Lake to River Secures $1 Million JobsOhio Vibrant Communities Grant for Downtown Youngstown Redevelopment
YOUNGSTOWN, Ohio– A transformational redevelopment is coming to the heart of downtown Youngstown, as Lake to River Economic Development has secured a $1 million JobsOhio grant to support the reimagination of the former Huntington Bank building at 22 Market Street. The overall $13 million project, led by 22 Market Street Ohio LLC, a New York City investor, will convert the historic structure into a dynamic mixed-use development featuring commercial office space, retail and residential units.
The funds were awarded through the JobsOhio Vibrant Communities Grant program, which revitalizes downtowns and main streets through targeted investments in distressed, small and medium-sized cities across Ohio.
“The restored Huntington Building will preserve the legacy of a historic structure that has shaped Youngstown’s skyline for well over a century while also seizing the opportunity to create a stronger economic future,” said Ohio Governor Mike DeWine. “The newly revitalized property will be both a destination for business activity and a home for new residents who will contribute to a more vibrant Youngstown.”
The 13-story building, long a recognizable fixture in Youngstown’s skyline, will undergo a major revitalization. The first four floors will feature commercial office space, anchored by a yet-to-be-named tenant, while floors five through 13 will be transformed into a mix of 71 studio, one- and two-bedroom rental apartments. The ground level will retain existing retail, including Huntington Bank, ensuring a blend of old and new in this reimagined space.
“As someone with deep roots in the Youngstown community, I'm proud to see this kind of transformative investment taking place in the heart of the city,” said Lt. Governor Jim Tressel. “The revitalization of the Huntington Building will bring a renewed energy downtown, while benefiting businesses and residents alike. This project is a great example of the exciting things we can accomplish through strong local and state partnerships.”
Lake to River played a key role in advocating for state funding, leveraging its direct connection to JobsOhio to underscore the project’s economic significance and secure the necessary investment.
“Revitalizing the historic Huntington Building will boost downtown Youngstown’s resurgence, bringing office and living space, and more jobs along Market Street,” said JobsOhio President and CEO J.P. Nauseef. “With close collaboration with local partners and assistance from the JobsOhio Vibrant Community Program, this project stimulates economic growth, attracts new business and enhances livability in Youngstown’s urban core.”
City officials welcomed the funding as an essential step in advancing downtown’s ongoing revitalization efforts.
“The renovation happening at 22 Market St. [Huntington Building] is the type of project that can be transformational for our downtown area,” said Stephanie Gilchrist, Director of Economic Development for the City of Youngstown. “Not only is this a significant capital investment into Youngstown, but the resulting mixed-use building in the heart of our downtown will provide an opportunity for its residents and businesses to define the live, work and play mantra for Youngstown.”
For Lake to River, this redevelopment represents a tangible example of its mission to drive economic growth and site development in the region.
"At Lake to River, we exist to create economic wins for our communities, and this project is a prime example of what can be achieved when regional and state partnerships come together,” said Alexa Sweeney Blackann, Interim CEO of Lake to River. "By securing this funding, we are not just preserving a building – we are catalyzing new opportunities for downtown Youngstown to grow and thrive."
The project marks a significant milestone in the city’s efforts to repurpose underutilized downtown assets and enhance urban living options. With this investment secured, work is set to begin on the redevelopment in the coming months.
“This investment in one of our signature downtown Youngstown buildings is a strong vote of confidence in the city’s future,” said Lauren McNally, State Representative (D-58). “Revitalizing our urban core is key to making our communities more livable, attractive and economically resilient.”
“Investing in our downtown communities drives local renewal and statewide competitiveness,” said State Senator Al Cutrona (R-33). “The investment in downtown Youngstown is the exact revitalization we need in the Valley.”
About Lake to River
Lake to River is the JobsOhio network partner for Ashtabula, Trumbull, Mahoning, and Columbiana counties, working to accelerate business growth and job creation through site development, business attraction, and workforce initiatives. For more information, visit laketoriverohio.org.