In my real estate career I’ve been involved in all types of deals from simple to complex.
I’ve done many “condo conversions” … where you buy an apartment and convert it to a condo development & then sell off the condos.
Well, I just read a very creative “condo conversions” … “Masonic Temples Reborn as Luxury Condos”!
The real estate section of the Wall Street Journal had a great article on how there has been a rise in the number of Masons selling their old temples to developers, who in turn are constructing beautiful condos. If you’ve ever been to New York or any large downtown city, you’ll see some breath-taking views of incredible architecture.
“Freemasonry—a global, fraternal organization that dates to the 18th century with a goal of "Making Good Men Better"—w once a major force in American society. Members included George Washington, Ben Franklin and Andrew Mellon. Between the late 1870s and the early 1930s, members built large and elaborate temples and lodges across the country, often with imposing facades and intricate carvings.
Today, with membership down to about a million from four million in the 1950s, the Masons can't afford the upkeep of all these antiquated buildings, which are typically in downtown areas with limited parking. The absence of working elevators also makes the buildings difficult for aging members to use.
As a result, more Masons have sold their temples and relocated to smaller, more modern structures in the suburbs. Developers and individuals have snapped up the buildings, encouraged by the rebounding real-estate market and demand for luxury condos.”
“Converting a Masonic temple to residences isn't always easy for the developers either. The buildings tend to be outdated and in disrepair. The spaces, which always include a large theater or meeting room, are a challenge to reconfigure. To qualify for federal historic tax credits, a project must "preserve the building's historic character," says Brian Goeken, a National Park Service employee who manages tax incentives for historic-preservation projects. In the case of Masonic temples, that means the large open meeting hall can't be chopped up into smaller units.
On the other hand, since masonry is a central component of the origin of the Freemasons, the structures are also incredibly well built. Temples are meant to be "representations of Solomon's Temple," and are symbols of masculinity, says William Moore, an associate professor in Boston University's department of history of art and architecture and author of "Masonic Temples: Freemasonry, Ritual Architecture and Masculine Archetypes." Often there are extra flourishes and symbols incorporated into the architecture—a blazing star, an all-seeing eye and the Masons' best-known symbol, a square and compass and the letter "G," believed to stand for geometry and God.”
Real estate investing is EVERYWHERE in EVERY POSSIBLE FORM!!!
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
In my real estate career I’ve been involved in all types of deals from simple to complex.
I’ve done many “condo conversions” … where you buy an apartment and convert it to a condo development & then sell off the condos.
Well, I just read a very creative “condo conversions” … “Masonic Temples Reborn as Luxury Condos”!
The real estate section of the Wall Street Journal had a great article on how there has been a rise in the number of Masons selling their old temples to developers, who in turn are constructing beautiful condos. If you’ve ever been to New York or any large downtown city, you’ll see some breath-taking views of incredible architecture.
NANCY KEATES followed this “trend” and wrote an article for the WSJ
(http://online.wsj.com/article/SB1000142405270230421390457909348353463374...)
“Freemasonry—a global, fraternal organization that dates to the 18th century with a goal of "Making Good Men Better"—w once a major force in American society. Members included George Washington, Ben Franklin and Andrew Mellon. Between the late 1870s and the early 1930s, members built large and elaborate temples and lodges across the country, often with imposing facades and intricate carvings.
Today, with membership down to about a million from four million in the 1950s, the Masons can't afford the upkeep of all these antiquated buildings, which are typically in downtown areas with limited parking. The absence of working elevators also makes the buildings difficult for aging members to use.
As a result, more Masons have sold their temples and relocated to smaller, more modern structures in the suburbs. Developers and individuals have snapped up the buildings, encouraged by the rebounding real-estate market and demand for luxury condos.”
“Converting a Masonic temple to residences isn't always easy for the developers either. The buildings tend to be outdated and in disrepair. The spaces, which always include a large theater or meeting room, are a challenge to reconfigure. To qualify for federal historic tax credits, a project must "preserve the building's historic character," says Brian Goeken, a National Park Service employee who manages tax incentives for historic-preservation projects. In the case of Masonic temples, that means the large open meeting hall can't be chopped up into smaller units.
On the other hand, since masonry is a central component of the origin of the Freemasons, the structures are also incredibly well built. Temples are meant to be "representations of Solomon's Temple," and are symbols of masculinity, says William Moore, an associate professor in Boston University's department of history of art and architecture and author of "Masonic Temples: Freemasonry, Ritual Architecture and Masculine Archetypes." Often there are extra flourishes and symbols incorporated into the architecture—a blazing star, an all-seeing eye and the Masons' best-known symbol, a square and compass and the letter "G," believed to stand for geometry and God.”
Real estate investing is EVERYWHERE in EVERY POSSIBLE FORM!!!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125