Enclave groundbreaking scheduled for Friday

Staff report

YOUNGSTOWN

LRC Realty of Akron will break ground Friday on its Youngstown State University student-housing and retail complex.

The Enclave is a more than $13 million project that will bring 65 student-housing units with 194 beds in 105,511 square feet and 11,020 square feet of leasable retail space to the YSU campus at the corner of Lincoln and Wick avenues.

It will offer fully furnished one-, two- and four-bedroom units. Amenities will include: a fitness center, free tanning bed, plasma TV and game stations, a computer lab, an outdoor grilling area, Wi-Fi and a bike storage area.

Construction on The Enclave will be finished by summer 2018 and ready for that fall semester, according to Vindicator files.

“We are pleased to enter the Youngstown market and are excited to be developing a community with Youngstown State University,” Frank Licata, president and principal of LRC Realty, said in a statement.

The Western Reserve Port Authority board approved a capital-lease program for the project. The port authority will issue up to $14 million in bonds to finance construction.

Youngstown City Council approved $500,000 in water funds to be used for the project and a $4 million loan with a 12-month term.

City council also is to consider a 75 percent, 10-year tax abatement for the commercial space at The Enclave.

Once the project is completed, the city will consider an abatement for the residential space at the complex.

All of the agreements must be approved by the city’s Board of Control before they are finalized.

LRC Realty completed a similar project at the University of Akron called University Edge, a 578-bed student housing community with several thousand feet of retail space which has a Chipotle, Penn Station Subs and Arby’s.