A contractor best known for restoring many of Los Angeles' historic buildings will now try its hand at development.

Ray Adamyk, founder and chief executive officer of Spectra Company, has purchased the vintage YMCA Building in Pomona for $2.65 million, with the intention of restoring the 97-year-old structure.

Located at 350 N. Garey Avenue, the 80,000-square-foot property consists of two free-standing buildings, which are listed on the National Registry of Historic Places.  A three-story brick and terra cotta structure currently features 50 studio apartments, as well as a swimming pool, a basketball court and a gym.

Spectra, which is already headquartered in Pomona, intends to relocate its operations into the YMCA Building following a multi-million-dollar renovation of the property.  Its main building will be converted to a mixture of affordable housing and creative office space, while the athletic facilities and sports courts will be restored to host special events.  A new cafe and coffee bar is planned at the southwest corner of the property.

The approximately $7.5-million restoration is expected to begin later this year, with a grand reopening tenatatively scheduled for early 2019.

The YMCA Building is located just south of the Pomona Station on Metrolink's San Bernardino Line.

Spectra's portfolio includes a range of historic buildings acrosss Southern California, including the Broadway Trade Center in Downtown and Columbia Square in Hollywood.