Merchants welcome building plans

By KATIE SEMINARA

Merchants hope more people living downtown will mean more business.

YOUNGSTOWN — Realty Tower has more than 80 years of downtown Youngstown history, and Federal Street merchants are hoping apartments proposed by developer Lou Frangos will be the next notch on the building’s time line.

“I’m all for it,” said Rosetta Stone restaurant owner Greg Sop, who thinks the renovations would play a large role in bringing other businesses to the area.

“If the project is completed, it will be a boon for Youngstown. We have to step out of the shadows sometime,” he said.

Today the first steps toward the $8.3 million reconstruction are being taken at a ceremony led by Frangos on the building site. The building is to be turned into 25 apartments, two of which will be penthouses; all the apartments will have at least two bedrooms and two bathrooms.

The apartments will have amenities that include large windows, hardwood floors, in-suite laundry units, high-speed Internet access, and unit security systems.

Although pricing for the apartments has not been disclosed, Frank Weston, president of ERA Tri-Sun Real Estate, believes there is a demand for this type of residential living downtown. “Youngstown is slowly turning around, and these apartments will attract young professionals,” Weston said.

The Realty Tower apartments are not the only new living areas proposed for the downtown area. Frangos also has plans for the Wick Building at 35 W. Federal St. and the Erie Terminal at 112 W. Commerce St.

John Thompson, owner and manager of Tomasino’s pizzeria, is weary of the developing plans because he has heard about them for some time.

“I think it would be great if it happens, but it was supposed to be happening for a couple of years,” Thompson said. “I don’t see how it would be a bad thing, and I wish they would do the Wick Building too.”

Frangos is not the only developer working to build on the number of residents downtown. The Smoky Hollow project that was originally introduced back in 2006 is moving forward as well.

Wick Neighbors Inc., a nonprofit community development corporation, is heading the $100 million project that would bring single family homes, townhouses, condos, and lofts to the area adjacent to Youngstown State University and the downtown business district.

“Smoky Hollow might have a little harder time seeing 100 percent occupancy,” said Weston.

The Smoky Hollow housing might be more desirable to YSU faculty with families or students, said Weston, who thinks the Realty Tower will target mainly young professionals and artistic individuals seeking a lifestyle similar to living in a New York City loft.

Jim Grantz, a real estate broker for Edward J. Lewis Inc., said people’s deciding to move into the Realty Tower will be a result of its price.

“It all depends on the pricing and the product,” Grantz said. “It’s becoming a livable area with all the restaurants and activities, but it all comes down to pricing.”

Remodeling the Realty Tower into upscale living arrangements is to take nearly a year, but once completed, business owners hope to see an increase in their patronage.

“They say every day something changes here,” said Kyong Mitchell, manager of Two Guys Clothing. “The more people downtown, the better for us,” she said.