In response to an inquiry from Xpress, First Baptist Church of Asheville and the YMCA of Western North Carolina announced they are “pausing” efforts related to Project Aspire — a vast mixed-use, mixed-income venture — due to a lack of funding for the facility’s parking.
“After many months of work on a [public-private partnership] agreement, a strategy to fund parking has proven elusive,” the May 22 joint statement reads. “After mutual review, our organizations are pausing to re-evaluate our options to ensure that we maximize our opportunities for the greatest impact on our members and the community at large.”
The project, which was approved by Asheville City Council in September, would have occupied 10.5 acres in downtown Asheville. The design included residential units, hotel rooms, commercial spaces, a brand-new YMCA and office facilities, as well as 1,800 parking spaces. Construction was expected to begin by the end of the year.
According to the YMCA’s project page, Project Aspire would have contained 400-650 residential units, of which 20% (80-130 units) would have been deemed affordable at or below 80% area median income ($52,350 for an individual; $74,800 for a family of four). Half of the affordable units would have accepted Housing Choice vouchers.
One of the known funding sources that Project Aspire applied for was the Buncombe County Tourism Development Authority’s Legacy Investment From Tourism Fund, which provides grants for tourism-related capital projects. According to minutes from the March 12 LIFT committee meeting, the project had moved through phase 2 of the committee’s selection process. But the First Baptist Church of Asheville and the YMCA withdrew its application before site visits were conducted during the first week of April.
Below is the full joint statement from First Baptist Church of Asheville and the YMCA of Western North Carolina:
“First Baptist Church of Asheville and the YMCA of Western North Carolina have worked together for over five years on a bold plan to reimagine our neighboring properties for greater community benefit, a concept that came to be known as Project Aspire. Since announcing our plans, we have been encouraged by the community’s support for our audacious goal to create a space where local people could afford to live, work, and play in the heart of Asheville.“A project of this scope requires extraordinary due diligence, careful planning, and public-private partnerships, all of which take time. After many months of work on a PPP agreement, a strategy to fund parking has proven elusive. After mutual review, our organizations are pausing to re-evaluate our options to ensure that we maximize our opportunities for the greatest impact on our members and the community at large.“First Baptist and the Y are still determined to be a catalyst for local community benefit and economic development. The values and priorities we share – including health and wellness services, childcare, affordable housing, and other essential amenities – are unchanged.“In the meantime, both of our organizations are moving forward. First Baptist is committed to maintaining and preserving its national historic landmark and related facilities, and the Y is committed to the idea of building a state-of-the-art wellness facility to serve all.“Our future plans will adapt and evolve as we continue to explore funding strategies and have further discussions with neighbors and community members about their needs. The friendship our organizations have developed is strong, and we are confident we will continue to work together for positive change for years to come.”
