Looks like the St. Aloysius deal might have fell through.
Developers, religious groupsbuy up empty Catholic churches
By Jerome Boettcher
Posted Thursday, November 10, 2005
Schools, churches and car dealers ? that?s who is interested in snapping up for-sale Catholic churches in St. Louis city and county.
A number of parishes were consolidated in early summer, leaving the Archdiocese of St. Louis to sell 20 area churches along with surrounding land, which in many cases includes schools and rectories. Many of the deals, already agreed informally, will close this month. If all the properties reach their asking price, it would bring in $30 million to the archdiocese?s coffers.
Thomas Richter, the archdiocese?s director of building and real estate, said the archdiocese has been careful to listen to longtime residents? concern. ?We are working hard to make this work, to leave behind this positive legacy,? he said.
No central corridor properties were up for sale in this phase of the church?s downsizing, which concerns the South St. Louis Deanery and Northeast County Deanery.
Although the archdiocese has sold off properties before, this is the first time it has allowed them to be converted into residential space.
Central West End developer Pete Rothschild is buying St. Boniface church in south city to add to his extensive property portfolio. He plans to put apartments in at the location.
?The rectories are probably easier and for that reason they make more financial sense,? Rothschild said. But taking on a church building would be a ?bigger gamble? ? one that could be more rewarding ?both aesthetically and financially,? he said.
All the church properties were sold as packages so that developers could not cherry pick the best parts, Richter said.
As a result Rothschild has acquired St. Boniface?s rectory, which he plans to turn into apartments; a church that he would consider selling on; and a school building that will continue to house a St. Louis Charter Academies school.
Similarly Johnny Londoff, who owns a Chevrolet dealership in Florissant, has bought St. Fatima for extra land for his business. But he has little interest in the buildings and is negotiating with Lindenwood University and the city of Florissant, which might rent or buy some of the property from him, Richter said.
Rothschild?s appears to be the first church-to-residence to solidify.
Most of the buyers have been schools and other churches, Richter said. Although the price is as big an issue as it is in any sale, Richter said, the archdiocese has been willing to negotiate a lower price if the buyer is right.
The archdiocese has used two different systems to handle the sale of its excess property.
In North County, where there was no deadline for receiving bids, Hazelwood and Riverview Gardens school districts made offers as soon as the buildings came available, and Oasis of Love Church bought St. Pius X, while Zion Travelers Baptist purchased St. Catherine, bringing in $6 million to the archdiocese. Three churches ? Corpus Christi, St. Aloysius and St. William ? remain unsold.
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Developers, religious groupsbuy up empty Catholic churches
By Jerome Boettcher
Posted Thursday, November 10, 2005
Schools, churches and car dealers ? that?s who is interested in snapping up for-sale Catholic churches in St. Louis city and county.
A number of parishes were consolidated in early summer, leaving the Archdiocese of St. Louis to sell 20 area churches along with surrounding land, which in many cases includes schools and rectories. Many of the deals, already agreed informally, will close this month. If all the properties reach their asking price, it would bring in $30 million to the archdiocese?s coffers.
Thomas Richter, the archdiocese?s director of building and real estate, said the archdiocese has been careful to listen to longtime residents? concern. ?We are working hard to make this work, to leave behind this positive legacy,? he said.
No central corridor properties were up for sale in this phase of the church?s downsizing, which concerns the South St. Louis Deanery and Northeast County Deanery.
Although the archdiocese has sold off properties before, this is the first time it has allowed them to be converted into residential space.
Central West End developer Pete Rothschild is buying St. Boniface church in south city to add to his extensive property portfolio. He plans to put apartments in at the location.
?The rectories are probably easier and for that reason they make more financial sense,? Rothschild said. But taking on a church building would be a ?bigger gamble? ? one that could be more rewarding ?both aesthetically and financially,? he said.
All the church properties were sold as packages so that developers could not cherry pick the best parts, Richter said.
As a result Rothschild has acquired St. Boniface?s rectory, which he plans to turn into apartments; a church that he would consider selling on; and a school building that will continue to house a St. Louis Charter Academies school.
Similarly Johnny Londoff, who owns a Chevrolet dealership in Florissant, has bought St. Fatima for extra land for his business. But he has little interest in the buildings and is negotiating with Lindenwood University and the city of Florissant, which might rent or buy some of the property from him, Richter said.
Rothschild?s appears to be the first church-to-residence to solidify.
Most of the buyers have been schools and other churches, Richter said. Although the price is as big an issue as it is in any sale, Richter said, the archdiocese has been willing to negotiate a lower price if the buyer is right.
The archdiocese has used two different systems to handle the sale of its excess property.
In North County, where there was no deadline for receiving bids, Hazelwood and Riverview Gardens school districts made offers as soon as the buildings came available, and Oasis of Love Church bought St. Pius X, while Zion Travelers Baptist purchased St. Catherine, bringing in $6 million to the archdiocese. Three churches ? Corpus Christi, St. Aloysius and St. William ? remain unsold.
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