Project 125 

The building complex that was known as St. Mary School is aging rapidly and has become a financial burden to upkeep and maintain.  With thirteen different level changes and not being ADA accessible the current layout does not allow for the development of new ministries and outreach efforts. 

Raising millions of dollars to build a new structure is the normal paradigm, but how does a parish with a limited income base maintain the structure once it is built?   

The experience of leasing our building led to the creation of a new plan.

· Construct a new building that would include a school, community center and gym for parish use.

· Place additional floors above the parish space for leasing to a tenant who would be a compatible partner with the Catholic Church.

Investigating this idea led to a partnership with Institutional Project Management (IPM).  

IPM did an initial feasibility study and recommended a continuing care center with the first two floors devoted to parish use.  Under this concept, the not-for-profit corporation would lease air rights above the first two floors from the Archdiocese and construct a continuing care center.  Under the proposal, financing of the parish floors and the continuing care center floors would be paid for from bonds issued by the lessee. 

We were making steady progress until the economic downturn.  We are hopeful that once the economy recovers we will make further progress and keep everyone updated.

IPM and St. Mary are still very hopeful of restarting the project envisioning different possibilities.  As these ideas develop we will keep everyone apprised.