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Stamford YMCA Sells Hotel

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I found this on my Bloomberg terminal. Its from the Courant.com in the fairfield county section, so no link, but They deserve credit.

YMCA Chief Executive Officer Mark Ketley announced yesterday the organization plans to sell its lobby and eight-story hotel at 909 Washington Blvd. to local developer Randy Salvatore and a partner, Apex Hospitalities Inc. of New Brunswick, N.J.

The Y would retain ownership of the fitness center, pool and gymnasium.

"There is so much building going on around us that it's just natural for us to be part of it," Ketley said.

The new YMCA would open no sooner than early 2009, he said.

The first step to reopening is getting a variance from the Zoning Board of Appeals because parking requirements are stricter for a commercial hotel than a Y. The Y is seeking to split the 40 spaces in its parking garage evenly with the hotel. Ketley said he doesn't anticipate much opposition because the new hotel will have 99 rooms - down from 132 previously.

I think this is good stuff for downtown Springfield, I just hope the poorer kids that have been forced out of downtown are given places for recreation and not forgotten. this Y will of course serve everyone, but there may come a time when the people that need the most accessabliity are no longer near the Y.

am I making sense?

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