The business of buying and converting Philadelphia churches is a very controversial and interesting business, which many real estate investors profit from despite its taboo perception.
Creative Commons: Josh “Stephens City United Methodist Church”
The decline in size of church congregations in recent decades has left thousands of church buildings empty. Shrinking congregations find themselves unable to afford the upkeep of these large, expensive buildings. Others decide to build new churches that better fit their congregation’s needs. The result is more of these historic buildings, with more space, stone, and stained glass than most new construction, becoming available every year.
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Some industrious renovators have purchased churches to refurbish as homes with beautiful results. Some Philadelphia real estate developers are doing their best to save these buildings and give them new life.
Scott Brehmen of Main Line reBuild is coming up with creative and profitable solutions to revitalize these beautiful structures. He has created plans to refurbish one 1929 church building into condos that will sell for $495,000 to $1.1 million. While most developers would have demolished the site and started fresh, it is important to Brehmen to save the structure and its history. He has received quotes for razing the building from unsolicited sources, but continues his efforts undiscouraged. His vision for Narbeth Place will become a reality.
Creative Commons: Meagan “Philadelphia Churches”
Brehmen has cast his eyes to the next potential church project in Ardmore. The 1923 structure has the neighborhood features that he looks for with potential for popular condominium communities. Rather than paying thousands of dollars to demolish these huge stone buildings, Brehmen has found a way to save and restore them. While he admits that new construction would be less expensive, Brehmen is committed to creating something unique within these historic structures rather than tearing them down.
Alon Barzilay is another Philadelphia real estate developer who is attempting to save some of these historic churches from demolition. He has converted one Graduate Hospital neighborhood church into Sanctuary Lofts. While some will always be sad to see a house of worship converted into apartments or condominiums, most are happy to see the structure continue to remain as a part of the community landscape, since giving vacant buildings new life revitalizes the area.
Creative Common: Tabitha Kaylee Hawk “Church Church”
Each of these projects creates new housing that is quickly scooped up by buyers due to the uniqueness of the construction and the ideally chosen locations. A repurposed church condo is perfect for the person who is downsizing, and some of the buildings are equipped with elevators and underground parking for easy access.
If you want more information from a Philadelphia realtor on these beautiful, creative housing options, or want to see more traditional types of homes for sale in Philadelphia call AGENT LADY at 215-518-5193 or schedule an appointment.
Source: http://articles.philly.com/2014-08-04/business/52390668_1_churches-narberth-place-condos
About Agent Lady: Cherise Wynne is a leading real estate agent in Philadelphia, helping home buyers and sellers navigate the City of Brotherly Love, with a special focus on first time home buyers. To chat about getting started with your first time home buying experience, click here.
