Dallas, TX (2023)

Park South Family Y

Investment

  • NMTC Amount: $17,000,000
  • Total Project Cost: $17,000,000

IMPACT

  • 41 FTE jobs
  • 96 construction jobs
  • 41,000 sq. ft. of real estate

Investor

Project Description

February 6, 2024, marked an important milestone for the Park South Family YMCA with the groundbreaking for a brand new Park South YMCA. Following the demolition of the nearly 55-year-old building, the special groundbreaking ceremony celebrated the official beginning for the brand-new 41,000-sq. ft. modern facility. The new building will retain the Y’s vital community services, health services, childcare and after-school programming in a fresh and modern facility.

For over five decades, the Park South YMCA has been a cornerstone of the South Dallas community, offering preschool education, after-school programing, swim lessons, fitness classes, and meal distribution among other important services. The new center will elevate these offerings with updated and modernized amenities including an updated fitness center and lobby, a dedicated preschool wing, versatile event spaces, a full-sized gymnasium, commercial kitchen, and a brand-new pool for the Southeast Sharks swim team and aquatic classes. Dedicated to a holistic and multi-generational approach, the programs will cater to individuals of all ages, providing affordable, high-quality services ranging from childcare and early learning to youth development programs, healthy living initiatives, and financial literacy and small business support.

The Office of Economic Development attended the event along with honored guests including Dallas YMCA President and CEO, Curt Hazelbaker, YMCA Board Chair, Dr. Jasmine Collier, and District 7 Council Member Adam Bazaldua.

The Dallas Development Fund (DDF) and City Council approved a New Market Tax Credit (NMTC) transaction of up to $7 million of DDF’s 2021 NMTC allocation. Capital One bank is anticipated to contribute $2.211 million in NMTC equity to support DDF’s allocation. Additionally, Texas Mezzanine Fund (TMF) is providing up to $10 million for a total of $18 million in NMTC allocation for the reconstruction of the Park South Family YMCA.

During construction, pre-school education will continue in the partner building across the street and several churches in the immediate area have volunteered to host afterschool programing to continue providing the much-needed services to the community. The reimagined YMCA is anticipated to serve over 2,800 individuals annually with a significant portion coming from low-income households. Park South YMCA will reopen its doors at 2500 Romine Avenue in early 2025, symbolizing a brighter future for South Dallas generations to come.

MAP

Address: 2500 Romine Avenue, Dallas, TX 75215

Census Tract: 48113003700

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