When the price is right, churches are selling property to advance ministry
Churches being wooed by developers are seeing opportunities to expand ministries and facilities with lucrative real estate deals.
By Jeff Brumley
Selling all or portions of property is nothing new for downtown churches. It’s been a practice for decades, necessitated by demographic shifts and urban sprawl, aging congregations or denominational decline.
But for some, it’s the money generated by being located on what has become, in some cities, prime downtown or suburban real estate. Locations once ideal for worship have become ground zero for hip restaurant and nightclub districts, commercial zones, hotels, condominiums and sports complexes.
“In urban areas of high population concentrations, when land is scarce, it’s very much an option,” said George Bullard, a church consultant and president of The Columbia Partnership. “Developers are looking at anything and everything.”
And the payoffs for facilities and ministries expansion can be huge.
To read more, go to the Associated Baptist Press website. Here is the link>>>