(PRWEB) December 8, 2004
Pastor David Montgomery, Sr of Restoration Temple Church of Houston, Texas announced the completion of the final round of funding for the development of the ChurchÂs new community center. By leveraging the equity of the 19,000+ sq ft church and 7,500 sq ft office/conference center already completed on the property, Pastor Montgomery was able to arrange for a $900,000 bridge loan. Avatar Financial Group, a Seattle based commercial lender provided funding for the project. The funds will be used to complete a 200,000 sq ft Community Center.
Avatar Financial GroupÂs president, TR Hazelrigg noted that the church, which opened in early 2003, demonstrates excellent craftsmanship throughout. ÂWe were pleased to be able to help Pastor Montgomery and the Restoration Temple with this loan. It was truly a win-win situation for all concerned,Â said Hazelrigg. ÂThe loan was based on the value of the good quality, existing properties, which made it a good loan for us. And the proceeds will enable the church to construct an important community asset.Â
Concrete has been poured for the Community Center and construction will commence shortly. The community center will include a 3,000 seat auditorium, a coffee/snack bar, formal dining hall, 60 classrooms for school and after-school programs, as well as athletic center with two full court gymnasiums, four bowling lanes, physical fitness center for weight training, aerobics room and more. Outdoors, a combination football / baseball field and a track for youth sports will grace the site. All people in the community will be welcome.
ÂThis is just Phase I,Â asserts Reverend Montgomery. ÂWe look forward to working with Avatar on future projects, which will include an assisted living center, three story professional office building and a 70-home gated community, already being platted. We are also working on a retail commercial center to compliment the gated community and are in discussion with DennyÂs, Taco Bell, KFC and others.Â
Pastor Montgomery and his wife have donated over $3,000,000 to the church and inner city development projects. The goal is to revitalize the inner city of Houston with multi-income residential properties, vibrant commercial support services and an environment which will attract successful families back into the area. For more information about the Restoration Temple and Community Center, contact 713-631-5151 or visit http://www.montgomeryministries.org
Avatar Financial Group funds income producing commercial and investment residential projects nationwide. The company works with individuals and corporations who require fast bridge loans or non-conventional funding. More information about Avatar Financial GroupÂs lending programs can be found at http://www.avatarfinancial.com or by calling 888-886-0097.
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