The Paint and Riggers Loft
World War II Rosie the Riveter Homefront National Park

Challenge

Current condition of the structure's interior

The National Park was eager to preserve one of the last remaining Kaiser Shipyard structures, the Paint and Riggers Loft, located at the Point Potrero Marine Terminal. However, the City of Richmond neither had the millions of dollars necessary for restoration, nor could it sell it to the MSH Group because of its status within the National Park boundaries.

Solution

MSH Group approached the financial community and determined that a 60-year ground lease would provide sufficient collateral for a construction loan.  Through this approach, the City of Richmond can preserve an important historical asset. In the future the facility will be returned to the City as an income producing asset in good condition.