NEW YORK -- Crystal Cathedral, one of the nation's first modern megachurches and one that had come to define the movement's opulent strain with its towering glass structures, elaborate stage productions and far-reaching "Hour of Power" television ministry, is up for sale.
The struggling Southern California church filed for bankruptcy last year and has been fraught with conflict over church leadership and botched finances since its founder the Rev. Robert H. Schuller stepped down in 2006. A financial reorganization plan, which was submitted to court on Friday, would sell the 40-acre church campus for $46 million to Greenlaw Partners, a real estate investment group. The sale would allow the church to pay off a $36-million mortgage and pay back almost all the money its owes to 550 creditors over the next 3-and-a-half years. The church's board would have the option of leasing back the property for 15 years. After four years, the church would also have the option to buy back its most prized buildings, such as its $18 million 10,664-window glass sanctuary that was designed by famed architect Philip Johnson, a 13-story structure called the "Tower of Hope," its welcome center and its cemetery. "Under this plan, the ministry of the Crystal Cathedral will continue its local worship services and community outreach programs," church spokesman John Charles said in a statement. The church would also continue its "Hour of Power" television show, he said. Charles did not return a phone call and an email requesting comments on Friday. The sale, which would need to be approved at a June 1 bankruptcy court hearing, is the latest in a troubled history for a church that was once seen as the shining example of megachurch success in the United States.
