There is something beautiful about bringing a neglected and forgotten structure back to life — if we stop to consider it, it might even serve as a metaphor for what God is doing in our lives, both individually and collectively. And while renovating an old structure might be more cost effective than tearing it down and starting from scratch, it still isn’t cheap. Remember, this is a big renovation — while retaining the structure of the old building, it will feel like new when complete.
The total estimated cost of this project is $1,385,000. We are working with INEO throughout construction to trim 10% of that total cost, with the hope of bringing the total to $1,246,500.
We have secured a loan from Southern First for the amount of $750,000, and over the past 2 1/2 years we have budgeted our money conservatively to allow us to save for a project like this. Currently, we have $543,000 set aside in reserve. Our plan is to use $400,000 of that money on this project, leaving us approximately 3 months of our monthly budget in reserve (which is considered standard in most churches).
As you have noticed, demolition was completed on the building in January, and construction has begun. INEO has projected the work to take at least 8 months from the start of construction. Our hope is to be able to occupy the building by Thanksgiving of this year.