Lovells Restructure Queen Anne Mansion in $10 Million Effort to Stabilize its Future

by Rob Keys  on Monday, Oct. 29, 2012 11:51 am  

Steve and Lata Lovell poured seven years and about $10 million into restoring the Queen Anne Mansion, a museum-like model of 19th-century opulence.

Now the Lovells are looking for partners to help them take the Queen Anne into the next century.

“A hundred years from now,” Lata Lovell said, “we want this property to still be here.”

Through the formation of the Queen Anne Mansion Preservation Trust — and sales push launched in early October — the property is being marketed as a private residence club. It sits mere steps away from the entrance to Eureka Springs’ historic downtown district, and the Lovells’ idea is to find like-minded people looking for a second home or regular retreat.

The aim of the trust is eventually to consist of 84 equal ownership interests. The first 12 currently are available for $150,000 each.

Once 24 interests are sold, owners will have the right to reserve a minimum of 28 nights of annual usage in seven-night blocks. Additional nights will be allowed on a space-available basis.

The trust will be managed by an elected board of directors and run by professional management that reports to the board. The Lovells, who will own a single interest, believe the business model could become a template for preserving historic properties all over the nation.

More than that, though, they hope the model will preserve the storied estate they purchased in 2005.

“I just loved the property,” Steve Lovell said. “It was a heart thing. It wasn’t a business thing.”

 

House History

The Queen Anne originally was constructed in Carthage, Mo., in 1891. It was built by a decorated Civil War veteran and industrialist, Curtis Wright, who owned a furniture factory in Indiana. Reports indicate Wright used the promise of the Queen Anne to help convince his wife to make the move to Carthage, where he eventually became owner of a mine that supplied limestone blocks for buildings and homes throughout the state.

 

 

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