| At a
historic meeting on Sunday, June 13 the congregation of Fourth Presbyterian
Church approved by a three-to-one margin the joint development proposal,
which includes the sale of air rights as one of the funding strategies
for Project Light.
The proposal, which like the Project Light vision, was the result
of a thorough, thoughtful and evolutionary process, was presented
to the congregation with the unanimous endorsement of the Session,
Board of Trustees and Project Light Leadership Team.

The new development provides an enhanced and
elegant backdrop to the church and offers an attractive architectural
addition to the neighborhood.
The joint development agreement with Edward R. James Partners and
OPUS North Corporation combines a low-rise church expansion with
a high-rise residential condominium tower. Edward R. James Partners
and OPUS North Corporation will build the church expansion according
to our specifications for cost credited against the air rights purchase
price. The church will sell them the necessary air rights for a
proposed $25 million.
For more information, contact the Project Light Leadership
Team at PLLeadership@fourthchurch.org. |