Late summer occupancy seen for downtown apartments

YOUNGSTOWN — Work on an $8.4 million downtown upscale apartment complex should be done by mid- to late June with the first tenants moving in around August.

The major renovation project to turn the once dilapidated office building at 47 Central Federal St. into the Realty Tower Apartments is about 65 percent done, said Bill Sperlazza, development project manager for Management Parking LLC, which owns the property.

Management Parking is among the companies run by Lou Frangos of Cleveland, who owns numerous downtown buildings and parking facilities.

When completed, the 13-story Realty Tower will have 23 apartments, ranging from 1,215 to 2,057 square feet, as well as balconies, a fitness center and a community room with parking for tenants behind the building.

The city’s design review committee approved the building’s plan for balconies, and an enclosed stairwell on its southwest side today.

Also, city council will consider legislation Wednesday permitting the board of control to extend the repayment date of a $2 million loan to Sept. 30 given to Management Parking for the Realty Tower project.

For the complete story, read Wednesday’s Vindicator or Vindy.com