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Moody

Campus Redevelopment Update

03.15.2022

MBI Closes on Second Real Estate Parcels Sale

Dear Moody Family,

We are excited to share that Moody Bible Institute closed today on the second of several related real estate sale transactions involving the west of Wells property—another milestone in the long-range campus redevelopment plan launched in 2019.

The real estate parcels included in today’s transaction are the former Parking Lots B & L, along with the 917 & 919 N. Franklin buildings. These buildings were formerly used to support Moody’s media ministries and campus operations services. (see map below)

We are very grateful for God’s ongoing provision toward Moody and we recognize our responsibility to be wise stewards of all He has entrusted to us. Today’s transaction will generate approximately $15 million in net proceeds, adding to our strong financial position, and will be part of our strategic investments for growth as we continue to focus on our 2030 vision of doubling Moody’s impact for the Kingdom.

The former Parking Lot B, also known as 920 N Wells, will be the site of the first building constructed by JDL as part of the North Union development. Construction site preparation and mobilization will begin very soon. Our Facilities and Public Safety teams will provide more detailed information for everyone about possible road and sidewalk closures.

As a reminder, the final phase of the “North Union planned development” calls for the construction of a new athletic facility to replace Moody’s Solheim Center in the next few years. Until then, Solheim remains fully operational and available for Moody’s regular fitness and athletic use. Click here to read our FAQ and view our past announcements.

Thank you for continuing to pray for this important part of our 2030 vision.

Mark Jobe
President

Mark Wagner
COO

 

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