Kitchen, Inc. Sells Aging Campus, Eyes Groundbreaking for New Venue
The non-profit Kitchen, Inc. has sold its Commercial Street campus, the latest step in the organization’s move to a new venue later this year.
According to a news release, CEO Rorie Orgeron signed the papers Wednesday transferring ownership over the seven building campus to Historic Commercial Developments, LLC. The sale price was not disclosed. But the Kitchen noted it did not make a profit from the sale.
“[The sale] allows us to pay what is owed on the campus as well as past debt accrued. Moving forward, we will be able to allocate our resources to helping the homeless instead of making payments on old debt,” said Orgeron.
The social service agency will pay rent to Historic Commercial Developments for continued use of four buildings until completion of the new campus. In October, The Kitchen said it had acquired the land for new facilities at the corner of Glenstone and Chestnut Expressway. Officials said the move was more cost effective than renovating its existing campus. On Wednesday, the organization said the new $4 million venue is 77 percent funded.
The Kitchen says it will break ground on the new campus, which includes a shelter and support services/administration building, no later than this fall.