Still no buyer for Trinity Lutheran Church property

Javelin Partners, which owns the former Trinity Lutheran Church property on Gaston at Loving, does not have a buyer after all.

Javelin couldn’t come to an agreement with Foresite Development, which had considered building 27 single-family homes and 17 three-story townhouses there. Those plans were scrapped last month, and we reported Javelin had a different buyer.

But the 3.25-acre property is still on the market, says Javelin’s Alan Naul. It is listed at $2.1 million.

It is difficult, if not impossible, for developers to get bank loans to build right now.

“We’re not in a big hurry,” Naul says. “We don’t have any debt on it, so we’re being patient.”

Here is the seller’s description (in real estate jargon) from Loopnet.com:

3.25 Acres zoned R75. Highest and best use would appear to be an up-zoning to R4 for patio type homes 2700+- sq ft master down for Boomers moving down. Seller will assist with the zoning change to the best of his ability. The neighborhood has high number of Baby Boomers that want to move down but stay in Lakewood, there is virtually no product.

Located in the Lakewood area at the corner of Clayton, Loving and Gaston. It is very close to White Rock Lake, Lakewood Coutry Club, White Rock YMCA, Whole Foods, and all of the restaurants and shooping in Lakewood Shopping Center and the Lower Greenville area, 5 minutes from downtown.


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