what everyone’s looking for, but our niche was specifically finding buildings that had fallen out of use for one reason or another, oftentimes vacant or abandoned, that lent well to residential conversion. We looked for buildings with solid bones, in strong or growing residential markets, and with conducive layouts for apartments. What we found was surprising: These properties often sold for pennies on the dollar compared to their replacement values, and we were able to utilize what was already in place in a way that cut down on both the cost and timeline of redevelopment.” “We started off with that investment strategy,” he continues, “and, after a few years, that became our niche.” In recent years, the company’s investment strategy has become more defined. The Goldman Group now focuses on the redevelopment of buildings listed on the National Register of Historic Places, which is a database of properties throughout the United States that have been deemed worthy of preservation for their historical significance. In addition to the benefits mentioned above, properties on that list are entitled to substantial incentives from the federal government and sometimes state governments as well. “What’s amazing about this program,” Charles explained, “is that it allows us to take on incredibly unique projects that wouldn’t otherwise be financially feasible. Most of The Goldman Group’s projects are located in Massachusetts – though they have also done projects in New Jersey, Connecticut, and Rhode Island, and are currently considering projects in Maine. Most recently, The Goldman Group purchased the landmark and iconic AT&T Tower in St. Louis, Missouri. In response to the project in Missouri, Charles THE CONSTRUCTION SOURCE CANADA
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