Wayman-Palmer YMCA Community Hub

New Markets Tax Credits supported the construction of a new YMCA Community Hub

Investment

  • NMTC Amount: $15,000,000
  • Total Project Cost: $29,500,000

IMPACT

  • 50 FTE jobs
  • 125 construction jobs

Investor

Project Description

In partnership with the City of Toledo, the YMCA of Greater Toledo is constructing the new 44,100 sq. ft. Wayman Palmer YMCA Community Hub. The complex project involves the (1) demolition of the deteriorating and obsolete existing YMCA facility and adjacent Inez Nash Park; (2) construction of a new state of the art YMCA at the site of the old public park; and (3) construction of a new 148,100 sq. ft. park at the site of the old YMCA. The relocation of the new facility will provide improved street facing access to the surrounding community and serve as a community hub.

The new facility’s design, services, and programming plans were the result of a comprehensive asset and needs assessment through which individuals and families, school and community leaders, and neighborhood stakeholders provided input and direction. In addition to traditional services offered by YMCAs across the country like youth programming, a swimming pool and a gymnasium, the Wayman-Palmer YMCA Community Hub will offer a diverse array of expanded permanent and rotating services. Planned permanent services include access to the Toledo Northwest Ohio Food Bank, Head Start preschool programming from the Toledo Public Schools and mental health services from RFS Behavioral Services. Rotating services include, but are not limited to, healthcare from local providers, spiritual services from local religious institutions, and meals from local not-for profits.

The hub will serve the population of the Warren Sherman neighborhood and adjacent low-income communities, which have experienced systemic poverty, unemployment, and poorer health outcomes, among other socioeconomic challenges.

To make the project possible, Building America CDE, Inc. allocated $8 million in NMTCs to the $29.5 million project. IFF provided an additional $7 million in allocation and Capital One provided NMTC equity.

PDF Profile

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