The BC Conference of the United Church of Canada holds an extensive portfolio of properties located throughout the province.
In recent years, its congregations have experienced increased costs and liabilities due to changing demographics and aging facilities. As a result, BC Conference engaged CIC as part of their Property Resource Team to help Presbyteries, Congregations, and other ministries better manage their assets.
CIC’s scope of work includes undertaking redevelopment feasibility analyses, formulating business strategies, and creating asset management plans in an effort to develop mixed-use developments which will strengthen the ministries. Each site’s redevelopment program has been arrived at through a collaborative effort with CIC and the Property Resource Team.
The portfolio is currently forecasting more than 500 units of rental housing, across 5 projects, with total portfolio project costs of over $200 million. Three of the 5 projects have secured 100% construction financing via BC Housing.
CIC continues to provide ongoing advisory and analysis services, looking for new properties to add to the redevelopment portfolio.