Originally published at National Catholic Register
The Catholic Church in the United States is facing a real estate reckoning. Declining congregations, shifting demographics, and aging infrastructure have left thousands of Church properties underutilized or vacant. As dioceses merge and parishes close, leaders grapple with determining the future of these valuable yet costly assets.
The Church’s predicament is a delicate balancing act between financial pressures and mission objectives. Burdened by immense financial obligations — maintenance deficits often soaring into the millions — these properties are more than assets on a ledger. They are sacred spaces with spiritual significance, historical landmarks, and community pillars. These values transcend monetary measurement, yet decisions must be made.
“Many of these properties are dilapidated or just unused, and the overhead costs are immense,” said Michael Lyons, founder of [Y] Impact Ventures, an impact investment firm focusing on driving social good and financial return by boosting the value of housing through community building. “At the same time, the Church lacks funds from a ministry standpoint. There’s an arbitrage that needs to be addressed.”
Amid a national housing shortage and the aftershocks of the COVID-19 pandemic, some dioceses are adopting creative approaches to repurpose Church properties, aligning financial obligations with their mission.
Austin’s blueprint
