The skyline of old Atlanta was marked by church steeples, a testament to a different, more pious time. While the dominance of churches has waned in recent years, the prime land they hold is now becoming a major factor in the growth of Atlanta.
St. Mark’s United Methodist Church, which has stood at the southeast corner of Peachtree and 5th streets since the early 1900s, is the latest in a slew of churches to offer heavenly located real estate up for sale.
The Atlanta Business Chronicle reports the congregation is looking to offload land at nearly $4 million an acre. Holy moly!
The historic sanctuary — which sits across the street from the nearly completed Trace apartments — isn’t going anywhere, but two homes owned by the church, a parking lot, and possibly the church’s education wing could be demolished to make way for a mixed-use development, the newspaper reports.
While the assemblage isn’t huge, indications are that surrounding property owners are also interested in selling, meaning a potential buyer could get control of nearly three acres.
And with allegedly no height restriction, and a design for a mixed-use 27-story building already done for the site, a high-rise seems likely.
- Midtown church puts prime property on the market [Atlanta Business Chronicle]
- Another Atlanta church ponders forking over property for development [Curbed]