Sharing Spaces Update

January 7, 2024

Saint Michael and All Angels has engaged LeSar Development Consultants of San Diego to conduct an affordable housing development feasibility study. The firm will conduct market research to determine appropriate assumptions for rent levels and construction costs. A proforma financial model will show anticipated development budget, financing sources, project revenue, and long-term cash flow. Concluding analysis will include an estimated financial return to the Church. Having an independent assessment will be helpful in any subsequent negotiations with a developer. LeSar’s study is paid for by monies from the Blessings Fund gifted to St. Michael’s by Dori Rodi-Shryock.

LeSar has a growing relationship providing real estate consulting services for faith-based institutions and with the Episcopal Church specifically. LeSar recently entered into an agreement with the Episcopal Diocese of San Diego. In December, LeSar presented their scope of services to the Episcopal Bishops of Province 8. LeSar provides expert real estate advisory services focused on addressing needs and outcomes including strategic considerations, site assessments, and standardized processes for considering development of church properties.