Wick Tower brings new presence to downtown

By Kalea Hall

khall@vindy.com

YOUNGSTOWN

The view from Matt Papan-tonakis’ window inside his 11th-floor Wick Tower apartment shows a city in transition.

The roots of the Rust Belt still are here, but now there’s a burgeoning tech scene.

It’s a mix of old and new – just like Wick Tower.

“They are meshing technology with classical and making it work well,” Papantonakis said.

“They” are the NYO Property Group developers who took a building at 34 W. Federal St. in downtown and instead of demolishing it, brought it to life.

Young professionals, such as Papantonakis, and others have taken notice and taken the step toward city living.

“If you want Youngstown to grow, you have to invest in Youngstown,” he said. “What’s a better way than to invest in your livelihood?”

The Wick Tower adds 35 apartments to the already 79 apartments for young professionals and students. Two other ongoing redevelopment projects will add 30 more apartments to downtown. That brings the total amount of redeveloped apartments to 144.

Wick Tower was built in 1906 and completed in 1910 with 13 floors. The building was used for office space.

The city took over the building after it was donated by Burdman Bros. Inc. in 1993, according to The Vindicator’s files.

In 2005, the city sold Wick Tower to a downtown developer who wanted to turn the structure into an apartment complex.

Wick Tower eventually became vacant until NYO, through its Wick Properties subsidiary, bought the building for $150,000 in August 2012.

In 2014, the city’s board of control approved a financial package for Wick Tower that included a $2.6 million loan with 3 percent interest to be paid back within 18 months, a grant of up to $500,000 for water and wastewater improvements, and a 100 percent, 12-year real-property tax abatement.

The state will provide $3.7 million in tax credits and the federal government will give about $3 million in tax credits, which will be used to pay back the city, according to The Vindicator archives.

“The more residents we have downtown, the stronger our downtown is,” Youngstown Mayor John A. McNally said.

The Wick Tower project has been a multi-million dollar, more than 18-month project for NYO.

“It’s most exciting to see the building come back to life,” said Dominic J. Marchionda, NYO chief executive officer.

The renovated building that NYO expects to have filled by January has 35 fully furnished apartments and 14 extended-stay units.

The extended-stay units require a minimum of a three-day stay in the fully-furnished apartments, including bedding and pots and pans.

NYO offers monthly leasing for the extended-stay units at varying rates. For the apartments, a one-bedroom unit starts at $1,150, but these units are all leased.

Other one-bedroom apartments in Wick Tower start at $1,200. The two-bedroom apartments start at $1,600 and the three bedrooms at $2,100.

All include utilities, cable, Internet and parking.

The Tower also will have a restaurant inside, but details on that have not been released.

Marchionda said this project would have never happened without the collaborative effort with the city and state.

“With their contribution, we are able to get the project done,” he said. “It would have made it really difficult” without them.

The complex is expected to have a grand-opening celebration next month. Its restored marble and golden elevator doors will shine just as its modern, industrial features will shine.

“We tried to capitalize on what the original architecture and design was,” Marchionda said.

Personally, Marchionda loves that they were able to save the marble in the building.

“All the marble, the accents and the lighting we were able to salvage,” Marchionda said.

Papantonakis loves his view, his kitchen, his closet space and his apartment, in general. The 30-year-old works for a local data center company in the city and moved downtown to be closer to work and in the city.

“I grew up in a city,” the Baltimore native said. “I missed the city environment where you can open the windows and hear life.”

The apartment comes with high ceilings, wooden floors and black, silver and white furnishings.

Papantonakis has a direct view of Youngstown State University – his alma mater.

As soon as Papantonakis saw the apartments in Wick Tower, he thought it had amazing potential.

“I think NYO is offering a place for people to invest in themselves and invest in Youngstown,” he said. “I am happy they provided this.”

Living in downtown was the best option for Papantonakis and others, both professionally and socially. It’s surrounded by opportunities for both.

“You become a part of Youngstown,” he said. “To get the most out of it, you need to be a part of it.”