You are exactly right, so many people will slam this. But the Business/people that makes the investments usually do their homework to make sure they are not throwing away their money.
About 1989, when I was on student council, we hosted an after prom party which was a lot of fun.
I too, was sad when they moved the Y to the base, without a gym and indoor pool, it really is just a workout facility. That was the difference with the Tru-City Y. They had so much happening.
The building is approaching 100 years and in about 1 year it will be open and I am so excited to see how it turns out.