Developer/Sponsor

Yakima YMCA Association

Project Type

New Construction

Investment Amount

$9 million

Description

Yakima YMCA Association is constructing a new $20 million, 72,000 square foot YMCA facility in Yakima, Washington. The project will create living wage jobs and provide high quality programming to the city’s at-risk population. Yakima YMCA offers no-cost programs year-round for early childhood education and for drop-in youth that provide a safe, adult supervised space for social, recreational and academic support. The new facility will quadruple the number of individuals served by the YMCA and encourage more families to experience the YMCA as part of their everyday lives.

Investment Type

Project financing includes $9 million in NMTC allocation from Enterprise. Wells Fargo Community Investment Holdings is the NMTC investor. 

Market

The property is in the Chesterley Park neighborhood of Yakima, adjacent to one of Yakima’s most financially-challenged and in-need neighborhoods. The new YMCA is being built to serve the largest cross section of Yakima. The YMCA’s Mobility Therapy & Rehabilitation program will serve both of Yakima’s hospitals, as well as more than 30 retirement and living care facilities within 15-minute distance from the new location.

Community Impact

The project will create approximately 150 temporary construction jobs and 40 new full- time permanent positions. The YMCA will provide community programming to approximately 21,600 individuals in first year of operations. At capacity, the YMCA will annually provide community programming to over 28,000 individuals, childcare services to over 600 children, and healthcare services to approximately 4,100 individuals.

The new facility will provide opportunities for youth to participate in meaningful community activities and be exposed to a positive, healthy alternative to gang life. Programming at the new facility will include ASPIRE Mentoring, which connects at-risk students to year-long mentorships to develop goal setting and life skills, combining Outreach Recreation & Education (CORE) program, an outdoor adventure program for at-risk youth, and weekend youth outreach programs.

The facility will receive LEED Silver certification.

Sponsor 

The project sponsor is Yakima YMCA Association (Yakima YMCA). For over 110 years, the Yakima YMCA has provided high quality programming, staff, and facilities to enhance individuals, families and communities. The Yakima YMCA was established in 1906 and began operations in 1908. This project will be the second location. 

Investor

Wells Fargo & Company is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance.