{"id":487,"date":"2015-11-15T16:44:35","date_gmt":"2015-11-15T16:44:35","guid":{"rendered":"http:\/\/www.developco.com\/development\/?p=487"},"modified":"2015-11-17T06:08:14","modified_gmt":"2015-11-17T06:08:14","slug":"crossroads-community-church","status":"publish","type":"post","link":"https:\/\/www.developco.com\/development\/crossroads-community-church\/","title":{"rendered":"Crossroads Community Church"},"content":{"rendered":"<p>Crossroads Community Church needed to obtain a larger worship facility because of continuing membership growth. Development Advisors\u00a0was challenged to make a small renovation budget stretch by acquiring an existing building to renovate. Developco\u00a0was able to obtain a higher than normal loan amount to carry the existing church property until it could be sold.<\/p>\n<h3>Assignment Highlights<\/h3>\n<ul>\n<li><a href=\"http:\/\/churchfacilitysolutions.com\/wp-content\/uploads\/2015\/10\/Lobby-380px.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-230\" src=\"http:\/\/churchfacilitysolutions.com\/wp-content\/uploads\/2015\/10\/Lobby-380px-300x205.jpg\" alt=\"Lobby-380px\" width=\"300\" height=\"205\" \/><\/a>Performed A to Z Services\u2014from Strategic Planning, Site Selection, Capital Campaign and Financing Representation, Team Selection, Design, Engineering, Construction Management, Furniture, Fixtures, and Equipment,\u00a0Outfitting, Move Management.<\/li>\n<li>Created pro-forma financial models showing ability to afford high debt resource. Orchestrated successful bond financing.<\/li>\n<li>Remained patient when this first choice targeted property (Burt Chrysler, Jeep) was taken off of the market.<\/li>\n<li>Negotiated an extended (six-month) due diligence period necessary to underwriting the bond financing. This required convincing Seller that a successful funding outcome would be accomplished. Bond financing, with the help of Share Financial, secured $5.8 million debt financing.<\/li>\n<li>Sold current church facility 2 years earlier than predicted.<\/li>\n<\/ul>\n<h3>Results<\/h3>\n<ul>\n<li>Crossroads was able to acquire a building three times larger than its previous church facility (from 15,000 SF to 45,000 SF) to accommodate its surging growth.<\/li>\n<li>Purchased a building constructed in 2005 for approximately 40% of its original appraised value.<\/li>\n<li>With only a $900,000 budget for renovations, Crossroads was able to construct necessary infrastructure to qualify for a change of use from an automotive sales and service building to a fully functioning church facility.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Crossroads Community Church needed to obtain a larger worship facility because of continuing membership growth. Church Facility Solutions was challenged to make a small renovation budget stretch by acquiring an existing building to renovate. CFS was able to obtain a higher than normal loan amount to carry the existing church property until it could be sold.<a class=\"more-link\" href=\"https:\/\/www.developco.com\/development\/crossroads-community-church\/\">&nbsp;Read More.<\/a><\/p>\n","protected":false},"author":3,"featured_media":483,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,2],"tags":[],"class_list":{"0":"post-487","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-church-and-nonprofit","8":"category-projects","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crossroads Community Church - Development Advisors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.developco.com\/development\/crossroads-community-church\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crossroads Community Church - Development Advisors\" \/>\n<meta property=\"og:description\" content=\"Crossroads Community Church needed to obtain a larger worship facility because of continuing membership growth. 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