Case Study: Revitalizing the Historic YMCA to Catalyze Downtown Growth
Project Overview:
ArkLaTex Advisors is leading an ambitious effort to revitalize the century-old YMCA building in downtown Shreveport. The project stems from a conversation between Kyle Hunnicutt, CEO of ArkLaTex Advisors, and Gary Lash, the CEO of the YMCA, about the building’s 100-year anniversary in 2025. Initially approached to explore how to reopen the YMCA’s pool, which was closed in the fall of 2023 due to low member usage and high operating costs, ArkLaTex Advisors quickly identified a broader opportunity: to turn this milestone into a transformative project that addresses both the YMCA’s needs and the long-standing challenges faced by downtown Shreveport.
Challenges:
Outdated Facilities: The YMCA’s facilities no longer meet the demands of its members, with the pool closure being just one symptom of its broader operational inefficiencies.
Limited Parking: Parking in the area is scarce, making it difficult for members, students, and employees of nearby businesses to access the YMCA and other local attractions.
Underutilized Spaces: The top two floors of the YMCA building have remained vacant for years, representing lost opportunities for revenue generation.
Funding: The estimated $25–$30 million renovation requires substantial capital, with various stakeholders needing to align on the project's value and potential impact.
Our Approach:
After recognizing the potential to turn the YMCA’s 100-year anniversary into a catalyst for a larger revitalization effort, ArkLaTex Advisors began crafting a comprehensive strategy. The goal is to modernize the YMCA while preserving its historical significance and aligning the project with the broader goals of the community.
Strategic Conversations: The project originates from a simple conversation about reopening the YMCA’s pool. ArkLaTex Advisors identified a larger opportunity by listening to the YMCA’s broader challenges and considering the needs of the surrounding community.
Facility Modernization: The renovation plan includes modernizing key areas such as the fitness center, adding new CrossFit and aerobics studios, upgrading the pool, and introducing cutting-edge technology for teleconferencing and remote fitness classes.
Parking Solutions: Recognizing parking as a major obstacle, ArkLaTex Advisors has orchestrated a solution by facilitating partnerships to build a six-story parking structure, which will expand capacity to 400 vehicles. This structure not only addresses parking for the YMCA but also provides new opportunities for nearby businesses.
Revenue-Generating Event Space: ArkLaTex Advisors has proposed converting the top floor of the parking structure into a multi-use sport court and event space, capable of hosting tournaments, community events, and private gatherings. This space is designed to be a flexible venue, creating additional revenue streams for the YMCA and local property owners.
Exploring Solutions for Vacant Floors: ArkLaTex Advisors is also exploring the redevelopment of the YMCA’s vacant top two floors. Whether these become office spaces or residential units will depend on ongoing market analysis and community feedback, but either option presents a path to increased revenue and utility.
Results:
Partnership Development: ArkLaTex Advisors has successfully brought together the YMCA, Southern University at Shreveport (SUSLA), local property owners, and community stakeholders to align around this vision.
Comprehensive Planning: The plans for facility upgrades, parking expansion, and event spaces have created enthusiasm among local businesses, which will benefit from improved amenities and access.
Community Involvement: By engaging local residents, students, and businesses, the project ensures that the revitalization is responsive to the needs of the community.
Potential New Revenue Streams: Property owners are already seeing the financial benefits of their involvement, including access to premium parking and opportunities to offer unique amenities to their tenants.
Key Takeaways:
Identifying Opportunity: What began as a discussion about reopening a pool evolved into a multi-faceted project to revitalize a landmark and solve long-standing challenges. ArkLaTex Advisors demonstrated its ability to listen, identify opportunities, and create a strategic plan that benefits all stakeholders.
Collaboration for Success: By aligning the interests of property owners, local businesses, and educational institutions, ArkLaTex Advisors has crafted a solution that fosters economic growth, improves community amenities, and respects the YMCA’s history.
Innovative Solutions: From solving parking shortages to creating revenue-generating event spaces, ArkLaTex Advisors continues to lead the way in transforming challenges into growth opportunities.