LifeWay Christian Resources is planning to build a new facility, and recently entered into a contract for the sale of their main campus in downtown Nashville.
LifeWay President and CEO Thom S. Rainer said he is excited about the prospects for the property as well as LifeWay’s future.
“Although the buyers are still finalizing a master plan for the site, I understand their intention is for it to be a mixed-use development including office, retail, residential, entertainment, and hotel,” Rainer reported, according to LifeWay.
“And, the sale – when completed this summer – will provide the resources for LifeWay to build a new facility, hopefully in downtown Nashville, that will support the technologies, collaboration, and culture needed for today’s and tomorrow’s successful national and international ministry,” he added.
In February, LifeWay’s trustees voted to authorize LifeWay’s administration to sell the Nashville campus or a portion of the campus, stipulating that the sale would allow LifeWay to build a new facility designed specifically for its ministries now and in the future.
Rainer said there were multiple offers to buy the property.
LifeWay has previously acknowledged that after a sale is closed, they will lease back a portion of the facilities until a new building is finished. The contract LifeWay has entered into is with Uptown Nashville, LLC, a consortium of local and national developers formed specifically to develop the campus.
By NRB Staff
Published: April 30, 2015