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The project’s consulting firm is waiting on Youngstown’s Board of Control to authorize the team, then the pre-development process could start as early as January.
Renovations to 20 Federal Place could be up and running as early as the start of the new year, as the project’s consulting firm met with city leaders to review the plan. The structure has been closed since the fall of 2022.
The former Strouss building plans to hold housing units, along with some commercial space.
With much potential based on the building’s size and location, the plan is to redevelop the property into a residential and commercial space.
“About $18 million of that would be financed through the sale of the Ohio Historic Preservation Tax Credit Program,” explained Doug Rasmussen, CEO & Managing Principal of Steadfast City Economic & Community Partners. “Those dollars have been allocated to the building and then the balance of it would be from bond …