NASHVILLE, Tenn. (WKRN) – First Baptist Church of Nashville sold some of its property for $20 million, WKRN reports.
“Twenty-million for us was a sense of God’s blessing for the patience that our congregation had really experienced during the whole negotiation process,” said Dr. Frank Lewis, Senior Pastor of First Baptist Church of Nashville.
The 1.3-acre site was once home to the Nashville Rescue Mission and later other nonprofit organizations. Now, it sets a new record price for development land in Nashville.
The half a block between Seventh and Eighth Ave located at 710 Demonbreun Street is prime real estate. Dr. Lewis said 86 percent of the congregation voted in favor of selling the property. They say the plan on how they will spend some of the money is in motion. Dr. Lewis expects construction to start this year on the first phase of the church’s campus redevelopment master plan.
Developers and investors who purchased the property will turn the site into two new hotels.