"It's really going to happen here in this community, so we are just so excited," Shawna Cutuli, managing director of membership facilities at the Watertown YMCA, tells CBS New York.
The $27.5 million community and aquatics center is currently under construction, but the Y is still looking for donations to help pay for it.
Right now, it's trying to raise $400,000, with a $200,000 match from the Northern New York Community Foundation and Stewart's Shops.
"We have up to a $200,000 match through the Northern New York Community Foundation and Stewart's Shops," Cutuli says.
"Right now, again, we are reaching out to members, reaching out to the community, reaching out to staff to close down that capital campaign."
The Y is also looking at applying for grant funding through the Restore New York initiative, which aims to encourage community development through the elimination and redevelopment of old structures.
"There are two local businesses," Cutuli tells CBS.
"We are one of them, so we are hopefully going to be submitting that grant as well."
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