Churches redeveloping properties to give them new life
from The Wall Street Journal
Many churches have little choice but to sell because they’re in or near foreclosure, often because they’re struggling with declining membership and high maintenance costs. Other churches, however, are flourishing and selling their current facilities to move to larger ones elsewhere. Increasingly, as church leaders become more sophisticated, a third path has arisen: Teaming up with real-estate companies to redevelop their property to include mixed uses on the land. That strategy can increase revenue for the congregation while preserving the church facility.
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