Real Estate Development Strategy | Benevolent and Protective Order of Elks

Challenge

The Denver Elks Lodge No. 17 has been operating in an older facility and desired to update their building, increase their revenue stream, and draw in new members while contributing to their organization’s goals and initiatives.

Approach

The Denver Elks Lodge hired Trestle to pursue the possibilities of enhancing their community presence through an evaluation of their real estate asset. Trestle researched existing city zoning code possibilities to understand the realm of possibility, met with other Elks Lodges across the county to understand their decision making processes, successes, and outcomes when undertaking a large facility remodel project, and met with multiple developers to understand to understand existing conditions and financial requirements.

Result

After communications with multiple developers, a unique multi-story redevelopment opportunity was presented to the Denver Elks organization involving a new Elks Lodge with multiple stories of affordable housing units. The deal was to place on a long-term ground lease scenario; however, a deal between the Elks and the developer did not take place.