Miami Beach Community Church
The board of the Miami Beach Community Church could generate $100 million by leasing some of its historic property to a developer.
Tristar Capital wants to construct a mixed-use building on the church’s courtyard facing the Lincoln Road Mall, the Miami Herald reported. The Board of Directors at the church has chosen Tristar’s plan after listening to different offers over the last six months. The church’s congregation is expected to vote on whether to give Tristar a 50-year lease of the property after this Sunday’s services.
The city would also have to sign off on any development on the historic property. Church officials say a $30,000 per month deficit could force them to close the oldest house of worship in Miami Beach if it does not move forward with the Tristar lease. [Miami Herald] — Eric Kalis
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/xb4As9xQDSA/
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