WARREN, Ohio – Public and private sector leaders predict a $150 million-plus mixed-use project will transform the city and the greater Mahoning Valley.
The city of Warren announced in a news release Thursday afternoon that it had signed an agreement with Springboro-based Dillin Corp. to redevelop the area near downtown known as the Peninsula. The name comes from how the Mahoning River forms an oxbow around the land, exposing both sides of the property to the water.
“We have a unique piece of property that blends perfectly with our philosophy of creating, not just new buildings, but whole new neighborhoods,” Dillin Corp. CEO Larry Dillin said in announcing the project. “We also have great political support from Warren’s mayor and city council, and an excellent relationship with the business community through the Fund for Warren’s Future.”
The project is expected to include a nationally branded hotel, more than 400 residential units, a food hall, parking deck and more than 100,000 square feet of Class A office space, according to the news release.
“It’s a transformational project that will obviously change the conversation about Warren in terms of what Warren has to offer, in terms of creating a whole new dynamic neighborhood that offers everything from retail space to residential living, office space and entertainment,” Mayor Doug Franklin said during a phone interview.
The project, which Franklin estimated would involve between $150 million and $160 million in public and private investment, also will include reducing a portion of West Market Street to two lanes with on-street parking and amenities to make the area friendly to pedestrians. Other public investment responsibilities include streetscape, sewer and water infrastructure.
In addition, the city is in the design and planning stage for a pedestrian bridge, funded by a $4.3 million Appalachian Community Grant awarded in May that would connect the Peninsula to Perkins Park and the Warren Community Amphitheatre.
Dillin said his company had the opportunity to develop the property more than 15 years ago, but he didn’t see a project working back then. “There is a much better economic environment in Warren today, and we are very optimistic about this project’s future,” he said.
Dillin previously discussed the project during the Youngstown/Warren Regional Chamber’s Good Morning, Warren breakfast event in April 2023.
The city has been working with Dillin Corp. for two and a half years and accumulated property over more than 30 years, Franklin said.
In June, City Council approved two pieces of legislation that laid the groundwork for entering into the master development agreement with Dillin. One invested $2 million into the project, and the other gave the city’s administration “wide latitude to sign contracts to support, assist and ensure the planning and redevelopment of the Peninsula and surrounding neighborhoods.”
The city worked with the Fund for Warren’s Future, a group of local businesspeople, for seven years to identify a developer, according to the mayor.
“The goal of the Fund for Warren’s Future was to do something that would be transformative for this community,” said Dennis Blank, administrator of the Fund for Warren’s Future. “We’ve had 50 years of decline, shrinking population and economic activity. We were looking for something that could absolutely reverse that.”
The group raised money to do research to “understand what it would take to do something transformative, and then to find a partner who could help us do that,” he said. About five developers were interviewed in the process, Blank said.
“So we’re very excited about this project, because we believe it has the capability of doing that, of reversing that decline.”
A groundbreaking for the first of three phases is expected to take place this year. Franklin said he anticipates the food hall and possibly the hotel to be the most visible parts of the first phase.
“It’s the perfect space to live, work and play. That’s going to be pretty exciting,” he added.
Other local leaders shared enthusiasm for the project.
“The recent arrival of companies like Ultium Cells and Foxconn, along with upcoming groundbreakings for companies like Amazon, means Warren will benefit greatly with housing and lifestyle options exactly like what is planned for the Peninsula,” Guy Coviello, Youngstown/Warren Regional Chamber president and CEO, said in the news release.
“This aligns well with the recent rollout of the Mahoning Valley Regional Housing Strategy, so I’m very excited to see Warren taking the leadership to create such an appealing new opportunity,” he continued.
“This is a really exciting project,” added Sam Covelli, CEO of Covelli Enterprises in Warren and a member of the Fund for Warren’s Future board. “With all these new companies coming in, that’s going to be a great opportunity for a lot of their executives and a lot of their young people and to have opportunities for housing in the downtown area and a new hotel.
“There’s just going to be one thing after another coming together,” he said. “The pieces are starting to fall in place.”
Anthony Trevena, executive director of the Western Reserve Port Authority, which owns the Reeves Building on the Peninsula, also was among those enthusiastic about the announcement.
The port authority sold 560 acres of land near the Peninsula to consumer products manufacturer Kimberly-Clark Corp. in late 2023, which has yet to announce its plans for the site. In addition to its ownership of the Reeves property, the port authority could play a role in the project through its various development tools, including a property transfer agreement it has with Warren and bond financing and capital lease agreements.
“With pending opportunities for this community to have further employment, you know that we do have an issue with housing availability in the Mahoning Valley,” Trevena said. “Any opportunities that the private sector could come in and play a role in developing more housing for the Valley is a great situation.”
A video detailing the project can be viewed HERE.
Pictured at top: A rendering of the proposed project.