Monday, January 9, 2012

Century-old Reno YMCA closes

The Reno YMCA is now bankrupt and closed due to increased competition and low community support.  The downtown Reno YMCA opened in 1911 and moved to Foster Drive near Reno High School in 1956.  It developed into a “campus” of buildings, including a $1.7 million dollar youth center constructed in 2003.  Maintenance and mortgage costs began to pile up.
In 2006 the Y’s board realized they had a large debt burden so they sold the property to a developer.  Membership continued to decline with competition from new for-profit gyms.  The Y’s fundraising activities in the final few years also declined.  The Y’s board sought to maintain control of the property, and reduce debt, but without success.  The national YMCA finally pulled Reno’s charter, for their poor financial condition. 

The City of Reno now owns the site.  The city now has to decide what to do with the buildings, some of which are in poor condition with mold issues.
Critics of the Reno YMCA blame mismanagement as the root cause of the shutdown.

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