Voters’ Meeting Update
June 2 Voters' Meeting Approves Building Renovation and Expansion
The congregation overwhelmingly (89%) voted to move forward with building renovation and expansion. A subsequent vote approved a spending ceiling of $15 million. Also approved was retaining Horizons Stewardship to provide fundraising guidance and support. (Our consultant, Craig Miller, has guided us through the two prior campaigns -- Holy Hearts, Wholly His and Making Mission Possible.) Holy Cross' line of credit to increase from $300,000 to $600,000 was approved at the voters' meeting.
Please continue to check our "blog" page on our website for progress updates on the project, including additional information on questions posed at the June 2 voters' meeting. If you have any comments, please contact Executive Director of Operations Henry Graf (739-6513 or hgraf@holycrossfw.org).
North Anthony Shopping Center Update
Another item approved at the June 2 meeting was to have Lutheran Church Extension Fund (LCEF) Real Estate Solutions (https://lcef.org/real-estate-solutions/) move forward with the next phase of due-diligence, feasibility and planning related to the future of the North Anthony Shopping Center (NASC), which is owned by Holy Cross, LLC.
We are blessed to work with Andy Hesterman who, in addition to being a Senior Director for LCEF Real Estate Solutions, also is a partner (member) of Holy Cross and an alumnus of our school. Here, in his words, is what is happening:
"In this next conceptual phase of planning, LCEF Real Estate Solutions plans to accomplish and provide a full range of feasible realistic options related to the North Anthony Shopping Center, which will explore and identify the following avenues for existing conditions and future feasibility:
Comp Study / Broker Price Opinion of Existing NASC: Complete a highlevel Broker Price Opinion (BPO) to inform HCLS what this current property is worth and what it could sell for in the current commercial real estate market.
Existing Deferred Maintenance Costs / Facility Needs Assessment: Add definition to identify, prioritize, qualify, and quantify scopes and costs associated with deferred maintenance of existing conditions.
Tenant Management and Property Management Strategies and Best Practices: Add definition on recommended strategy for future tenant engagements and property management.
Redevelopment Options: Explore various cost / design models and iterations to demolish (all or portions of) the existing shopping center and redevelop the property where HCLS will see ministry integration and significant financial kickback over time.
“Face Lift” Facility Improvement Options: Explore and identify estimated costs, timeline, and financial feasibility to give the North Anthony Center “facelift” and maximize healthy tenancy rather than demolish / redevelop the property.
Overall Campus Master Plan: Work with HCLS to explore a “maximized” site plan that best utilizes all existing extents of HCLS-owned property – and explore potential phasing and options to accomplish said campus plan over time to best inform overall HCLS Strategic Plan."