Big changes are coming to the Downtown YMCA building. With a $5 million award from the state’s Regional Cities Initiative program approved, a plan is being developed to transform the 1913-era building’s “old” section at Fifth and Vine streets into about 60 affordable housing units.
That part of the project, though, is just the beginning. YMCA officials said the Regional Cities award is acting act as a catalyst for them to update the entire facility.
For now, YMCA officials are not specifying what the rest of the work will involve. That’s because a $5.5 million capital campaign is not complete. About 80 percent of the total is committed.
With some long-term debt and some new market tax credits added to the budget, the total project cost could be from $11 million to $14 million. YMCA officials are working with architects on scenarios for the building.
“We’re trying to keep all our options on the table as we identify the most efficient, impactful way to move forward,”said Derrick Stewart, CEO of the YMCA. “I can tell you there’s a real focus on accessibility within the building: more friendly to people with disabilities, seniors and families. Those are important things. We also want to redevelop our community outreach space and use technology at a higher level.”
YMCA officials hope to complete their campaign within three months and bring forward a plan for the Downtown facility by September.
“We’re still working through some details,” said Dave Mitchell, YMCA board president. “There’s a lot of moving parts but were extremely excited about it. A renovation to the Downtown Y likely wouldn’t have occurred had Regional Cities not been available. The board is extremely excited.” On the housing piece of the project, the YMCA is working with Anderson Partners LLC of Indianapolis, which does affordable housing tax credit projects. The company was denied credits for this year but will reapply for 2018. Stewart said it’s not unusual for a project to be turned down on its first attempt.
The challenge YMCA officials will face is keeping the facility open and functioning during construction, which they said could take about 18 months.
“It is different doing this than Dunigan (the East Side YMCA), because there, we built from the ground up,” Mitchell said. “That will put pressure on Derrick and the staff to keep things going We certainly would want to minimize (disruption) but without question, it presents some different challenges for us.”