Youngstown OKs $2 million loan for student housing

YOUNGSTOWN — City council gave the go-ahead to a $2 million loan today for a student housing complex near Youngstown State University.

The loan needs final approval from the city’s board of control. The housing developer, U.S. Campus Suites, plans to spend $7.3 million to construct the building, with about 115 beds, on Madison Avenue, near Elm Street. Construction is expected to start in April and take about a year till completion.

The company also plans to build three other student housing complexes nearby.

Also today, council authorized the board of control to give a 10-year, 75 percent real property tax abatement to the Four Seasons Flea and Farm Market.

The market’s main building was destroyed in a June fire. The owners of the market on the city’s East Side plan to rebuild that structure and reopen in April.