Friday, November 18, 2011

Richmond homebuilder to buy city-owned YMCA

The 56 year old YMCA located at Church and 5th Street came back on the Market after Anthony Smith failed to close the deal on renovations by the January 31, 2011 deadline.

Ricky Scott of B-MAT Homes, Inc. a Richmond Va. based builder will pay the city $225,000 after doing 160 days of due diligence on the 52,000 square foot building. The assessed value of the property is $971,500.

Following the city’s approval of their plan and closing on the property they will have two years to complete the project. They plan calls for 8500 square feet of commercial space and 38 apartment units. They will also apply for EarthCraft Virginia Multifamily Certification.

Roanoke City Council will vote Monday to approve the sale of the property.

According to Virginia’s State Corporation Commission (SCC) B-MAT Homes, Inc. operates as 425 Church Avenue LLC and Church and Campbell LLC. Ricky Scott is President of B-MAT Homes, Inc.

Scott Horchler has returned to purchase the Buena Vista Recreation Center for $30,000. Unable to sell their home in Richmond the Horchlers and the city abandoned the contract months ago. They earlier contract had the Horchlers paying $75,000 for the 3-acre Southeast property. That conract was subject to the sale of their Richmond home, This new contract has no such provision.

Posted By Valerie Garner

Categories: Business

Tags:

Comments

No Comments

Comments are not moderated. Notify any abuse at info@roanokefreepress.com put ABUSE in the subject and the offensive post.

Leave a Reply