YOUNGSTOWN, Ohio – The Ohio Department of Development awarded a $1,390,181 million tax credit to support redevelopment of the Mahoning National Bank building downtown.
The project will involve renovation of the 13-story office tower into a mixed-use site including commercial space on floors one through four, 71 residential units on the upper levels and an event space in the basement bank vault, according to a state news release. The building is owned by 22 Market Street Ohio LLC.
The project was one of nine awarded tax credits Monday.
“We are excited to see the continued investment and growth in our city, and especially downtown,” said Stephanie Gilchrist, Youngstown economic development director. “This investment is proof of our resilience and the support the state has for this city.”
The available apartments will be a mix of studio, one-bedroom and two-bedroom units, architect Annissa Neider said. Plans call for units to be available in early 2026.
The project is expected to create approximately 180 construction jobs and 196 permanent jobs at the project site, the news release states.
Last year, the project was awarded a $2 million state Historic Preservation Tax Credit.
“The award of the latest tax credit demonstrates the further development and significance of the project and property being a significant fixture in Youngstown,” Neider said. “We look forward to the continued success of the project and further developing the residential space for residences in the near future.”