ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Wish To Own a Lighthouse? US Government Is Giving Away 6. But There's a Catch

The free lighthouses are in Massachusetts, Maine, Rhode Island, Connecticut, and Pennsylvania. 
UPDATED JUN 12, 2023
Cover Image Source: Pexels | Anand Dandekar
Cover Image Source: Pexels | Anand Dandekar

If you have been fascinated with lighthouses and love spending time there, now's your chance to own one. The US General Services Administration is offering six lighthouses to federal, state, or local government agencies, nonprofits, educational organizations, or other entities willing to maintain, preserve make them accessible to the public for recreational, educational, and cultural purposes, according to CNBC.

The free lighthouses are in Massachusetts, Maine, Rhode Island, Connecticut, and Pennsylvania. Four more lighthouses in Ohio, Connecticut, Michigan and New York will be sold in a public auction, the report added.

While the lighthouses are free, the new owners will be responsible for the maintenance of the lighthouse. They should be able to make them livable and will be required to pay property taxes.

John Kelly of GSA's office told TIME that because of the development of modern technology, including GPS, these massive structures are no longer useful for navigation. However, they remain tourist attractions.

"People appreciate the heroic role of the solitary lighthouse keeper,” Kelly told the publication. "They were the instruments to provide safe passage into some of these perilous harbors which afforded communities great opportunities for commerce, and they’re often located in prominent locations that offer breathtaking views."

Pexels | M e r v e
Pexels | M e r v e

The 52-year-old owner of an industrial painting service company, Richard Cuce, used most of his life savings to buy the Hopper Island Lighthouse in the Chesapeake Bay at a government auction for $192,000. He told CNBC that the renovation of the lighthouse is currently underway and he has plans to spend a whopping $1 million to restore it.

"It is truly a labor of love. I often wonder if the whole thing is a bad idea, but then I will have a good day that makes me think it will all be worthwhile," he told CNBC.

No, the GSA has been transferring ownership of lighthouses since the National Historic Lighthouse Prevention Act was passed in 2000. Since then, around 150 lighthouses have been transferred, out of which 80 were simply given away while others were auctioned.

Pexels | Steven Li
Pexels | Steven Li

The lighthouses up for sale include the 34-foot-tall Plymouth/Gurnet Light in Massachusetts that dates back to 1842. The second lighthouse is Warwick Neck Light, in Warwick, Rhode Island. The 51foot-tall lighthouse that dates to 1827 was an important navigation tool for mariners, as per The Guardian.

Other lighthouses include Lynde Point Lighthouse in Old Saybrook, Connecticut, Nobska Lighthouse in Falmouth, Massachusetts, Little Mark Island and Monument in Harpswell, Maine, and Erie Harbor North Pier Lighthouse in Pennsylvania.

“Some are already maintained by non-profits, and those agencies will have the opportunity to apply to continue doing so,” Kelly said. GSA also said that if a new owner of the lighthouse is not determined then it will be available for competitive bidding.



 

According to TIME, about 300 years ago on September 14, 1716, the Boston Light began shining its light, becoming America's first lighthouse. Since then more than 1,000 lighthouses were built along the country's coasts that welcome mariners from stranger lands.

1. West Point Lighthouse, Seattle, Washington - Located in Discovery Park, the lighthouse's beacons alternates between red and white every 5 seconds.

2. Heceta Head Lighthouse, Florence Oregon- Lit for the very first time in 1894, the lighthouse still stands tall on the coast of Oregon.

3. Pigeon Point Lighthouse, Pescadero, California- The lighthouse is equipped with a Vega marine rotating beacon and is currently under maintenance.

MORE ON MARKET REALIST
As president Trump pushes for measures to acquire the island, new poll shows Americans aren't sure.
10 hours ago
Trump said starting Feb. 1, his administration will block funds, but he didn't provide specifics.
15 hours ago
Harvey did not like the opinion about men that he heard from Maria.
16 hours ago
Harvey didn't hold back and even went on to name some of the top celebrities.
18 hours ago
Senior editor Charles C.W. Cooke said the cap could destroy the GOP's chances in the midterms
1 day ago
The proposed bill aims to tackle healthcare costs, and cut the federal deficit by $1 trillion.
1 day ago
As ACA benefits expire, the president claimed his framework would reduce drug prices dramatically.
1 day ago
Harvey could not believe that the contestant could say that with her family around.
1 day ago
The family aced three Fast Money rounds in a row to cash out big
1 day ago
The donors poured in millions to support the Trump affiliated super PAC MAGA Inc.
2 days ago
These reports come at a time when consumer sentiment seems to be improving.
2 days ago
The lawmakers called the probe 'coercive' demanding a congressional investigation into the DOJ.
2 days ago
The player bizarrely named "Jeopardy!" in a totally unrelated question.
2 days ago
Seacrest expressed that the player had no way of solving the puzzle with the clues on the board.
5 days ago
Harvey had to shut every contestant up who thought it was a good answer.
5 days ago
Citing affordability as the key issue, the president announced the cap will be rolled out on Jan 20.
5 days ago
The Jonassen family finally aced the Fast Money Round, after a wait of 43 years.
6 days ago
The CRFB estimates the plan would add $5.8 trillion to the national debt over a decade.
6 days ago
Big names like Costco, Reebok, Revlon, Ray Ban, and more have filed lawsuits seeking tariff refunds.
6 days ago