No immediate plans for former YMCA site
Rumors are flying about what business is moving into the space
There has been movement this week at the former Marietta Family YMCA building on Seventh Street, as Pioneer Group workers have moved in and out of the site.
The building’s sale was completed last week following review by the Ohio Attorney General’s office to ensure the turnover of the asset from the nonprofit Young Men’s Christian Association to Glendale Road Development LLC followed legislated requirements for the $725,000 warranty deed.
Matt Hilverding, chief financial and operations officer of Pioneer Pipe, explained as spokesman for Glendale Road Development that plans for the building long-term are not yet public, but the group is winterizing the property this summer.
“We’re cleaning out trash, draining the pipes,” he said. “We have no immediate plans for the building besides getting the water and everything turned off and cleaned up. There’s nothing else right now in the works.”
But even the former owners are wondering if rumors of a fast food chain, or apartments, may be the ultimate fate of the formerly nonprofit-owned building.
“I still hope for a Chick-fil-a, Chipotle or Starbucks there but who knows what’s really going to happen,” said YMCA Board President Rick Smith. “But we’ve received the money from the sale, and first will be paying off the debt we had on the roof and (will) pay back into the investment accounts we had to draw down from to stay afloat for the last two years.”
The YMCA struggled to break even the last two years as constant repairs to the now-drained pool, and other infrastructure in the building kept breaking.
Hilverding said Tuesday winterization efforts now include preventing another winter of flooding and burst pipes the YMCA suffered from in previous winters.
But the sale took longer than the previous early June projection, both Smith and Glendale Road Development’s lawyer Abe Sellers with Theisen and Brock, explained.
“The last two weeks were certainly a controlled crazy, we had to take out an additional six-month insurance policy on the building because our plan ran out on June 30, but the Ohio Attorney General’s office had to certify the sale, and that took longer than the end of last month,” said Smith.
He noted that insurance policy was prorated and the nonprofit is no longer paying for insurance on the Seventh Street location, only on its property off of Colegate Drive where it shares a building with the Goodwill.
“When a nonprofit sells all, or a substantial amount of its assets to a private entity, the OAG’s office has to review the transaction and approve it so that there’s no impropriety,” explained Sellers. “But that takes longer than a usual sale because you’re going through government processes.”
Sellers said the sale cleared state requirements.
“And now there’ll be significant improvements and renovations to the property,” he added.
At a glance:
• The 113-year-old former YMCA building at the corner of Seventh Street and Glendale Road sold on July 3 from the Young Men’s Christian Association to Glendale Road Development LLC for $725,000.
• The building is now being winterized by Pioneer Group.
Source: Times research.