Churches, synagogues and other religious organizations sitting on increasingly valuable parcels of land are giving in to development pressure to help meet costs.
"It's hard to beat the location: just steps from the nation's oldest public park, around the corner from the gold-domed State House, and a stone's throw from the financial district...But the interest in the Tremont Temple - worth $9.5 million as is, according to city assessors - illustrates the potential financial bonanza for churches, synagogues and other religious organizations sitting on increasingly valuable parcels of land." Several organizations in Boston have recently cashed in their property rights, but not without sparking controversy.
Thanks to Christian Peralta
FULL STORY: Real estate boom leaves churches worth millions
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research