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Huntington signs $500,000 contract for naming rights for Youngstown’s community alley
Huntington signs $500,000, 10-year contract
YOUNGSTOWN
Huntington Bank signed a $500,000, 10-year contract for naming rights for the community alley at the city’s 22-acre riverfront park and amphitheater.
The Huntington Bank Community Alley, under the Market Street Bridge, will open in August.
The Youngstown Foundation Amphitheatre opens next Friday.
The alley will be an outdoor area for community events, festivals, craft shows and markets. It features LED lighting and space for vendors, food trucks and entertainment.
“Before the park and amphitheater even broke ground, Huntington Bank expressed interest in not only supporting the project but contributing financially and developmentally to it,” said Eric Ryan, president of JAC Management Group, which manages the park/amphitheater as well as the nearby Covelli Centre for the city.
William C. Shivers, Huntington Bank regional president for the Mahoning Valley and Canton regions, said: “The overall riverfront park project is very exciting for our community and serves as a visibly appealing gateway to the city of Youngstown. The Huntington Bank Community Alley aligns perfectly with our mission to help make people’s lives better, help businesses thrive and strengthen the community we serve.”
The cost of the riverfront park is $7.9 million.
In addition to the $500,000 from Huntington, the city received $3 million from the Youngstown Foundation for naming rights for the amphitheater, and borrowed $4 million from the U.S. Department of Housing and Urban Development at a 2.59-percent interest rate to be repaid over 20 years.
The rest of the money came from the water and wastewater funds for water and sewer work there.
The amphitheater opens with a free First Look Friday event. There are about a dozen concerts scheduled for the facility.
The work was done by Brock Builders Inc. of North Lima.
The amphitheater has a capacity of about 5,000, with 3,000 in the lawn, 1,500 more in a seating area in front of the stage, which has a concrete base and temporary seats, and another 500 in the VIP area.
The park was built along the Mahoning River from the South Avenue Bridge to just west of Hazel Street.
The amphitheater is on property that includes the former Wean United site on South Phelps Street. The Wean United building was demolished in 2014.