St. Austin Parish & School Case Study
St Austin Parish & School: Austin, TX
The St. Austin Catholic Parish and School project serves as a model for stewards of urban church land. The parish faced maintenance challenges and its facilities were poorly adapted to their current uses. Thanks to a partnership with a third-party developer, the parish was able to finance a new state-of-the-art facility. At the same time, it was able to create a revenue stream for itself, for the city of Austin, Texas, and for the diocese as a whole.
Key figures:
- $100+ million, 29-story, 423-unit student housing tower developed
- 1 acre parking lot owned by the diocese
- 99 year ground lease
- $44 million new K-8 Catholic school
- $30 million tax-exempt bank debt