Downtown YMCA REDEVELOPMENT ANNOUNCEMENT
Answers to Some Frequently Asked Questions
On Monday, October 4, the YMCA of Middle Tennessee made an important announcement regarding redevelopment of the Downtown YMCA Burkholder Center property. Please read below for the key details and answers to some key questions about the announcement.
What is happening?
The YMCA of Middle Tennessee has signed a non-binding letter of intent with Giarratana Management, a Nashville-based real estate developer, to pursue a partnership that would result in a major redevelopment of the Downtown YMCA property at 1000 Church Street.
What does this mean for the Downtown YMCA?
The partnership envisions demolishing the oldest section of the Downtown YMCA (the part closest to Church Street and built in 1973) and rebuilding a new and vastly improved facility that would re-connect with the newer portion of the Downtown YMCA (built in 2008).
When completed, the project would create a state-of-the-art Y that can continue to meet the growing needs of downtown Nashville for decades to come.
What else will be built on the property?
Under the terms of the partnership agreement, Giarratana Management would purchase a section on the south side of the Downtown YMCA property in order to construct a proposed 60-story residential tower adjacent to the Downtown Y.
Why is the Y doing this?
In 2020, the YMCA of Middle Tennessee’s Executive Committee commissioned a volunteer-staff task force to explore property development opportunities at the Downtown YMCA site. As part of these efforts, the task force requested proposals from a variety of developers in the Nashville area via a formal RFP process.
Giarratana's partnership proposal was selected because it will allow our YMCA to leverage the value of an underutilized portion of our property in order to reimagine and reinvigorate our Downtown YMCA in a manner that might otherwise be cost-prohibitive and out of reach for our Y.
When will the agreement become finalized?
As with any project of this magnitude, there are still many steps to work through before considering it a ‘done deal.’ We expect the due diligence period to take about 60 days, during which time the Y and Giarratana will draft a final purchase agreement. Assuming all goes as planned with due diligence, we will then seek final approval on the purchase agreement from the YMCA’s volunteer leadership.
When would demolition work begin on the older portion of the Downtown YMCA?
We don’t anticipate any change to the Downtown YMCA’s footprint until January 2023 at the earliest.
Will the Downtown YMCA be closed during construction?
No. We anticipate keeping the newer portion of the Downtown YMCA building open throughout the construction process.
What will happen to the facility amenities in the older part of the Y?
Details about what the rebuilt portion of the Downtown YMCA will include have not yet been determined. The Y will continue to provide updates to members regarding any construction-related designs and renovation plans once new information becomes available.