With the words K2 Commons emblazoned on a wall behind them, Richard Sontgerath and Truman O’Brien Monday night officially unveiled their plans for the rebirth of the one-time ski manufacturing site a mile south of town.

More than 100 people gathered in one of the structure’s yawning, white-washed rooms, listening to a PowerPoint presentation in what Sontgerath told them could eventually be an indoor tennis court.

Noting that “multi-use” is now the name of the game in the development of large facilities, he added that the tennis courts, under his preliminary plans, could transform into a community space for special events in the evening.

“Our vision is that you’d play tennis by day on this floor and that at night you’d be able to spill some wine on this same floor at a (community) auction,” he told the crowd.

Monday’s event, which occurred right before a Vashon-Maury Island Community Council meeting at the K2 Building, was the first chance for many Islanders to hear about the far-reaching plan, ask questions and actually see the inside of the building — the largest commercial structure on the Island.

They also got to hear more details about Sontgerath’s plan to develop the site, including his vision for a community kitchen, a café, an expansive indoor recreational center and thousands of square feet for nonprofits, commercial enterprises and community facilities.

South Seattle Community College is now in the mix, he said, noting its interest in establishing a satellite campus on Vashon. Sontgerath also noted that he’d like to build affordable housing on some of the land adjacent to the building.

“This is a helluva good start,” he told the crowd.

In a brief question-and-answer period that followed the presentation, Islanders asked about a range of issues, including mass transit to the site, recycling, water use and whether nonprofits could actually afford the space.

Roger Fulton, for instance, asked if there might be bus service; Sontgerath answered that he’d definitely like to see what he called a “K2 shuttle.”

And Hilary Emmer questioned whether Granny’s Attic, which now rents its space on Sunrise Ridge for around $30,000 a year, could afford to purchase a portion of the building under Sontgerath’s proposal to have several entities jointly own it as a kind of condominium association.

“It would not be appropriate to discuss their finances,” Sontgerath answered.

Sontgerath, president of Heritage Group Ltd., a Seattle firm that restores old buildings and develops affordable housing, signed a letter of intent to buy the building for around $5 million, according to people close to the deal. He told the group Monday night that he hopes to purchase the building by next December, when he thinks the King County Library System, Granny’s Attic, the Vashon Health Center and other entities could also be ready to seal the deal with him.

Robert Markovitch, president of K2 Sports, also attended Monday night’s gathering, telling Islanders he was glad that the birthplace of K2 skis stands to become a community asset and Island entity for years to come.

“We’re very interested in making this work. We think it’s the right thing. … The vision is right in line with what we want to see,” Markovitch said.

Several Islanders said they were pleased by what they saw in the presention.

“I think it’s an amazing opportunity,” said Rep. Sharon Nelson, an Islander newly appointed to the Legislature. “The building’s in excellent shape. And the team has the talent and ability to pull this together.”

But Emmer said she’s concerned that the price per square foot — said to be around $150 — would make it far too expensive for the kinds of tenants Sontgerath is talking about.

“The nonprofits on this Island have no money,” she said.