Windermere will sell property for development - Word&Way

Windermere will sell property for development

Roach — Windermere Baptist Conference Center will sell some property as part of its long-range strategic plan, board chairman Arthur Mallory clarified by phone on Dec. 2.

The center's master plan, developed at least five years ago, calls for selective development by private companies to construct residential and single family dwellings, condominiums and retirement housing options.

Mallory said details are still being worked out for sale of property as part of the development process.

“We hope people who buy will use Windermere as a place to volunteer,” Mallory said.

Windermere recently was able to restructure a loan for its Wilderness Creek project that reduced the center's debt from $21 million to $14 million.

The center's finances had slipped after a funding plan for Wilderness Creek fell through in 2002, after construction had already begun. Windermere was able to secure financing for the project's first phase in August 2003.

The delay in financing hampered projected facility use and projected budgets in 2003 and 2004. (12-07-05)