July 30, 2014
The Reno City Council voted Wednesday to purchase the former YMCA facilities on Foster Drive.
The purchase of this property, owned by Sierra Principal Investments, will cost $3.4 million, and is planned to close by July 23. To date, community fundraising efforts have garnered promises of $3.1 million, with $1.8 million of that available on the date of close.
Last-minute fundraising efforts will continue, including a loan of up to $650,000 from the City of Reno to bridge the funding gap by July 23.
The YMCA of the Sierras owned and operated the facilities at 1270 and 1300 Foster Drive since 1960. The original facility contains 83,000 square feet and consists of a main level, a basement and partial upper level. The building includes a pool, locker area, multiple gymnasiums, a reception area, and a work-out space. Much of the original facility has deteriorated to an unusable state.