This is a very big deal in Youngstown.
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.