Houston’s City Council voted 13-2 yesterday to sell the former Compaq Center to the nation’s largest megachurch for a grand total of $7.5 million dollars. Sure, that’s considerably less than the $22.6 million the city would have received for a 30-year extension of Lakewood Church’s current lease on what used to be homecourt of the Houston Rockets. But the city wouldn’t see the beginning of that income stream for 24 years, and it might be a full 54 years before the city could get the building and those 7 acres of Greenway Plaza land back — presuming either is worth anything at all by then. And really, who’s even going to want to be around this city in 2064?
That $7.5 million isn’t exactly chump change, either. If each of the church’s approximately 43,500 weekly visitors throws a dollar into one of those collection buckets, it’ll take them all of 3 and a half years just to pay the darn thing off!
But did the city even have a choice in the matter?
“My neighbor lived in what you would consider a ‘tear down.’ For several years she struggled with selling and moving or rebuilding on the lot. A big factor in the decision was finding a builder that would keep the integrity of the lot and not cut down the gem – a 100 year old tree that is 4′ in diameter. She thought that she found the builder that respected the tree and had the same vision while simultaneous[ly] she found her dream home over in Garden Oaks. . . . Shortly after the transition, a family bought the lot and are ready to build . . . I have 2 neighbors including myself that would take this tree. 
