Turnstone Ventures, a vertically-integrated real estate investment first led by seasoned Boston-based developer Jeff Glew, has acquired the historic 50-key The Shire Woodstock in Woodstock, VT. Turnstone has hired New York-based Life House Hotels, signaling the tech-enabled hotel operator’s first hotel in Vermont and 20th hotel in New England.
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The village of Woodstock, Vermont was chartered in 1761, 15 years before the United States of America signed the Declaration of Independence. Later designated as the Shire Town of Windsor County in 1786, Woodstock became a hub for entrepreneurs, appealing to some of Vermont’s earliest manufacturers, craftsmen, and artisans, and quickly became one of the largest towns in the state.
Originally built in 1963, The Shire Woodstock pays homage to the town’s namesake, with the property offering a year-round retreat on the banks of the Ottauquechee River with waterfront views from each oversized guestroom. Given its central location in the heart of the Village of Woodstock, The Shire Woodstock delivers a pedestrian-friendly experience with walkability the town’s local restaurants, boutique artisan shops, and eclectic galleries, with an array of four-season outdoor activities within a short drive from the property.
“We are honored for the opportunity to steward The Shire Woodstock, one of the most prominent assets in the high-barrier-to-entry town of Woodstock”, said Jeff Glew, Managing Partner at Turnstone Ventures. “We look forward to working with Life House on a restoration project that will honor the property’s history while enhancing the experience for future visitors to Southern Vermont”.
The property will operate “as-is” under its existing branding prior being reimagined as a locally-rooted boutique hotel that will feature elevated interiors and enhanced public space programming.
“We are thrilled to announce Life House’s first project in Southern Vermont”, said Bryan Dunn, Managing Director at Life House. “We believe the Green Mountains region is underserved by sophisticated independent hotel operators and look forward to expanding our presence to include additional unique and historic properties”.
The transaction was marketed by Earle Wason and Joe Cardillo of Wason & Associates, an experienced hospitality real estate brokerage group located in Portsmouth, NH.