Building Site Approved for Congregation’s Future Home
An excited crowd of members filled the sanctuary on Sunday, February 14 to vote on purchasing a piece of land for Adat Chaverim’s future synagogue. The property approved by the Board of Trustees consists of 5.1 acres located at the northwest corner of Lebanon Road and Batsford Drive in Frisco. It is located very close to the intersection of Independence and the Sam Rayburn Tollway, just about 4.2 miles north of our current location.
In his presentation to the congregation, Capital Campaign Committee member Howard Flushman recapped the in-depth research and activities leading up to the selection of this specific property. Members of the committee initially identified 64 potential sites between September 2014 – 2015. They focused on properties in the southeastern corner of Frisco with 5-6 acres. This list was winnowed down to eight options, then in December, the team targeted and entered negotiations on three building sites satisfying the established location, size and financial parameters.
At that point, site analyses conducted by our architectural firm, Landau|Zinder, assessed suitability of the three properties and various factors affecting design. In their evaluations, the property ultimately chosen was unanimously rated No. 1 on all of their criteria. These included access, usability, limited exposure to public view, and natural features within outside spaces to be used for worship and special events. In their review, the architects also noted auspicious symbolism: The shape of the property echoes the Hebrew letter shin.
All told, this particular building site fulfilled all imperatives in terms of availability, location and cost. In recapping the financial aspects of the contract, Howard stated that the purchase price of $1.92 million also offers significant appreciation potential.
After the congregational vote on February 14, Adat Chaverim took a big step towards the future when the contract on the land at Lebanon and Batsford was signed on Sunday, March 6.
An official sign stating that the land is under contract and will be the place for the future home of Adat Chaverim has been provided.
The sign is currently residing in the lobby but will be placed on the land in the near future.
The Capital Campaign Committee has been unified and restructured and is now led by Steve Jacobs and Terry Sigle.
David Goldstein remains as a honorary co-chair and Howard Flushman is now enthusiastically heading up Gifts and solicitations together with Meryl Fein.
The big questions are:
What is the status of the fundraising campaign?
How is the Capital Campaign doing?
What is the projected construction cost?:
Adat Chaverim is still in the earliest stages of designing the building with our architectural firm, so it’s too soon to know the actual building cost. The main goal is to build the synagogue and our first step is to purchase the land. Our architects have advised us that there are several ways we can control the cost of the building — not just through the design itself, but also by building in multiple phases to reduce capital needs up front. While we progress toward these decisions, please join in this process. We need help on all commit-tees, especially with Architecture and Program.
The Campaign has obtained pledges totaling nearly $1.3 million so far. This represents only about 25% of the membership, but because we’ve had a 95% pledge rate, we are confident that the Campaign will be able to raise a sufficient amount to fund the land purchase.
Fifty-two families have pledged a total of $1,291,277. Of these, 62% have begun fulfillment and four have fully paid! Right now we are meeting with 34 families, all of whom expressed an interest late last year and at Super Shabbat. We have a strong team of 12 solicitors who are meeting with these families.
Another new element of the Campaign is our Gathering of Friends. These are social gatherings hosted by campaign members to provide information and updates. We are conducting 10 of these currently. The goal is not to solicit a donation. Rather, it’s a way to get to know one another better, learn why Adat Chaverim is special to all of us, and talk about our shared future.
Stay tuned for more updates as we continue on our journey and march to our new home.
At a special congregation meeting on October 26th, the congregation voted unanimously to move forward with a loan to purchase the property.
At a special Board of Trustees meeting on October 30th, the Board voted unanimously to move forward with financing from Independent Bank for the purchase of the property.
A big thanks goes out to Lewis for shepherding this process for the financing. We aren’t done, but we can see the light at the end of the tunnel. If all goes well, we’ll be celebrating Steve’s signing the loan/closing papers sometime in mid to late January.
We are close to a $1,600,000 pledge level and $500,000 towards the purchase come January. Hats off to Howard, Meryl and the entire gifts team. But our work isn’t done here, we need to continue the solicitations with our end of year goal of $2,500,000.
Of course we wouldn’t be at this point without all aspects of the Capital Campaign Team. Looking forward to this newsletter update. It won’t be long when we start to ramp back up our discussions with the architect.
Now read on. . . In this issue, we hear from our congregants about the importance of giving to the Capital Campaign. And, in one case, how a donation came about in an unusual way.
We’re also keeping you updated on contributions toward our goal.
Exciting times! Thank you everyone!