By Jason Truitt // The Palladium-Item
RICHMOND, Ind. — It won’t be much longer before a building that has stood at one of the city’s busiest intersections since 1908 will be put back to use as a living complex for seniors.
Work is scheduled to finish soon on the renovations being done to the former YMCA at the southwest corner of North Eighth and A streets.
Julie Collier, a developer with Flaherty & Collins Properties in Indianapolis, said the project is coming along well.
“End of November is what we’re shooting for currently,” she said.
There aren’t any plans just yet for a grand-opening celebration. That likely won’t come until next year.
“My guess is that would happen first or second quarter of next year,” Collier said. “That’s pretty normal for us.”
Once finished, the senior apartment complex will be known as Music City Place, a nod to Richmond’s music and recording history. It’s one of the Stellar Communities projects that came about after the state chose the city for the designation and associated financial assistance in 2013.
The original YMCA building and its southern addition, built in about 1955, have been used in a number of ways throughout their history, including sleeping accommodations for men, a gymnasium, a swimming pool, a day care and various athletic programs.
The Richmond Family YMCA stopped offering community programming at the site in 2005 and removed its offices in 2006. At that time, the YMCA board considered demolishing the building.
The idea of turning the structure into senior housing first gained the interest of developers in 2008. Flaherty & Collins is the third group to take on the task.
The project received $1.3 million in tax credits and development funds from the Indiana Housing and Community Development Authority in February 2015 and an equity bridge loan of $5 million through the Tax Credit Assistance Program in November 2015.
Renovation work at the site began in June 2016.
When completed, Music City Place will have a total of 50 apartments, including five studio-style spaces, 24 one-bedroom units and 21 with two bedrooms.
The income-restricted apartments are reserved for people 55 and older whose income is 60 percent or less of the area’s median income.
Flaherty & Collins is taking applications now for those who might be interested in living at Music City Place. A temporary office has been set up at the Innovation Center in downtown Richmond, 814 E. Main St.