The church of the Nazarene owns 152 properties in the Tri State Region of New York. Since 1999, IDA/MBREhasassistedthemwithevaluationandredevelopmentplans for their portfolio including converting their Times Square property, The Lambs Club, into a luxury hotel which has a ground lease paying $1 million / year for 100 years. The 3 churches shown above have all agreed to be redeveloped as new churches with 50‐100,000 sf of housing and retail space. IDA will be working with Kingdom Development to restructure these facilities into both market and affordable housing.