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Joseph E. Weston '56 is a familiar name, but an elusive figure.
His name might ring a bell because it is the name that greets all who enter the Monsignor Tim Murphy Center on the ground floor in the Weston Commons. You've also seen the name accompany the Annual Appeal Challenge Match that is presented each year to our Ramily. Some of you may know him as a classmate, others as a friend.
But for those who don't know the old-school Portlander, the man in the infamous red, white, and blue tie, we did a little research and sat down to talk with the no-nonsense real estate developer and local philanthropist. Weston was recently recognized with an Elizabeth Ann Seton Award by the National Catholic Educational Association (NCEA) for his unwavering support of Catholic education.
Weston is probably best known in Portland as a real estate magnate. He is the sole proprietor of Weston Investment Company, LLC, which owns American Property Management. He is one of the city's most successful real estate investors with a portfolio that has included apartments, office space, industrial parks, and self-storage centers.
Over the years, Weston has remained rooted in his Catholic faith and the communities that shaped his early years. It is those communities that he now wants to help not only to survive but to thrive.
Joe, his twin brother John '56, and his older brother Jim '54 attended All Saints School in northeast Portland and continued their education here at Central Catholic. Joe's list of accomplishments in high school are few, under his senior year photo in The Scepter is his address, his grade school, and a single recognition for achieving Second Honors as a sophomore.
About his time in high school, Weston said, "I only got one award at Central and I went there for the four years. […] But I was very persistent, I just kept plugging. I never missed a day and I was never tardy and they recognized me for that. But they didn't recognize me for grades, believe me."
While he bluntly acknowledges that he was never very studious, Weston is sharp and quite a story-teller. As the story goes, Weston purchased his first property while he was still in high school. "I wasn't 18 because my mother had to sign. I bought it on contract." He rattles off the address of the duplex, which he still owns some 60 years later, proudly proclaiming that it's paid for.
What got Weston interested in real estate? Well, it was a monthly routine he observed as a soda jerk at Glisan Street Pharmacy as a young teen. He watched as people came in to pay their rent to his boss. "[…] They'd dump the money out of their pay envelope, and then have to dig in their billfold and pay more, and they could stay (another) 30 days. And I said, 'this is quite a deal.'"
His boss at the pharmacy encouraged Weston to attend college. Weston went down to Corvallis to take classes at Oregon State School of Pharmacy. However, he was not impressed to find a teaching assistant had taken over the class while the professor was on sabbatical. "So I dropped out. This ain't for me. I came back (to Portland) and I decided I'd start a real estate school. […] If I could keep a page ahead (of the students), I'd be okay."
The real estate school was located "just around the corner" from his family's home. "My mother would come over during the day classes and she'd help serve coffee at 10:30 in the morning, which I was very appreciative of."
In 1965, Weston decided to get into the building business. He came up with a rule though: "I wouldn't build anything more than three miles from my building." The logic being, any time one of his building projects had an issue, he could get there quickly to resolve it. Weston was still teaching classes at the time, so he said he would often spring a surprise quiz on students so he could slip out.
And as Weston puts it, he "just worked and worked and worked." He got married and started a family. When he and his wife adopted their first child in 1975, he decided to sell the real estate school.
His children, Jeffrey and Tiffany, are both Central Catholic grads, in 1994 and 1996, respectively. "The reason why I wanted them to go to Central is because Central represents the real world. You've got the rich and the poor, all different nationalities, this is what you are going to find out when you graduate and get out there."
Weston established the OCF Joseph E. Weston Public Foundation through The Oregon Community Foundation in 1990, which kick-started his charitable giving to schools and organizations all around the Portland Archdiocese via tuition assistance, endowment gifts, and matching grants. "I realized that I wanted to pass my wealth on to the less fortunate in the community."
It is in this passing-on of his wealth that he has stood out. Archbishop Alexander Sample and Bishop Peter Smith nominated Weston for the NCEA Elizabeth Ann Seton Award. The award is presented annually to exemplary individuals whose support and service impacts Catholic education and the well-being of the nation's youth. "Mr. Joe Weston is an ordinary man of his time who has done extraordinary things in Catholic education," said NCEA President Thomas W. Burford, D.Min at a ceremony in Washington D.C. honoring this year's recipients of the award.
Speaking about Mr. Weston, the Archbishop said, "Here is a man who came through the Catholic school system here in the Archdiocese of Portland, knows the value of a Catholic education, and wants to make sure everyone who comes after him gets that same opportunity. I am proud, and so are many schools and their students, to call Joe a friend and partner in ensuring quality Catholic education for the generations to come."
When it comes to giving, Weston believes in a three-pronged method. When accepting the Seton Award, he said, "Philanthropy is like a three-legged stool and all three legs must be equal and balanced for it to be profitable and for it to be successful. The first leg is that of the individual that is willing to share his assets and his funds to help. The second leg of the stool is that of people who give of their talent and time pro bono, for nothing or reduced cost. […] The third leg of the stool is volunteerism."
The rising costs of Catholic education concern Weston. "The cost for parents to send their children to Catholic school is high. They have to decide what they are going to do, what they are going to give up. The new car, the vacation, to send the children to receive Catholic education. When I talk to eighth graders or high school students I say, 'What I'm about to say to you will mean nothing to you until you're married and have a family, but I hope you will be willing to sacrifice, so that you can give your children a Catholic education."
Weston believes that it is essential for Catholic grade schools and high schools to build their endowment funds. Without growing their endowments, he warns there may be trouble ahead. "If things keep going the way they are now, the private schools won't be in existence. People can't afford to send the children to private schools." He hopes Catholic education won't become just for the elite. That is why he is advising others to remember their grade school and high schools in their wills, or to set up a fund or scholarship to help make Catholic education attainable for others.
In closing, we asked Mr. Weston what advice he would give to a graduating senior. He said, "Going to college is very, very important. Pick a good college and get a degree that means something. And buy low, sell high. You'll be okay."
CLICK HERE if you would like to make a gift to Central Catholic's Endowment Fund or contact Ellie Dir, Vice President of Advancement, at 503-230-1056 x1258 ext. 1258.