Lease

The United Methodist Church sold Baltimore’s 153-year-old Mount Vernon Place church for $500,000 to a local nonprofit, which leases space back to the congregation for $100 a year and plans an $8 million-plus restoration.

Aurora’s Mountain View United Church leased two vacant acres to Habitat for Humanity for 99 years for 10 duplexes selling at about $350,000 a home, after a rezoning fight that took until 2021.

A Tongan Free Wesleyan congregation in Timaru leased, then in 2017 bought, the former St Peter’s Anglican Church, and used a $500,000 government grant for earthquake strengthening, safety work and upgrades.

The United Church of Christ sold its nine-storey Cleveland headquarters for $4.5 million to a developer planning about 120 apartments, and moved to smaller leased offices to spend more on mission.

In a UM News commentary, church real estate consultant Rick Reinhard warned that United Methodist congregations’ property was eating away at the denomination and urged a strategy of data, analysis and options from leasing to redevelopment.

A north coast beach never turned a profit for decades under successive operators. A competitive 2015 tender brought in a new lessee, with the contractor general confirming the process was properly run.

The Greek Orthodox Church, Israel’s second-biggest landowner, sold land near Jaffa’s clock tower, 700 dunams in Caesarea for $1 million and leasehold land under 1,500 Jerusalem homes, the Times of Israel reported.

Fredericton’s Anglican diocese weighed selling two properties beside Christ Church Cathedral and building a multi-storey block with condos or rentals under a 40-year lease, warning that sale cash is often only a quick fix.