found5dollar
Senior Member
- Joined
- Aug 27, 2007
- Messages
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I was stuck on the red-line shuttle bus this weekend at the corner of Mass ave and Beech st. and noticed some construction and a mock up of a wall out side St. James Episcopal Church. I did a little digging and found the following PDF's.
This one has some basic info:
http://www.stjames-cambridge.org/storage/capitalcampaign/CampaignBrochure_LR.pdf
This one has alot of renderings:
http://www.stjames-cambridge.org/storage/StJamesRedevelopment.pdf
Bloggy-type thing:
http://www.stjames-cambridge.org/property-redevelopment/
It looks like the plan is to tear down the carwash next door, and build a "70,000+ square foot building plus fully landscaped garden." The building will be condos with an underground garage and a few retail spaces, and a new parish house on the bottom floor from what i can tell. It is a relay interesting collaboration between a church and a development firm (in this case one called "Oaktree"). Oaktree gets to build a much bigger building than it could just using the carwash land, and according to one of the brochures the church gets "In addition to the new parish house, paid for by Oaktree, St. James’s will receive 30% of the profit after the sale of the condominiums. This money will help to jumpstart a new endowment whose sole purpose is the maintenance of the historic church building."
I'm really interested in seeing how this building turns out and if it works financially for all involved.
This one has some basic info:
http://www.stjames-cambridge.org/storage/capitalcampaign/CampaignBrochure_LR.pdf
This one has alot of renderings:
http://www.stjames-cambridge.org/storage/StJamesRedevelopment.pdf
Bloggy-type thing:
http://www.stjames-cambridge.org/property-redevelopment/
It looks like the plan is to tear down the carwash next door, and build a "70,000+ square foot building plus fully landscaped garden." The building will be condos with an underground garage and a few retail spaces, and a new parish house on the bottom floor from what i can tell. It is a relay interesting collaboration between a church and a development firm (in this case one called "Oaktree"). Oaktree gets to build a much bigger building than it could just using the carwash land, and according to one of the brochures the church gets "In addition to the new parish house, paid for by Oaktree, St. James’s will receive 30% of the profit after the sale of the condominiums. This money will help to jumpstart a new endowment whose sole purpose is the maintenance of the historic church building."
I'm really interested in seeing how this building turns out and if it works financially for all involved.