Church Drops Bid For Texas Shed

The former Verizon Wireless Amphitheatre in Selma, Texas, is back on the shopping block after a local church canceled plans to buy the property. The shed was sold by Live Nation to Stream Realty in February.

River City Community Church hoped to buy the venue and turn it into a 3,000-seat worship complex, according to the San Antonio Express-News, but failed to secure a commercial lender willing to make the deal despite making about 20 pitches.

The church continues to fund-raise in hopes of securing the level of discretionary income necessary to make the project more attractive to lenders, should it have another shot at the 100-acre property, church officials told the paper.

A purchase price wasn’t made public, but church fund-raising materials reportedly indicated it was $6.5 million and included a five- to seven-year phased construction that would enclose the 73,000-square-foot venue.

The property is listed in Stream Realty’s inventory for sale on the company’s Web site.