The sale of the First Baptist Church property in downtown Columbus has fallen through, Realtors for the church and the prospective owner confirmed Tuesday.
Citing confidentiality requirements, neither Royce Hudspeth, the Realtor for the church, or Joshua Holder, Realtor for the buyer, would elaborate on why the sale fell through.
“What I can say is that the previous transaction involving First Baptist is not going to go through,” Hudspeth said. “We are presently talking to other interested buyers, and I’m optimistic about that.”
“I can’t tell you anything other than to confirm that the sale isn’t going to happen,” Holder said.
On Nov. 1, Hudspeth confirmed that the property had been put under contract by an anonymous north Mississippi developer. Hudspeth said the purchase price and the name of the buyer would be revealed when the parties closed on the sale, which was scheduled to happen Tuesday.
The deal began to unravel in days leading up to the closing date, however. On Tuesday, First Baptist pastor Kevin Cuthbertson informed church members via email that the sale had fallen through.
The property, which occupies 81,000 square feet with four main buildings on Seventh Avenue North, has been for sale since 2005 when church officials completed the purchase on land off Bluecutt Road as the site of its new church.
It was originally listed for $4.9 million. In 2016, it listed for $1.5 million. The list price at the time of the November purchase was $450,000, although Realtors would not divulge the agreed purchase price. At the request of Holder, Lowndes County Tax Assessor Greg Andrews provided tax estimates based on valuations of $700,000 and $800,000.
Holder said in November his client’s plans called for a mixed-use development that would include upscale apartments and office/retail space.
Founded in 1832, the church is one of the city’s oldest. The current sanctuary was built in 1908 with the other buildings added over the following decades.
Although it is a part of the city’s historic district, it has no state or national historical designations, which will allow the new owner latitude in converting the church to a mixed-use facility.
Hudspeth said the property has returned to the market at a price of $450,000.
Slim Smith is a columnist and feature writer for The Dispatch. His email address is [email protected].
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