Deadline Nears for Developer of Old Ymca

Summary


Time is running out for Anthony Smith's vision for remaking the old YMCA building on Church Avenue in Roanoke into a crisp new building with commercial and living space.

Smith has been working for nearly two years on a deal in which the city would sell him the 54-year-old building for $10 in return for meeting a set of requirements that include showing proof of his financing, putting up a $650,000 security bond and investing at least $3.4 million into the project.

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Extract


Deadline Nears for Developer of Old Ymca

He's met most of those, securing a $3.6 million commitment from the Virginia Housing Development Authority and $1.7 million in federal and state tax credits.

But with a month to go until his deadline of Jan. 31, he's st...

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