09-27-2021, 11:49 AM
(09-25-2021, 11:50 PM)nms Wrote: I wonder if there would be an option for the church to sell condos with the caveat that they be resold to the church at a fixed price in order to keep them somewhat affordable. I would wonder if the church hadn't worked out an arrangement to keep some of the condos in church hands which would mean that they could be used as affordable rental units.
My wife grew up in St. Philips church on Woodhaven. They had excess land, and it was sold to a developer for the purposes of being a retirement home that was to be called St. Philips Place. The developer re-sold the land to another developer who built for profit houses. I'm sure it was a breach of contract, but the church didn't have the funds to sue, even if that was a possibility.
Its one of the reasons we sold the St. Marks property to a group that only does affordable housing, despite the fact we likely could of got more selling to a condo developer. The lawyers confirmed that once you sold the land, you have no say in what happens there.
Coke