Preservation Professionals Learn in Newport
The first week of June was spent in Newport, RI by those preservation professionals taking part two of the historic real estate finance course offered by the National Trust for Historic Preservation and the National Development Council. This part of the training focuses on deal structuring and problem solving. As the training is progressive, students must attend part one, in which real estate finance topics such as underwriting, appraisals, cash flow, depreciation, passive income/loss, syndication and tax credits are covered; in order to attend part two. The 1772 Foundation provides support and oversight for the training as well as funding for 20 scholarships. Students were housed on the Salve Regina University campus, which borders on Newport’s famous Cliff Walk.
Several special events were arranged for after class hours. On Monday, June 2, students were invited to join members of the Newport Architectural Forum at the William Vareika Fine Arts Gallery for a gathering and welcome, followed by a short walking tour of Bellevue Avenue. Five landmark buildings by nationally recognized architects were featured on the tour: Travers Block (1872) by Richard Morris Hunt, The Newport Casino (1880) by McKim Mead & White, George Nobel Jones House (1841) by Richard Upjohn, Audrain Building (1903) by Bruce Price and Berkeley Villa/Bellevue House (1910) by Ogden Codman. Ron Fleming, owner of Bellevue House, hosted a garden tour and reception for which the group was joined by representatives from The Preservation Society of Newport County, the Providence Revolving Fund and The 1772 Foundation. On Wednesday, students enjoyed a special tour of Marble House, owned by The Preservation Society of Newport County, followed by a reception on its terrace, hosted by The 1772 Foundation.