South Australias Freemasons have announced they will establish a $60M benevolent trust following the sale of its eight retirement villages to Stockland for $75.8M. The deal delivers 980 homes and a development pipeline of 130 land units, or $77,400 per home with the land and community facilities kicked in. All but one village are located within 20 km of the CBD.
Most Worshipful Brother Stephen Michalak, the Grand Master of Freemasons SA/NT said Freemasonry revolves around a number of timeless principles such as truth, honour, kindness and support and the funds freed up through the sale of Masonic Homes will be directed towards advancing those principles.
We are also confident that by taking a more contemporary approach to delivering our charter, Freemasonry will attract new members with a shared commitment to our principles and a vision and drive to continue Freemasonrys ongoing relevance and service to South Australia.