CLEVELAND, Ohio -- The YMCA of Greater Cleveland expects to start construction next month on its new downtown branch at the Galleria at Erieview, where the 40,000-square-foot fitness center is set to open in late 2015.

More than two years after the YMCA announced its moving plans, the nonprofit finally has the financing to launch the project. Glenn Haley, the YMCA's chief executive officer, said in an interview Monday that construction should start Sept. 23. The new gym, which will occupy the southeastern corner of the former mall, should be finished by November of next year.

"There are no barriers to getting this done," Haley said.

The project, called the Parker Hannifin Downtown YMCA, will replace the longtime downtown gym at 2200 Prospect Ave. The YMCA has kept those quarters, in a historic, brick building, since 1911. But executives say they need newer facilities and a more central location to attract office workers and appeal to the growing crowd of downtown residents.

"For us to be relevant in the future, we have to be where business is," Haley said.

The Galleria, along St. Clair Avenue between East Ninth and East 12th streets, is surrounded by office buildings and sits just a few blocks from hundreds of new apartments. YMCA executives believe the new facility will help them boost membership from 3,285 today to between 7,000 and 8,000 by 2020.

The gym also will cure some of the vacancy challenges at the Galleria, which has struggled for years thanks to the flight of retail tenants out of downtown. Werner Minshall, the property owner, plans to donate the YMCA's space to the nonprofit next month. The YMCA essentially will own a business condominium and will chip in toward the costs of operating the building.

Minshall could not be reached for comment Monday or Tuesday.

The YMCA has raised $4.48 million from private donors, including Parker Hannifin Corp. of Mayfield Heights, to help pay for the $12.5 million project. Leaders hope to raise $1.1 million more by mid-2015.

Haley wouldn't say how much debt the YMCA is taking on.

The nonprofit had to restructure its downtown deal several times, after encountering fundraising challenges and realizing that the YMCA wasn't likely to find federal New Markets Tax Credits to help cover some of the construction costs. Ohio was largely shut out in the last round of the fiercely competitive New Markets awards, putting a handful of local real estate projects in a bind.

Now, Haley said, "we feel that with the additional debt and continued fundraising, we're at the point where we can take on this obligation with little to minimal risk."

Moving won't impact the YMCA's hours or drive up the cost of memberships. The new gym will offer everything that's available in the existing facility, except for basketball and racquetball courts. Plans show a three-lane lap pool, group-exercise rooms, massage-therapy rooms and a spinning studio.

HealthSpan, an insurance and healthcare provider, will partner with the YMCA to offer services including urgent care, health screenings and nutrition consultations at the new gym.

The YMCA has the option to lease its current space until late 2016. Cleveland State University owns the Prospect Avenue building, which includes the gym, the YMCA's corporate offices and 148 apartments. The university is trying to sell the building, though, and several developers have expressed interest in it.

"Offers were due at the beginning of August, and we are currently negotiating the sale," said Terry Coyne of the Newmark Grubb Knight Frank real estate brokerage, which is marketing the property for Cleveland State.

Coyne wouldn't identify the potential buyers or comment on the likely sale price.