LYNN — Plans are continuing to move forward for a new, 70,000 square-foot YMCA that is slated to open in the city by the fall of 2019.
The YMCA of Metro North plans to build, furnish and equip a second facility next to the existing Lynn YMCA. When completed, the new Y will contain an aquatics center, indoor track, gymnasium, and a new childcare facility for 390 children. The old building will be repurposed for multiple uses, including youth and family programming.
A kickoff for the community fundraising phase of the YMCA of Metro North’s capital campaign was held at Eastern Bank on Thursday night. For the last two years, the organization has been raising money for the $30 million project through the silent major gift phase of the campaign, according to Bruce Macdonald, CEO and president of YMCA of Metro North.
With the major gift phase, $21 million has already been raised for the project, which includes about $9.2 million in private donations, $7 million received from New Markets Tax Credit and a $4.8 million MassWorks grant, with the latter earmarked to support infrastructure for the project, Macdonald said.
“Tonight’s really a celebration,” Macdonald said of the kickoff event. “We’re very excited and pleased about the level of support we’ve got. It’s going to be a great project for the city.”
The MassWorks grant is being used to reconfigure the road around the YMCA to make way for the 70,000 square-foot expansion, which includes closing Wheeler Street, the reconfiguration of the adjacent roadway network to preserve access to the neighborhood, and the relocation of utilities. Once completed, the area will be more walkable for pedestrians.
The rest of the project will be financed through a $9 million, 25-year bond from MassDevelopment, the state’s development bank, which Macdonald hopes to reduce through the community phase of the capital campaign.
“We would like to raise a fair amount of money so we don’t have to carry a big bond,” Macdonald said.
Macdonald said a potential strategy would be to try to raise $1 million between 40 businesses or individuals, with each coming up with a $5,000 gift over five years, which would be $25,000 each for a total of $1 million. But he said that’s not their expectation for most of the people, as any donation would be appreciated.
By summer, Macdonald said construction on the new YMCA will begin. Road work, which is expected to start in May, will be done first and is out to bid right now. He anticipates the project will take about 14 months to complete, with the new YMCA open and ready to go in October 2019.
“It’s going to be a beautiful building,” said Macdonald. “I can’t wait. I’m excited about it. We’ve been planning this for a number of years. This isn’t just something that happens overnight.”
Macdonald said there’s been amazing support from Tom Demakes, the owner of Old Neighborhood Foods, who is spearheading the entire fundraising campaign. Rick Settelmeyer, a Marblehead resident, who helped raise funds to build the Lynch/van Otterloo YMCA in Marblehead, is co-chairing the campaign with Demakes.
“I think it’s really exciting,” said Mayor Thomas M. McGee. “It’s going to be a beautiful facility. It really adds to that area. It’s exciting to see it finally ready to move forward. It’s been a lot of hard work. A lot of people have been working together over a number of years to make this happen. So, it’s exciting to see we’re close to the finish line.”
The YMCA of Metro North was formed in 2012 after the Greater Lynn YMCA, which included the Saugus Family YMCA and the Peabody/Lynn YMCA, and the Melrose Family YMCA merged.
