Luxury Apartments in Downtown Youngstown

This is a very big deal in Youngstown.

08172009rkyrealty9_t600

Ten years ago, people were afraid to walk in the city’s downtown. Next month, a private developer is unveiling luxury apartments starting at $1,200 a month in one of the city’s formerly vacant downtown buildings.

People in the community have been watching with excitement and apprehension as the project took shape over the past year and change. Last year, I was told, only five people lived in Youngstown’s downtown, excluding housing projects. (A friend of mine joked, they were lobbing to have home delivery of the local paper.)

A lot of people are wondering, is there a market for apartments in this price-range in Youngstown, where real estate is notoriously cheap.

The developer of this project, a Cleveland resident named Lou Frangos, is also rehabbing two other downtown high-rises. He received heavy public subsidies for restoring the historic buildings.

3 Comments

Filed under Featured, Real Estate, The Big Urban Photography Project, The Housing Crisis

3 responses to “Luxury Apartments in Downtown Youngstown

  1. Is that carpet? For $1200 a month, I’d expect hardwood floors.

  2. J.R.

    I’m exstatic that this building has been rehabbed, and will be back in use. In a metropolitan area of 400k-500k people, I’m sure there are at least 23 who would like to live here. After all, this is the only apartment complex of its kind in the area.

    I am concerned, however, that the level of finish doesn’t merit the rents that are being asked. Why are they asking high-end prices for an average (if roomy) apartment?

  3. schmange

    This makes me nervous, but kind of optimistic as well. Youngstown is doing the right thing by focusing on it’s downtown as the key to recovery.

    I think the apartment looks nice. It has some pricey finishing. Those are nice looking cabinets and the tile in the bathroom is nice too. Plus, it’s nice to live in a newly remodeled place.

    If these are two bedrooms, I think it might work. Between two people, $1,200 is doable.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s