Recently we made an announcement about an opportunity that we have to purchase some new land in North Calgary. We are excited about the opportunity to reach more people in Calgary and hope that you will join us in prayer as we navigate this process.
There’s a lot of ground to cover with many questions and lots of information. If you’d like to be a part of the discussion, please feel free to attend the next information meeting on February 18 from 4PM till 6PM.
Where is the land located?
Just off Deerfoot west on Country Hills Blvd. The street is not there yet, but it will be 11 St. NE. The land is on the north side as you enter the valley
How big is the land?
The parcel is planned to be 7 Acres. Size may change depending on roads and access
Who would we buying it from and when?
Melcor is the land developer. They plan to have it ready November 2018.
How much does it cost?
The land we hope to purchase is about 7 Acres. At $925,000.00 per Acre, the land could cost between $6 - 6.5 million depending on final size.
How will we pay for it?
We would sell the East Campus. The East Campus is worth about $3 million. We would have to raise the remaining $3.5 million, we will ask our congregation for pledges. These pledges would be paid over the next three years.
How will we finance the rest?
Our bank has said they would approve a loan. The PAOC has agreed to loan us any additional funds required.
What would we build? How much will it cost?
Our present building is about 30,000 square feet. We need approximately 50,000 square feet. Approximate cost is $11 million.