Crossroads Bible Church: Land Development with a Subdivision
If you have Google Earth, type in Crossroads Bible Church, Flower Mound, Texas and their campus will come right up. When Crossroad’s staff first contacted me, they had a smaller church building down the road about a mile or so. They asked me to take a look at that property and do an extensive remodel and expansion to it. When we finished our Strategic Ministry Plan we faced a challenge. When looking at the fast population growth of the area, it was clear that if we added on and remodeled their existing building, they would outgrow it quickly. And they would have an asset that would be difficult to sell. Rather than doing that, we started looking for a new piece of property.
We found sixty-five acres on the corner of Chinn Chapel and FM407 in the Flower Mound area. We were able to purchase the property and then we did some fun things. We took the corner of the property, which is right on Chinn Chapel and FM407 (you’ll see this on Google Earth) and subdivided about fifteen acres off the corner. It was the most valuable part of the property, considering the cost per acre. It was much more valuable than the rest of the land.
We were able to subdivide that into commercial lots and sell off quite a few of them. (On Google Earth you can see how they were developed.) Some of the property pieces were purchased by a group of church members who formed an organization and built a mini storage, storage for boats and RV’s. The idea behind it was to operate the business as a for-profit-business, and then donate the profits from it to cover the mortgage, the insurance and utility bills for the church. By selling the parcels, the church was able to get sixty five acres for free, because the land we sold as small commercial lots paid for the rest of the property. In developing a separate corporation to do the mini storage, we were able to build a financial engine that would cover the mortgage payment, utilities and interest. Can you get a better deal when building a new facility than free land with the mortgage, insurance and utilities paid for?
Let us help you look for land for your new church campus or help you get out of temporary facilities. Maybe you have outgrown the building you are in and need to relocate, but are concerned about how you can afford to do make the move. There are a lot of creative ways we can help you acquire property and to get into the facilities you need in order to continue impacting your community with the Gospel. We will show you how to do it without incurring the debt normally associated with new construction or tenant improvements.
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