for the Marina and Inn. 

HPP'90's short-term liquidity depends upon its ability to receive 
distributions from the Building Venture.  The short-term liquidity 
of the Building Venture depends on its ability to generate 
sufficient rental income to fund operating expenses and debt 
service requirements and have sufficient cash to distribute to 
HPP'90.  The short-term liquidity of the Marina Venture depends on 
its ability to generate sufficient rental income to fund operating 
expenses and make capital expenditures to maintain the existing 
capacity of the marina and make additional capital improvements to 
expand the marina's existing capacity.  HPP'90 has advanced 
approximately $277,000 to the Marina through June 30, 1998 to fund 
operations.  It is not expected that the Marina Venture will 
generate sufficient short-term liquidity to repay advances made by 
HPP'90.

                                11

      HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF
       FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)
                            JUNE 30, 1998

Cash flow generated from the Partnership's present investment 
properties and the Partnership's share of the proceeds from the 
sale of such properties is expected to be the source of future 
long-term liquidity.

Results of Operations.  The Partnership generated net income under 
generally accepted accounting principles of $180,021 for the six 
months ended June 30, 1998 which includes depreciation and 
amortization of $289,341. 

The Building Venture was fully operational during the entire year. 
The Marina Venture had operated a minimal number of its 256 slips 
from 1991 to 1995 due to significant repairs necessary to be fully 
operational. During the six months ended June 30, 1998 and in the 
years 1997 and 1996 the Marina Venture added $126,634, $33,727, and 
$23,049, respectively, of utility, safety and other improvements 
increasing the number of fully operational slips to 256.  However, 
other substantial repairs are still needed to maintain the Marina 
Venture's land which provides parking to the Marina and Inn.

The results of the Partnership's operations in future years should 
be comparable to 1997 numbers provided the Building Venture is able 
to maintain greater than 90% economic occupancy in the Apartments 
and greater than 65% occupancy in the Inn.  Expense levels are 
expected to increase with the rate of inflation but, it is 
anticipated that the monthly rents and the average daily room rate 
revenues should increase accordingly.

The Apartments have achieved stabilized occupancy with economic 
occupancy rates of 94%, and 97% for the quarters ended June 30, 
1998 and 1997, respectively.  Management is projecting economic 
occupancy for the Apartments to be approximately 95% as well as a 
5% increase in rental rates for calendar year 1998.  Management 
expects economic occupancy to remain about 95% and rental rates to 
increase between 3% to 5% in future years after 1998.  

The Apartments also began charging parking fees for garaged parking 
in 1996 and achieved full implementation of the parking fee policy 
by the end of 1997.  Management is projecting a 25% increase in 
parking fee rates for the calendar year 1998.  

The average occupancy of the Inn for the quarters ended June 30, 
1998 and 1997 was 84% and 82%, respectively.  Management is 
projecting an average annual occupancy for the Inn of 72%, as well 
as a 4% increase in the average daily room rate for calendar 
year 1998. The Inn occupancy in future years is expected to 
stay at the same level, absent any significant adverse 
market conditions or increase in existing market competition.  
Management expects the Inn's average daily room rate to 
increase between 3% to 5% in future years after 1998. 

The Partnership recorded net income of $98,838 for the three months 
ended June 30,  1998, a slight decrease as compared to net income 
of $103,399 for the three months ended June 30, 1997.  Rental and 
related income increased for the three months ended June 30, 1998, 
compared to the same period in 1997, due to increased occupancy and 
average daily room rates at the Inn as well as increased rental and 
parking rates at the Apartments.  The Inn's occupancy increased 
approximately 4% and the average daily rate for inn rooms increased 
approximately 12% for the quarter ended June 30, 1998, as compared 
to the quarter ended June 30, 1997.  Due to the strength of the 
residential rental market, the average apartment rental income rate 
increased approximately 3% and parking revenue increased by 
approximately $9,000 for the quarter ended June 30, 1998, compared 
to the same period in 1997.  Property operating expenses increased 
for the three months ended June 30, 1998, compared to the same 
period in 1997, primarily due to increased food and beverage 
activity at the Inn, repair and maintenance expenditures at the 
Apartments, and salaries for additional staffing at the Marina. 

The Partnership recorded net income of $180,021 for the six months 
ended June 30, 1998, a $136,827 increase compared to the net income 
of $43,194 for the six months ended June 30, 1997.  This increase 
in net income is primarily attributed to an increase in rental and 
related income offset by an increase in property operating 
expenses.  Rental and related income increased for the six months 
ended June 30, 1998, compared to the same period in 1997, due to 
increased occupancy and average daily room rates at the Inn as well 
as increased rental and parking rates at the Apartments.  For the 
six months ended June 30, 1998, the average daily rate for Inn 
rooms increased approximately 17% as compared to the six months 
ended June 30, 1997.  The average apartment rental income rate 
increased 4% and parking revenue increased by approximately $19,000 
for the six months ended June 30, 1998, as compared to the same 
period in 1997.  Property operating expenses increased for the 
quarters ended June 30, 1998, compared to the same period in 1997, 
primarily due to increased food and beverage activity at the Inn, 
repair and maintenance expenditures at the Apartments, and salaries 
for additional staffing at the Marina.

                                  12

    HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
             MANAGEMENT'S DISCUSSION AND ANALYSIS OF
      FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)
                            JUNE 30, 1998

Inflation and Other Economic Factors	

Recent economic trends have kept inflation relatively low although 
the Partnership cannot make any predictions as to whether recent 
trends will continue.  The assets of the Partnership are highly 
leveraged in view of the fact that the Building Venture is subject 
to a substantial mortgage debt as of June 30, 1998.  Operating 
expenses and rental revenues of each property are subject to 
inflationary factors.  Low rates of inflation could result in 
slower rental rate increases, and to the extent that these factors 
are not offset by similar increases in property operating expenses 
(which could arise as a result of general economic circumstances 
such as an increase in the cost of energy or fuel, or from local 
economic circumstances), the operations of the Partnership could be 
adversely affected.  Actual deflation in prices generally would, in 
effect, increase the economic burden of the mortgage debt service 
with a corresponding adverse effect.  High rates of inflation, on 
the other hand, raise the operating expenses for projects and to 
the extent they cannot be passed on to tenants through higher 
rents, such increases could also adversely affect Partnership 
operations.  Although, to the extent rent increases are 
commensurable, the burden imposed by the mortgage leverage is 
reduced with a favorable effect.  Low levels of new construction of 
similar projects and high levels of interest rates may foster 
demand for existing properties through increasing rental income and 
appreciation in value.

Year 2000 Issues

The Partnership and the Ventures have analyzed the effect of the 
Year 2000 on their respective financial and computer systems and 
have incorporated and/or expect to have incorporated the necessary 
modifications to avert any negative consequences.  The Partnership 
does not anticipate Year 2000 issues to have any material effect on 
its operations or the operations of the Ventures, or incur 
substantial costs to address Year 2000 issues.

                              13

       HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND
                     PART II - OTHER INFORMATION
                            JUNE 30, 1998

Item 1.		Legal Proceedings - In 1997, the Building Venture 
and the condominium association to which it belongs filed 
suit against one unit owner for failure to pay condominium 
assessments and nuisance.  The suit asked for actual damages 
as well as compensatory and punitive damages totaling 
$120,000.  The unit owner filed a counterclaim against the 
Building Venture, the condominium association to which it 
belongs, and other third parties for alleged breach of 
contract and related counts.  The counterclaim asked for 
compensatory and punitive damages totaling $3,901,000.  In 
July 1998, the parties agreed to settle these disputes out 
of court through an agreement by which the Building Venture 
would purchase the unit owner's unit for an agreed upon 
market price and other certain terms with a closing date 
expected in September 1998.  
	
Item 2.		Changes in Securities - Not applicable.

Item 3.		Defaults Upon Securities - Not applicable.

Item 4.		Submission of Matters to a Vote of Security Holders
         - Not applicable.

Item 5.		Other Information - Not applicable.

Item 6.		Exhibits and Reports from Form 8-K

       		(a)	Exhibits
             None.

      		(b)	Reports from Form 8-K
            None.

                                  14

          HISTORIC PRESERVATION PROPERTIES 1990 L.P. TAX CREDIT FUND

                               SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the 
Securities Exchange Act of 1934, the Registrant has duly caused 
this report to be signed on its behalf by the undersigned, 
thereunto duly authorized.

                 				HISTORIC PRESERVATION PROPERTIES 1990
                 				L.P. TAX CREDIT FUND

                     By:	Boston Historic Partners II Limited Partnership
                         General Partner
                         
                         By:	BHP II Advisors Limited Partnership
                             General Partner

                             By:	Portfolio Advisory Services, II Inc.
                                 General Partner

Date:  August 1, 1998            By:	/s/ Terrence P. Sullivan
                                     Terrence P. Sullivan,
                                     President

                             and
				
Date:  August 1, 1998        By:	/s/ Terrence P. Sullivan
                                 Terrence P. Sullivan

                               15