The story of LUTHER PLACE. St. Matthew Evangelical Lutheran Church Fredericton, NB

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1 The story of LUTHER PLACE St. Matthew Evangelical Lutheran Church Fredericton, NB

2 Once upon a time

3 ...there was a church.

4 It was a good church and was well-used. It was a welcoming place for people from all walks of life. The church ran a nursery school.

5 But as time went on it needed work. The nursery school stopped. The building was used only on Sundays. It was expensive to operate.

6 An idea was born...

7 An idea was born... Let's use the property for the benefit of the community!

8 Let's use the property for the benefit of the community! But How???

9 The brave new concept...

10 The brave new concept... To boldly go where no church has gone before

11 The brave new concept... Affordable Housing

12 The brave new concept... Affordable Housing...combined with a new worship centre

13 Could we do it?

14 Could we do it?...the congregation was small

15 Could we do it?...the congregation was small...financially in preservation mode

16 Could we do it?...the congregation was small...financially in preservation mode...but had a valuable property

17 Could we do it?...the congregation was small...financially in preservation mode...but had a valuable property and the right location.

18 Somehow... God brought together: the right people government funding an invitation from the Province of NB and City Hall

19 Feasibility 40 units 28 subsidized (1-BR) + 12 market (2-BR) = $56,000 annual surplus

20 Discussion......lots and lots of it

21 Prayer Guidance Faith

22 The vote...

23

24 Legal structure Separate non-profit housing corporation Lutherplace Apartments Inc. members = members of St. Matthew Lutheran Church board is separate from Church Council church finances not part of housing business plan housing surplus is available to be transferred to St. Matthew

25 Feb 18, 2008 Funding announcement

26 Revised plan: 45 units 45 subsidized (1 & 2-BR, 4 accessible) + 0 market = 0 vacancy Guaranteed rents for 10 years

27 Revised plan: 45 units 45 subsidized (1 & 2-BR, 4 accessible) + 0 market = 0 vacancy Guaranteed rents for 10 years Financing: $3.4 million million NB 5.5% 10 year term 30 year amortization

28 Revised plan: 45 units 45 subsidized (1 & 2-BR, 4 accessible) + 0 market = 0 vacancy Guaranteed rents for 10 years Financing: $3.4 million million NB 5.5% 10 year term 30 year amortization Cost to St. Matthew =

29 Revised plan: 45 units 45 subsidized (1 & 2-BR, 4 accessible) + 0 market = 0 vacancy Guaranteed rents for 10 years Financing: $3.4 million million NB 5.5% 10 year term 30 year amortization Cost to St. Matthew = $0 Equity = value of land

30 Healthy business plan Has to show a surplus

31 Healthy business plan Has to show a surplus Surplus is sufficient to pay pastor's salary

32 Construction

33 Construction

34 Construction

35 Construction

36

37

38

39

40

41 Dedication Palm Sunday 2009

42 Results: Attendance is up Residents attend church Able to attend to their needs Higher profile in the city

43 May 29, 2009 official opening + 99 million NB-Canada funding announcement

44

45 Advice: 1. Plan carefully Discuss everything fully and prayerfully 2. Have the right key person Project manager with infinite patience 3. Hire the right consultant Experience with govt funded projects essential 4. Expect the unexpected Complex project will have many twists 5. Never lose sight of your vision

46 News Articles Affordable Housing for Seniors Announced in Fredericton New Facility answers man's prayers The Little Church That Could More information Detlef Rudolph

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