MBTS sells land for $8 million
KANSAS CITY – Midwestern Baptist Theological Seminary has sold 30 acres to a real estate developer for around $8 million, giving the seminary more financial freedom to pursue various building projects.
MBTS President R. Phillip Roberts said the closing for the land deal is scheduled for September. Roberts said the sale of the land at Northeast Vivion Road and North Oak Trafficway will give the seminary “a leg up” when it comes to some needed construction.
“A lot of the funding will go toward challenge grants toward the building of a new chapel, the expansion of the library, and some new dormitories,” Roberts said.
Plans call for constructing a chapel that will seat at least 600 people, Roberts said.
A 30-acre shopping center is being planned for the land formerly owned by the seminary.