Title: New developer to convert Missions Building into senior housing
Date: August 20, 1997
Disciples News Service
Christian Church (Disciples of Christ)
Contact: news@cm.disciples.org
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INDIANAPOLIS (DNS) -- A new agreement with an Indianapolis-based developer could mean that the former Missions Building will be converted to senior housing after all.
This is good news for the Christian Church (Disciples of Christ), which owns the office building. A similar proposal initiated two years ago by the Retirement Housing Foundation, Long Beach, Calif., failed to move forward.
Mansur Real Estate Services, Inc., is slated to take on the redevelopment project on Indianapolis' east side. The Christian Church (Disciples of Christ) vacated the 121,000-square-foot facility in 1995 to move downtown.
Under the proposal, the building would be adapted into approximately 80 apartments for adults 55 and over. Architects Browning, Day, Mullins & Dierdorf of Indianapolis will design the new facility.
The church will retain ownership of the property through completion of the construction project, said the Rev. Ryan D. Hazen, general manager of Christian Church Services. This arrangement will allow Mansur, Inc. to pursue tax credits for the venture.
Both parties are hopeful that tax credits will be granted during a November round of awards. If successful, construction could begin in early spring. The new building would be ready for occupancy in approximately nine to 12 months.
If the November application is denied, Mansur and CCS are prepared to try again in April. This would push the construction start-up back to early summer. Again, the building would be ready for occupancy within nine months to a year.
The entire project depends on obtaining the tax credits, said Hazen. In the meantime, the Disciples will continue taking care of basic building maintenance for the vacant structure.
Both the church and the Irvington neighborhood can feel good about the proposed housing project, according to Hazen. For one, "we have been able to restore a building in Irvington that the residents and we (the church) can be proud of."
Another reason involves the stewardship issues for the church and community. "It's a good use of the facility in a neighborhood that needs it." In addition, preserving the building for future use will save the church money currently spent maintaining a vacant building. The alternative is tearing the building down, an expensive proposition that will cost from $500,000 to $1 million.
Mansur Real Estate, Inc., is one of the largest and most experienced developers of historic properties in the Midwest, Hazen said. The company's most recent projects involve successful conversions of department stores in South Bend and Chattanooga, Tenn., an Elkhart hotel and a St. Louis hospital.
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