Would you like to know more about the Vestrys decision regarding unused land on our campus? Read all about it: At its June 25 meeting, the St. James Vestry voted to place approximately two to three acres of church property on the market and begin outreach to potential buyers or development partners. This is the beginning of a process that the Vestry hopes will allow the parish (and the Diocese of Texas, which holds formal title to the land) to enter into a real estate transaction by years end and reduce St. James long-term debt burden. The land to be marketed is located at the southeast corner of the St. James property, fronting onto Tannehill Road and backing up to the water quality ponds on the south side of the St. James site. The exact acreage and configuration of the parcel to be marketed will be determined as we move forward in conversations with potential buyers or development partners. Currently, the land to be marketed is zoned for single-family housing, and the market for residential property in Austin is very strong, which makes this an opportune time to move forward. The total St. James site is approximately 21 acres, of which the current church and school campus occupies roughly 9 acres. This southeast corner of the site is not needed to accommodate the parishs growth as envisioned by the recently adopted Parish Master Plan, nor was this land earmarked for development in previous St. James campus plans. The Parish Master Plan envisions housing as an appropriate use for this land and a good neighbor to the St. James campus. It is still too early to tell what kind of housing would be most appropriate or viable in this market and whether St. James could be a partner in that development. The Vestry has no current preference for what type of transaction - sale, lease, or development agreement -may come forward. However, the Vestry and parish have identified reducing St. James outstanding debt as a priority that needs to be addressed and disposition of surplus land is an important way for us to address that critical need. There are other portions of the St. James site that could also be marketed in the future while still preserving enough land to meet the projected needs of the church, school and parish. Thank you all for your support and prayers as the Vestry has discerned its way forward through this significant occasion in the life of the parish. Please dont hesitate to come to us with your questions and concerns. Sincerely, The Rev. Lisa Saunders Scott Madison, Senior Warden Mike Clark-Madison, Chair of Master Plan Task Force and Vestry member
Posted on: Mon, 28 Jul 2014 14:30:00 +0000
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