Business Lexington
Lexington, KY - Southland Christian Church has entered into a contract with Saul Properties of Bethesda, Md. to purchase a portion of the Lexington Mall property at the corner of Richmond Road and New Circle Road, as reported by on June 25.
A press release said the 10,000 member church plans to develop an additional campus. Southland Christian now has campuses on Harrodsburg Road in Lexington and in Danville.

News of the acquisition of the high-profile site which has sat derelict for years was welcomed by city officials.
"We have been working with Saul since the earliest days of the administration to encourage them to find a solution for this property and to offer our assistance, if needed," said Mayor Jim Newberry in a statement. "I think the neighbors will be very glad there is change coming to lexington mall in the near future. Southland Christian Church is widely respected in our community and I'm sure the church will be welcomed by many at the new Richmond road site."
Vice Mayor Jim Gray noted, "This is a great opportunity to revitalize an area that has been vacant for so many years. In building this campus, Southland will improve the attractiveness of the area which should lead to more long-term occupancy in surrounding properties. We need this sort of positive news to stimulate development in these tough times, and I commend Southland's leadership and commitment to our City, and look forward to seeing their plans for the area," Gray said.
"I'm very excited to finally see this horrible eyesore in our town get a new owner - one that I know will be a good neighbor to our city," said Urban County Councilmember Cheryl Feigel, whose 5th district includes the Lexington Mall site. "I look forward to working with SCC to create a facility that will be an asset to our neighborhoods."
Feigel noted that the church negotiated a 60-day period in which to conduct due diligence, an indication that the deal is not yet final.

It was not immediately clear what proportion of the mall property was being acquired by the church.
In 2005, neighboring Home Depot purchased sightline rights from Saul for $5 million. The transaction prohibited the construction of structures within 500-feet of Richmond Road and 250-feet of the western border of the Home Depot property.
The church has retained EOP Architects to begin the design process, which will include soliciting input on the design of the worship center and other facilities from merchants and residents in the area, as well as other interested parties, the release said.



"We are excited to see how God will guide us through this process as we move forward with this additional location, stated Jon Weece, Lead Pastor of Southland.
"Our mission is to share joy, hope and healing with others through our love of God and people."
Terms and conditions of the transaction are confidential and will not be made public.
The mall property was most recently appraised at $8 million, but in the past decade the Fayette PVA has appraised the property at $14 million in 2001 and $10 million in 2002-03, years when the site hosted at least some business.
The sale to a church, a tax-exempt entity, would remove the property from the Urban County tax base at a time when bleak financial projections have left the city cutting corners and dipping into its rainy day fund just to make ends meet.
Southland Christian does, however, offer an array of vital community services including medical and dental care to those who cannot afford health care coverage.
Business Lexington
An executive with Saul Centers, commenting in a previous article about the status of the mall, said that the property had been the sole non-performer among the dozens of highly successful retail properties owned by the company.
With Lexington Mall, Saul Centers, a conservative organization with strong earnings and a solid reputation, found itself in an unaccustomed struggle to find a viable commercial solution for a property that is literally joined at the hip with Home Depot.
Professionals in the mall development business said the aesthetics of the home improvement retailer are incompatible with those of an upscale mixed-use retail, residential and office development.
It hasn't helped matters that the economy has been in such turmoil; that Fayette County already has more than enough available retail, office and residential space; or that two mega-malls, Fayette and Hamburg, now draw away traffic.