Mount Vernon Proprietors was a real estate development syndicate operating in Boston, Massachusetts. Founded at the end of the 18th century, it developed land on the south slope of Beacon Hill into a desirable residential neighborhood.
Mount Vernon Proprietors
Industry
Real estate
Historyedit
In 1795 a syndicate formed by Harrison Gray Otis sought to speculate on land development around the newly formed government buildings on Boston's Beacon Hill. The Mount Vernon Proprietors, as the group was named, included founders Otis, Jonathan Mason, Joseph Woodward and Charles Ward Apthorp.[1] Membership in the Proprietors changed frequently but partners included Charles Bulfinch, Hepzibah Swan, Henry Jackson, Dr. Benjamin Joy, William Scollay.[2]
As probably the first organized real estate syndicate in early Federal period America, the Proprietors' contribution to real estate development formulated the model by which much of America was built.
The Proprietors purchased an 18.5-acre (75,000 m2) cow pasture for the total sum of $18,450 from the esteemed painter John Singleton Copley who was living in England at the time. The Copley tract comprised an area of Beacon Hill now bound by Beacon Street, Walnut Street and Mount Vernon Street and the area called Louisburg Square. After agreeing to the sale, Copley reconsidered the offer and tried unsuccessfully for ten years to break the sale contract.
Once the sale was upheld, architect Charles Bulfinch set out to pattern streets, design mansions, and create an elegant urban setting.
Houses associated with the Proprietors that survive to the present day include:
29A Chestnut Street. Built "on spec" by the Proprietors in 1799.
13, 15, 17 Chestnut Street. Built by Hepzibah Swan, 1804–1805.
The houses from 70 through 75 Beacon Street, Boston, opposite the Boston Public Garden, were built by the Mount Vernon Proprietors in 1828, on a speculative basis. They have a continuous granite facade. The architect was Asher Benjamin (1773–1845). According to a Harvard text on Beacon Hill architecture, #72's facade is unchanged and #73 retains its original brass-work on the front door. These houses are in addition to those listed above.
Referencesedit
^Samuel Eliot Morison. Harrison Gray Otis, 1765–1848: The Urbane Federalist. 1969; p.529.
^Allan Chamberlain. Beacon Hill: Its Ancient Pastures and Early Mansions. 1925.
January 01, 1970
mount, vernon, proprietors, real, estate, development, syndicate, operating, boston, massachusetts, founded, 18th, century, developed, land, south, slope, beacon, hill, into, desirable, residential, neighborhood, industryreal, estatehistory, editin, 1795, synd. Mount Vernon Proprietors was a real estate development syndicate operating in Boston Massachusetts Founded at the end of the 18th century it developed land on the south slope of Beacon Hill into a desirable residential neighborhood Mount Vernon ProprietorsIndustryReal estateHistory editIn 1795 a syndicate formed by Harrison Gray Otis sought to speculate on land development around the newly formed government buildings on Boston s Beacon Hill The Mount Vernon Proprietors as the group was named included founders Otis Jonathan Mason Joseph Woodward and Charles Ward Apthorp 1 Membership in the Proprietors changed frequently but partners included Charles Bulfinch Hepzibah Swan Henry Jackson Dr Benjamin Joy William Scollay 2 As probably the first organized real estate syndicate in early Federal period America the Proprietors contribution to real estate development formulated the model by which much of America was built The Proprietors purchased an 18 5 acre 75 000 m2 cow pasture for the total sum of 18 450 from the esteemed painter John Singleton Copley who was living in England at the time The Copley tract comprised an area of Beacon Hill now bound by Beacon Street Walnut Street and Mount Vernon Street and the area called Louisburg Square After agreeing to the sale Copley reconsidered the offer and tried unsuccessfully for ten years to break the sale contract Once the sale was upheld architect Charles Bulfinch set out to pattern streets design mansions and create an elegant urban setting Houses associated with the Proprietors that survive to the present day include 29A Chestnut Street Built on spec by the Proprietors in 1799 13 15 17 Chestnut Street Built by Hepzibah Swan 1804 1805 The houses from 70 through 75 Beacon Street Boston opposite the Boston Public Garden were built by the Mount Vernon Proprietors in 1828 on a speculative basis They have a continuous granite facade The architect was Asher Benjamin 1773 1845 According to a Harvard text on Beacon Hill architecture 72 s facade is unchanged and 73 retains its original brass work on the front door These houses are in addition to those listed above References edit Samuel Eliot Morison Harrison Gray Otis 1765 1848 The Urbane Federalist 1969 p 529 Allan Chamberlain Beacon Hill Its Ancient Pastures and Early Mansions 1925 Retrieved from https en wikipedia org w index php title Mount Vernon Proprietors amp oldid 1213829011, wikipedia, wiki, book, books, library,
