Faith In Real Estate: Churches Sell Development Rights For Millions

Churches in New York, Chicago, and Washington, D.C, are selling land and air development rights to provide major funding for outreach programs.

1 minute read

May 2, 2006, 11:00 AM PDT

By maryereynolds

Across the country, developers buy underutilized land or air rights from urban churches. New York's Christ Church will use $30 million from developers to support its ministry including a public school in the South Bronx. Chicago's Fourth Presbyterian Church hopes to close a real estate deal for $25 million to support tutoring programs, care for the elderly, and outreach to housing projects. In Washington, D.C., Rev. Donna Claycomb hopes to sell two classroom buildings in the heart of downtown. "I'm a new pastor, and it's been Real Estate Development 101 from day one," she says.

FULL STORY: The Sky's the Limit

Saturday, April 29, 2006 in The Washington Post

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