July 13 Building Update 056
“We’re Moving!” What??? When??? Where??? After several months of back and forth negotiations with Lennar, Ashley Ridge Church has sent a Letter of Intent to the developer and agreed to swap the 10 acres of church property on Summers Drive with 10 acres of land located adjacent to Ashley Ridge High School. This is contingent upon a ratified Purchase and Sale Agreement (PSA) and a 60 day Due Diligence period.
Also, the church has agreed to purchasing 2 additional acres at $60K per acre for a total of 12 acres. The new property off Delemar Highway (Hwy. 165) will be the future home base for Ashley Ridge Church in Summers Corner and the Summerville community. More to come on this dramatic development!
– Excerpt from BU 055 dated June 29, 2021
I wanted to give you a quick “Swap Update” on the above BIG Announcement which was made during the Family Meeting back on June 27th. If you missed it, you can still go and view this pivotal announcement on the Ashley Ridge YouTube channel or online. You can also go to the church website and read all the past Building Updates.
Since Ashley Ridge Church sent the Letter of Intent last month, Lennar, the developer, has ordered a boundary survey of the new site and has been working on the Purchase & Sale Agreement (PSA). The boundary survey and PSA are both needed for the church to perform its “due diligence” and, if everything checks out, to close on the property. The survey should be done on or about July 19th and a draft of the PSA should be received by the church later this week. Stay tuned for more exciting details!!!
Garrett Reuber, Ashley Ridge Finance Team Leader, is working hard on financing the cost of the new 22,600 square foot facility which will be made-up of Building Fund contributions, Operating Account margin and a bank construction loan.
SO, if you would like to make a contribution to the General Fund or Building Fund, you can do so here. Your continued support is what makes the new Ashley Ridge Church facility possible!
Derrick Horres, AR Building Project Leader