Trustees of LifeWay Christian Resources authorized the purchase of land and construction of a new corporate headquarters during their semiannual meeting Feb. 1-2 in Nashville, Tenn.
LifeWay Christian Resources will build a new headquarters just blocks away from its current campus in downtown Nashville, Tenn., which it recently sold for $125 million.
The Southern Baptist Convention publisher confirmed plans Feb. 4 to buy property in a 32-acre mixed-use development project called Capitol View, located on a former car dealership site in a downtown district known locally as North Gulch.
LifeWay officials told local media at a news conference Thursday the company will buy 2.7 acres in Capitol View, where it will build a 250,000 square foot building. About 800 employees will have dedicated workspaces at the new offices, while another 300 will either work remotely or from flexible workspaces inside the new building.
“We are very excited about LifeWay’s opportunity to remain in downtown Nashville, only a few blocks from our historic location, and the prospect of building LifeWay’s new 250,000 square foot headquarters building in Capitol View,” LifeWay President Thom Rainer said in a press release. “We are conducting our due diligence, and if all goes well, I am hopeful we will move into the new facility late next year, or in early 2018.”
Last summer LifeWay agreed to pay $12.7 million for downtown property owned by the Nashville’s Metro Development and Housing Agency but abandoned those plans in November saying it turned out not to be the best location for its headquarters.
The new property is five blocks north of LifeWay’s current campus with frontage on Interstate 40/65. Rainer told LifeWay trustees during Feb. 1-2 meetings the Capitol View development will be a great location for employees and provide convenient access to hotels, restaurants and meeting space for LifeWay visitors and conference attendees.
According to the Tennessean, the deal involves a $3.5 million financial commitment from Metro Nashville that would go toward infrastructure, sidewalks and street work around the new headquarters building.