Jun. 16—FAIRMONT — Plans announced two years ago to transform the old YMCA building on Fairmont Avenue into a mixed-use project got a boost Wednesday.
MVB Bank gave Fairmont Community Development Partnership a grant of $3,000 to assist with restoring the historic structure that has retail and commercial space in the bottom and apartments on its upper floors.
Partnership Executive Director Kayleigh Kyle cited neighboring Rambling Root and Uncle Ronnie's Sandwich Shop as solid examples of the building future tenants.
"We're very excited about it. This is something that is very catalytic for the project. So if we didn't have this (the mini-grant), we wouldn't be able to move forward with the other pieces," Kyle said.
Kyle said the mini-grant, while it does not come close to covering the $8 million that they've estimated the renovation will cost, it does open the door for them to apply for state and federal historic tax credits.
"So what that does is, it has the potential to unlock over a million dollars in funding to get this project completed," Kyle said.
Right now, they are working on finding an anchor tenant for the first floor of commercial space and applying for additional funding, while the historic tax credits are being reviewed.
As for renovations, they will be removing pieces of the inside that are falling apart and refurbishing the facade of the building. For example, one of the upper levels has an HVAC system that has caused the entire floor to be unusable, as of right now.
The Partnership has also received $55,000 for pre-development costs from Opportunity Appalachia, which has a grant program through the Appalachian Regional Commission, Kyle said.
Kyle said if everything goes right, construction could begin in 18 months. In the meantime, Fairmont State University art professor Joel Dugan and students created murals that will be displayed outside of the building to act as a temporary facade until construction.
MVB Community Development Corp. President Martin Howe said the opportunity to support a local nonprofit while they restore a historic building is something they're eager to be a part of.
"(It) will enable them to put millions of dollars back into the community. It will also allow us the possibility, in the future, to make an equity investment in the project, as well, with historical tax credits," Howe said.
The building, which was left vacant until 2009, when the FRDC began surveying it, was built in the early 1900's. It was used as the YMCA building until around the 1960's when the Moose Lodge, a fraternal organization, moved into it, Kyle said. Inside, there is still a bowling alley, a swimming pool, a track and dormitories that will be removed when construction begins.
Kyle said that a building like the old YMCA, located at 100 Fairmont Ave., is something that is hard to find in a downtown area.
"You know, there's not a whole lot of vacant properties to build large situations like this. So, we want to reuse what's available to us. It's ethical, it's better for the environment and all sorts of things like that to be able to reuse what we have," Kyle said.
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