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Timeshare Classic: Marriott and the Boston Custom House
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While timeshare has proven to be a good neighbor over the last thirty years, many communities still create strict regulatory requirements in an effort to block new timeshare developments. This has been a particular factor when it comes to explaining the dearth of vacation ownership projects in urban areas.
Perhaps more communities should look at the unique public/private partnership in Boston that preserved the landmark Customs House, turning a financial drain into a taxpaying asset. This is especially timely as San Francisco considers options for the long-vacant San Francisco Mint building, in need of almost $50 million in renovations.
Dedicated by Andrew Jackson in 1854, The Customs House was the place goods arriving at Boston Harbor by ship were inspected, and assessed for tariffs and taxes.
It ceased operations in 1985 and sat idle for nearly ten years. The landmark building continued to deteriorate while efforts were made to find the funds necessary for rehabilitation and renovation. Eventually, Marriott stepped in, acquiring the rights to the building in order to convert part of it to a Marriott Vacation Club property, home to the only timeshare units in Boston.
The original two-story structure was restored to its original condition, including the domed rotunda. The second floor catwalks used by the guards to patrol and observe the activities below have been restored as well. That space is currently open to the public, hosting displays by local museums. In 1999, the project was a National Preservation Awards winner.
The thirty-story clock tower now houses 84 timeshare condos. The four clocks crowning the tower were restored by descendants of the family that originally installed them.
Two Peregrine Falcons had taken roost in the tower during the time it sat vacant. Working with Bureau of Fish and Wildlife as well representatives of the Audubon Society, a new habitat was created nearby. Construction workers wore helmets with Hawk’s eyes, a falcon predator, painted on the back, in order to discourage the Falcons from re-occupying the roost.
What had been a financial drain now hosts about 30,000 tourist nights per year, generating business for restaurants, shops and museums throughout the region. Property taxes are paid, jobs created.
All in all, a pretty good outcome.
To Return to the San Francisco Mint story,
click here.
