$4.5 Million for a Denomination’s Headquarters: The United Church of Christ Sells Its Cleveland Tower for Apartments

• The United Church of Christ sold its nine-storey headquarters at 700 Prospect Avenue, Cleveland, for $4.5 million.
• The buyer, K&D Properties of Willoughby, Ohio, plans about 120 apartments renting for $1,100 to $1,200 a month, with retail on the ground floor.
• The UCC moved to leased space on the 11th floor of 1300 E. 9th Street.
• The denomination wanted to spend more on mission and people and less on property.

A national Protestant denomination has sold its headquarters building to become apartments. The United Church of Christ announced that the sale of its Cleveland building was complete.

The nine-storey building at 700 Prospect Avenue in downtown Cleveland sold for $4.5 million to K&D Properties of Willoughby, Ohio. The sale was completed on May 31, 2022. K&D plans to convert it into about 120 apartments of around 550 square feet, renting for $1,100 to $1,200 a month, with retail space on the first floor.

The UCC moved to leased offices on the 11th floor of 1300 E. 9th Street, Suite 1100, and expected an occupancy permit in July 2022. The church said it wanted to redirect resources toward mission and personnel rather than property maintenance, and to cut expenses and its carbon footprint with a smaller leased space.

General Minister and President John Dorhauer said: “This has been a long journey, and we are anxious to move into a new space that will better equip us for 21st-century success.” K&D chief executive Doug Price said the apartments would be priced so that “they’re a lot more affordable”, and said: “It will look substantially the same as it does now on the outside.”

Owning a large office building can tie up a church body’s money and staff time. By selling and leasing a smaller space, the UCC turned a building into cash and cut its running costs, while the buyer turned offices into homes. Jamaican denominations and church bodies with large head offices should review whether owning is still the best option, or whether selling or letting part of a building and leasing smaller space would free money for ministry. Offices in town centres can also be converted into housing, which may suit investors.

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