Mark,
This is entirely doable. I have a RPC giving me my 240 3 ph. It is
wired into a 240V distribution panel and a transformer. The
transformer takes 240 3ph in and 480 3ph out. Then I go into a 480
distribution panel. The cost of the used transformer, panel and wiring
was about $300.

I had one piece of equipment that was impracical to convert to 240 from
480. The coils for the starter would have had to be changed,
everything else switched, so I wanted to run it on 480. 2 other lathes
were 480 only. I can run smaller wire and the large motors start
easier on high voltage.

This was especially proven to me on my air compressor. On 240 I could
not start it when cold. On 480, the compressor starts much easier and
faster.

Now I have the option to run most equipment and not have to worry about
converting.

Bob