The Richmond Christian Center was founded in 1983 by its pastor, Stephen Parson, Sr. The church grew into a very large congregation, but now according to documents filed late Tuesday with the U.S. Bankruptcy Court in Richmond, the church listed estimated assets as between $1,000,001 and $10 million and estimated liabilities of between $1,000,001 and $10 million.
Foreclosure proceedings had started for the Richmond Christian Center’s building at 214 Cowardin Avenue which takes up a city block, and an auction was scheduled for last Wednesday, but filing for bankruptcy stopped the auction.
The filing helps keep the Richmond Christian Center's building off the auction block for the time being, but Ronald Page, an attorney for the church says it's still possible it might try to sell the property.
Page said RCC is exploring options to restructure the building’s financing or sell the property. The church building is available for sale or lease along with several other RCC-owned parcels, including nearby parking lots, two buildings at 318 W. 19th St. and a few Manchester area single-family homes. The portfolio has a listing price of $5 million.
The building has a gym, a day care center, office space, a large auditorium, a banquet hall and an auto shop. All of these components are marketable as parts, and the building could be sold as a whole.
According to a Richmond business site, local developers have their eyes on the 77,000-square-foot building who see it as a depreciating asset and an opportunity for development. Also, there are members of the church who are very anxious to see what’s going to happen.
The church is still operating at the Cowardin Street building where Stephen A. Parson Sr. is the pastor.
Click here to see the bankruptcy filing.