As expected, the Riverwalk YMCA closed its doors on New Year’s Eve.
“The sign on the front of the main building went down on Dec. 31,” said Kurt Stringfellow, president and CEO of theYMCA of Georgia’s Piedmont Inc.
“We drained the pool water for safety reasons,” he added. “We don’t want something to happen there while it’s not manned or occupied during the daytime. “We started moving the equipment Monday and will be completely out by the end of January.”
The popular Y branch, which opened in 2008 inside the new Riverwalk Communities, was forced to close, because its ownership of the building was contingent on the repayment of the developer’s loan, and that loan went into default.
The former Peoples Bank foreclosed on the loan and was in the process of attempting to work out a formal lease agreement with Y officials when state and federal regulators closed the bank and sold it to Community & Southern Bank. CSB officials were unwilling to enter into a long-term lease with the YMCA, and without at least a three-year commitment, the Y would not be able to renew its current leases for the exercise equipment.