[MassHistPres] Question re: ground lease

[John Thompson]

Looking at the building - and assuming bringing it up to current code would include:
ADA access
elevator
asbestos remediation
new windows
heating and cooling
sprinkler system
etc. 

16 million sounds a more reasonable number than 1.6.   Unfortunate but miserable cost of building these days.

John Thompson
Weston


>     On 01/12/2023 7:27 PM heartwood via MassHistPres <masshistpres at cs.umb.edu> wrote:
> 
> 
>     I too question the 16 million dollar price tag...1.6 million, maybe...
> 
>     it’s a beautiful building with history...
>     best of luck...
>     .....jade
> 
>     jade mortimer
>     heartwood window restoration
>     po box 114 1605 mohawk trail
>     charlemont, ma 01339
>     413-625-8680
> 
>     From: Garrett Laws via MassHistPres
>     Sent: Thursday, January 12, 2023 5:36 PM
>     To: Courtney Meyer
>     Cc: MassHistPres at cs.umb.edu
>     Subject: Re: [MassHistPres] Question re: ground lease
> 
>     $16M is a massive amount of money. What’s that cost based on and always remember that not ALL things are required to be done to “bring it up to code”.
> 
>     On Thursday, January 12, 2023, Courtney Meyer via MassHistPres <masshistpres at cs.umb.edu> wrote:
> 
>         > >         Hi all,
> > 
> >         I am the chair of the Russell School committee in Hadley, MA.  We are trying to save our beautiful 1894 Italianate Russell School building set in town center. (Photo attached.) The approximate cost to rehab and bring it up to code is in the $16 million range, which of course is prohibitive to the town.  In order to save the structure, we are considering the feasibility of selling it to a private investor with a preservation restriction in place, but the town will want to continue to own the land.  We are seeking some guidance on examples and stipulations around a ground lease, and/or use of deed provisions that has ownership of land be given back to the town if the building is destroyed and cannot be rebuilt per preservation restriction. Any insight would be appreciated.
> > 
> >         Thank you,
> > 
> >         Courtney Meyer
> >         Russell School Committee Chair
> >         Hadley, MA 01035
> > 
> >         --
> >         Today's Children, Tomorrow's World
> >         http://www.theglobalchild.org
> > 
> > 
> >     > 
>     --
> 
>     Many Thanks,
>     Garrett Laws
> 
>     http://www.copperandslate.net
> 
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