K2 Commons, a proposed development that would turn the former ski manufacturing plant into a center with a swimming pool, bowling alley, restaurant and hotel, is in the process of becoming a nonprofit helmed by a board of well-known Islanders.

The vision remains similar to the one Dick Sontgerath and Truman O’Brien articulated six years ago, when they first announced plans to purchase the 180,000-square-foot structure and turn it into a mixed-use facility. But instead of trying to make the ambitious effort pencil out as a for-profit enterprise, the project is now organized as a nonprofit — one that could be backed by social investors and foundations and with rental proceeds used to support other Vashon agencies, board members said.

Sontgerath, reached Monday night, declined to comment about the project, referring questions to Nancy Foster-Moss, K2 Commons’ project director. Foster-Moss could not be reached.

Five board members, however, spoke enthusiastically and easily about the project — calling it audacious, progressive, challenging and exciting.

“The change to a nonprofit tipped me over,” said Bernie O’Malley, one of seven board members.

When Sontgerath and O’Brien first put forward their vision, some Islanders objected, assuming, O’Malley said, that the project was in the hands of “a developer who would make a ton of money. It didn’t matter if it was true or not; that’s what people thought.”

But with a nonprofit model, O’Malley said, the project just might garner “broad community support.”

“It’s really the way to go,” he said of the nonprofit model.

Patti McClements, another board member and a veteran of Vashon boards, said she, too, found Sontgerath’s vision compelling.

“When Dick called me to talk to me about his intentions and plans for that space, it gave me chills,” said McClements, who runs Puget Sound Energy’s community service center and is the current president of the Vashon Chamber of Commerce board. “It just seemed like such an amazing opportunity for the Vashon community that I knew I had to be part of it.”

But board members also noted that the plan is challenging.

The building, situated on 18 acres, is for sale for $1.5 million, a modest fee for such a large building on a prime piece of property, some have said. But development costs would be high; according to some board members, Sontgerath has said it could take $40 million to realize his plan for the site.

“I think Dick’s vision for it is really exciting,” said Jim Diers, another board member and a leading figure in community development. He helmed Seattle’s Department of Neighborhoods for 14 years before moving to Vashon. “I think it’s going to be really tough to get there. It’s a huge project. … But I think it’s worth putting a little time into, because if it could happen, it would be totally awesome.”

Ken Maaz, the head of Vashon Youth & Family Services and another board member, concurred.

“I think it’s a big project. I think it’s ambitious. But I think it has great potential for the community,” he said.

A site plan for the project on K2 Commons’ website shows a development similar to the one Sontgerath and O’Brien put forward in 2007. Towering bays along the south side of the building would provide space for artists and businesses. An athletic club with a swimming pool would be in the center of the sprawling complex, next to tennis courts and a bowling alley. A hotel, spa, community kitchen and school are also penciled in.

In the plan’s earlier incarnation, a separate 10,000-square-foot building on the northeast corner of the lot — K2’s former machine shop — was slated to become the site for Vashon’s branch library. According to the plan on K2 Commons’ website, that free-standing building would instead become a health center.

According to Art Wahl, the commercial broker for the property, six of the 18 acres comprise a separate lot and could be sold to the Vashon Maury Community Food Bank, which has expressed interest in the land.

The project has changed in some other ways, too. O’Brien is no longer a partner in the enterprise; instead, he said, he’s on the board. Foster-Moss, meanwhile, has stepped in as the second in command. According to the website, she has considerable background in Vashon’s nonprofit sector, as well as 15 years of experience as a designer and product developer for Eddie Bauer and other clients.

Should the project prove successful, proceeds would support VYFS, Vashon’s schools and health care services for low-income Islanders, Maaz said.

“This is very intriguing,” he said. “It’s intriguing to have an entrepreneurial effort like that help human services.”