St.Paul's United Church

 Updated Property Development Profile (October 2011)

 

August 15, 2010
Dear St. Paul’s member,

Please find attached our development project profile; a summary and milestone of the feasibility work accomplished as a part of our church’s vision quest.

The project profile will allow us to present to the public, the municipality, associates, and development professionals what we at St. Paul’s consider the most important aspects of our vision and mission.  It is a conclusive report representing our feasibility phase.

Our next step we call the pre-development phase; a series of tasks to investigate and determine answers to critical questions before we commit to proceeding with the development and before building a new church.  The pre-development work is governed by a steering committee and led by project manager, Rob Couch.  The committee meets weekly and will spend the next three months creating a development report for the congregation.  Open communication is the key to the committee success and everyone is encouraged and welcome to table their ideas, concerns, and comments.  The committee will be issuing a progress bulletin twice per month along with updates on our web-site.  After the report is complete a series of discussions will be held and then a congregational vote will take place and determine our next step in the vision quest.

The essence of the report will be the cumulative findings from three areas of investigation:

Design development – this includes zoning and municipal by-laws, parking requirements and feasibility, building sizing and site massing, along with amenity definitions.  Also included under design development will be environmental study, site survey, and site geo-technical reports.

Market Study and Plan – this includes past and current real estate market values and trends, demographic study, life-lease, rental, and sales market evaluations.  The key function of this component of the study is to determine the best value and best target market for the housing component and lease component of our concept. The study will also implement a marketing and promotional plan.

Financial Strategy – financial strategy will include project proforma investigations.  The key studies will be confirming soft and hard costs as well as availability and costs of short term (construction) financing and long term mortgage financing.  The study will also key on tax implications for all aspects of the development and determine funding sources and availability.  This work will produce a development financial plan.

As you can imagine, each aspect of the development report will help determine the feasibility and inherent risk value before we proceed with any further project work.  Your participation is important to the project, particularly during this phase.  The new church will evolve from our ideas in conjunction with the building, financial and market limitations.

On behalf of the steering committee we look forward to hearing from you,


Linda Hutchinson

St. Paul’s Board Chairperson