Erie Terminal sold

March 29, 2007 at 2:24p.m.

YOUNGSTOWN — The city finalized a contract today to sell the Erie Terminal building on Commerce Street for $375,000 to a Cleveland company that wants to turn it into student apartments and retail space.

The city's board of control approved the sale of the six-story structure to USA Parking Systems Inc. The company plans to spend at least $3 million to improve the building, vacant for the past two years.

USA is primarily owned by Lou Frangos of Cleveland. Frangos' other companies own the Wick Building and the Realty Building, both downtown. Those companies want to convert the two buildings into housing complexes.

For the complete story, see Friday's Vindicator and Vindy.com.