WCG enters agreement to sell
Pasadena headquarters propertyFollowing is the text of a press release read by Pastor General Joseph Tkach to church employees Jan. 14.
PASADENA--The Worldwide Church of God today announced it has entered into an agreement to sell its east campus and west campus (headquarters) properties in Pasadena with Irvine, California, based Legacy Partners, a leading Western U.S. real estate developer.
According to Bernard Schnippert, treasurer and director of Finance &Planning, church officials have studied proposals from a number of interested parties, among whom Legacy Partners has emerged as the clear standout.
"We are confident that Legacy's approach is creatively balanced," said Schnippert. "They have shown genuine respect for the church and for the historical significance of its property and buildings, and for the intent and spirit of the recently adopted West Gateway Specific Plan."
The Pasadena City Council adopted the West Gateway Specific Plan in July 1998, following more than three years of study and public discussion by Pasadena city planners, outside planning experts and concerned citizens.
"The community consensus achieved through the Specific Plan will be our guide," said Legacy's Bill Shubin, partner at the firm, "and we intend to continue the community dialogue as our plans progress."
Legacy's preliminary plan embraces both campuses (about 50 acres in total area) and calls for preservation of the historically significant buildings--most notably the Ambassador Auditorium on the west campus. Legacy's selection of AC Martin Partners to design the project has served to reinforce the church's confidence in the overall quality of the approach.
The Los Angeles-based architectural firm has won widespread recognition, both locally and nationally, for its signature and historically significant projects--that is, those where existing structures are incorporated into new developments.
"AC Martin's track record clearly demonstrates it has both the forward and historical vision to design an award-winning project on this property and in this city," said Dennis Cavallari, senior vice president of Legacy Partners.
"We plan to build a first-class development that is guided by the Specific Plan, honors the rich heritage of the church, meets community-serving needs and is consistent with the character and scale of the surrounding residential community," said Cavallari. "Pasadena is a great community, and this property in particular presents everyone concerned will a world-class opportunity to build something of real significance--something of which we can all be proud."
The property, consisting of a western and eastern campus separated by a freeway, is accessible from the Ventura, Foothill and Pasadena freeways and from the Blue Line light rail line. The eastern portion of the property is located within a short walk of the Old Pasadena business district.
The Worldwide Church of God was established in 1933 and is active in 136 countries and territories. It has maintained its international headquarters in Pasadena, California, since 1947. Approximately 1,400 ordained ministers serve its members in some 850 congregations around the world.
Legacy Partners is a long-term owner, developer and manager of multifamily communities and commercial properties, including office, R&D, warehouse and distribution projects. The firm currently owns or manages more than 25,000 multifamily units and 38 million square feet of commercial space.
LA Times Link: http://www.latimes.com/HOME/BUSINESS/COMMRE/t000004551.1.html
If you have anything you would like to
submit to this site, or any comments,
email me at:
CLICK HERE FOR EMAIL ADDRESS.
Copyright
The content of this site, including but not limited to the text and images herein and their arrangement, are copyright (c) 1997-2000 by The Painful Truth All rights reserved.Do not duplicate, copy or redistribute in any form without the prior written consent.
