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'Land swap': JMU trades land for historic Canterbury house | Business


Nearly two years in the making, the Canterbury Episcopal Campus Ministry’s new house is almost ready for move-in.
The old house, located at the corner of E. Grace Street and S. Main Street, was traded for an empty lot owned by JMU when the school approached Canterbury about buying the property. Karen Grane, president of the Diocesan Missionary Society (DMS) — which deals with real estate for the Episcopal Diocese of Virginia, funding new parishes, churches and renovations — described the sale as a “land swap.”
After months of negotiations, the sale went through Nov. 15, 2019. The Canterbury house and land were appraised and valued at $610,000. The empty lot at 622 S. Main St., which was previously used for Canterbury parking, came in at $300,000. JMU agreed to trade lots with the DMS and paid the $310,000 difference. ....

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