Parish Update on 8111 Douglas Ave Construction and Impact on Campus Experience
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Today we write to you with great news! Lincoln Property Company’s (LPC) 8111 Douglas building project is nearing completion – we can see the finish line just a few months away. The English proverb “good things come to those who wait” may not have biblical roots, but it certainly encapsulates our enthusiasm. We want to thank you all for patiently enduring the inconveniences of construction, as we know it hasn’t been easy or comfortable. Our new and improved shared spaces will be worth the wait, enhancing our parish experience.
Completing construction of LPC’s project brings several benefits to our weekly lives, including the renewed use of the north side of our campus and access to new parking amenities. As the LPC mixed-use development comes online, the expansive parking lot will be available for all to enjoy! The underground garage will provide significant new parking for us; more specific details to come. In addition to the two new buildings, one office and the other residential, the buildout includes more than 1.3 acres of outdoor green spaces, a restaurant, and a shared plaza that could be the eventual home of our award-winning Saint Michael’s Farmers Market.
In addition to the improvements to our campus, the LPC project represents something far more important to our parish: significant funding for long-term investment in our community. Several years ago, Saint Michael leadership created a structure to use the income from the LPC project to support our shared mission. We made the bold and brave decision to intentionally focus its usage in a way that would have the most impact beyond the walls of the church. By leasing this land, Saint Michael and All Angels is positioned to impact our community through substantial financial contributions to community partners beyond what we have done thus far.
How exactly will that happen? The land lease proceeds have established two funds held at our All Angels Foundation: The Horizon Outreach Fund and the Horizon Capital Fund. Each year, 15% of the total income received from the land lease will support the general church operating budget. Of the remaining 85% of the lease income, 60% will go into the Outreach Fund to support our missional impact in the community, and 40% will go into the Capital Fund to permanently endow our facilities. These permanent endowed funds will be managed and distributed based on the industry standard of 4% per year for their respective purposes. Over time, the Horizon Outreach Fund will generate millions in grants that will help impact systemic changes to some of our community’s most pervasive challenges. Saint Michael seeks to care for our neighbors in significant ways and is blessed to offer resources in such an impactful way.
We are so grateful to the Saint Michael leaders of the past who had the courage and vision to make the most of this opportunity, who did not seek to primarily ensure our own comforts, but rather sought to prioritize the strengthening and expansion of our mission and outreach impact in our greater community. We have much more to share about the final stretch of the project, so stay tuned for more details to come soon.
The Reverend Dr. Christopher D. Girata