YOUNGSTOWN, Ohio – The stabilization of a critical section of downtown Youngstown was a major reason behind Western Reserve Port Authority’s recent purchase of two buildings there.
During their Sept. 18 meeting, members of WRPA’s board of directors voted to purchase City Centre One, 100 E. Federal St., for $3.5 million, and the Commerce Building, 201 E. Commerce St., for $2.5 million.
“We want to continue the legacy of what the Mills family has done for this part of downtown for over 50 years,” Anthony Trevena, WRPA’s executive director, said.
The downtown buildings are among the properties that Ohio One Corp., a longtime downtown landlord owned by the Mills family, placed on the market in 2021, the year it sold the Rica Building, 117 S. Champion St. Last year it sold the IBM Building to the Mahoning Valley Historical Society. Ohio One Corp. is headquartered in the Ohio One Building, 25 E. Boardman St.
Richard Mills, Ohio One’s president, has plans to retire, along with his sister, Kathy, who is Ohio One’s secretary/treasurer, and Bart Felger, senior vice president.
Trevena noted that the Ohio One properties had been on the market for some time and had not been purchased by other entitles and the port authority felt the time was right to acquire them.
It isn’t unusual for the port authority to hold properties, as with the former Boardman bank property that it redeveloped for a new commercial center anchored by Dunkin’ Donuts, he said. The port authority is headquartered in City Centre One, as are several of its economic development partners, including the Youngstown/Warren Regional Chamber, Eastgate Regional Council of Governments and, most recently, Lake to River Economic Development, the new JobsOhio partner.
“I guess you could call it a one-stop shop for economic development,” he said. “So, we did have a vested interest in the future of this building’s ownership.”
The City Centre One and Commerce Building deals are expected to close by the end of the year, according to Trevena. Ohio One’s office and maintenance staff will continue to manage the properties.
In addition to WRPA, which has been in City Centre One since 2019, Regional Chamber, Eastgate and Lake to River, the building houses the Youngstown Foundation and Mahoning County Land Bank.
Private sector tenants in City Centre One and the Commerce Building include Cohen & Co., PNC Bank and the Better Business Bureau of the Mahoning Valley Inc.
Although the east end of downtown, where the two buildings are located, is “not unstable, per se,” the area has had several setbacks in recent years, Trevena said. A May 28 natural gas explosion led to the demolition of Realty Tower, and the closure of Eastern Gateway Community College leaves the fate of its two downtown buildings uncertain. The upper levels of the parking deck at Eastern Gateway’s Thomas Humphries Hall building are also closed and in need of extensive repairs.
“It’s no secret that the port authority’s responsibility is to step into those arenas where we are doing a community benefit,” Trevena said. “We need to stabilize this part of downtown.”
Richard Mills, president of Ohio One Corp., said WRPA has been a “great” tenant that is transitioning into being a great owner in downtown Youngstown. “Their dedication to our region helps to ensure that City Centre and the Commerce Building will remain in good hands,” Mills said.
City Centre One was built in 1973 by Ohio One’s principals before the company was formed. The developer acquired the former Haber furniture store building in 1987 and redeveloped it for office space.
One of the Commerce Building’s key tenants is Steelite International, which operates a global showroom on the building’s fifth floor.
The strategic acquisitions strengthen the east end of downtown as a key driver of economic development and professional services at this critical time, according to the WRPA statement. Many businesses and community organizations have been rooted in these properties for decades.
“This acquisition, along with other regional efforts such as the continued operation and development of the Youngstown-Warren Regional Airport and the BDM Steel site redevelopment for Kimberly-Clark, reaffirms our commitment to driving growth and increasing property values across Mahoning and Trumbull counties,” Marty Loney, chairman of the WRPA board of directors, said.
Pictured at top: The Commerce Building was recently purchased by the Western Reserve Port Authority.