Downtown Hotel Coming

[northside lurker]

I don't understand why they won't invest the money to fix the place.

Easy money.  $50-60k/year with almost no work required.

[AllanY2525]

Yeah, I know.  Hopefully someone will figure out a way to get them over some kind of
legal barrell to get possession of the property....or work out a partnership to fix the
place.

I don't understand why they won't invest the money to fix the place.  With the number
of units and the space (which CAN be reconfigured to get more units) it could be viable
as an apartment building again.  Lot of extra lots around it to make a really fabulous
grounds,met.

[Peggy Gurney]

The owners of the Parkway Towers refuse to sell.

[AllanY2525]

Personally, I have faith that the hotel will happen.  Downtown is where the action--and money--is right now.  When downtown is more built out, I expect the action to move/spread to the Wick Park Neighborhood, assuming YSU can stabilize, or increase, their enrollment numbers.

I have faith that the hotel will happen also.  I also believe that there is enough of a demand for it to succeed (with other business/residential
tenants to supplement the income for the property).  The Stambaugh building is a HUGE building with tons of space - LOTS of possibilities.....
although it needs a lot of work, it is structurally sound and built like a Sherman tank.

Now, if someone would just buy the Parkway Tower apartments and remodel the place, that would bring another 100 or so  residents
to the Wick Park neighborhood, if fully occupied.

[Peggy Gurney]

Allan, a different Dominic owns the Heedy Mansion. (a.k.a. Covington House)  Dom Gatta owns the Heedy Mansion, in addition to (last I heard, anyway) the former Cedars building.  There has been a little work done to the Heedy Mansion, but I wouldn't say work has been progressing quickly, at all.

As for the R&S, remember that the agreement between Mr. Marchionda and Mr. Adi, to open "University Circle" at the old R&S location fell through.  Also, Mr. Marchionda said to expect an announcement regarding the R&S this fall.  So, hopefully something will happen soon.

Personally, I have faith that the hotel will happen.  Downtown is where the action--and money--is right now.  When downtown is more built out, I expect the action to move/spread to the Wick Park Neighborhood, assuming YSU can stabilize, or increase, their enrollment numbers.

AKA Covinton House, the Heedy Mansion was purchased over 2 yrs ago, and yes, work has been painstakingly slow. Mr Gatta also purchased a historic house on N Heights Ave (right across the street from where I used to live until 3 months ago), just a block north of the Heedy Mansion almost 2 yrs ago. He's not done a thing to it except clean out the basement. It's been falling apart, literally. He now has it up for sale, for double what he paid for it. People stop to look at it, laugh, and drive away.   


As for the R&S, that big announcement from Marchionda was a mural painted on the side of the building by a YSU group called YSUscape. 
It's an "ok" mural, but not exactly what the neighborhood association was hoping for.

[northside lurker]

Allan, a different Dominic owns the Heedy Mansion. (a.k.a. Covington House)  Dom Gatta owns the Heedy Mansion, in addition to (last I heard, anyway) the former Cedars building.  There has been a little work done to the Heedy Mansion, but I wouldn't say work has been progressing quickly, at all.

As for the R&S, remember that the agreement between Mr. Marchionda and Mr. Adi, to open "University Circle" at the old R&S location fell through.  Also, Mr. Marchionda said to expect an announcement regarding the R&S this fall.  So, hopefully something will happen soon.

Personally, I have faith that the hotel will happen.  Downtown is where the action--and money--is right now.  When downtown is more built out, I expect the action to move/spread to the Wick Park Neighborhood, assuming YSU can stabilize, or increase, their enrollment numbers.

[AllanY2525]

I remember reading about that.  Perhaps he did the market research and concluded that there are
not [ ** YET. ** ]  enough patrons to support the store project(?). Also read somewhere quite
a while ago that the building needs considerably more work than originally thought.

I read that he received recently purchased the former Heedy mansion on Broadway to renovate
the place and convert it into 5 apartments (thereby bringing more people into the neighborhood).

I'm only guessing here, but I think his strategy is to work on increasing the demand first,
worry about the new grocery store second.  If there was that much demand for a full
fledged grocery store in the Wick Park area already, one would venture to guess that
someone else would already have done it by now(?)

[Peggy Gurney]

Allan, Marchionda purchased the old R&S market on the north side in the Wick Park neighborhood a few years ago, in order to renovate and re-open it, as a service to the WPN and the students in the dorms.
It still sits empty.

[AllanY2525]

Mr. Marchionda has an excellent track record locally and has a habit of finishing projects
once he starts them.  He is also good at raising the capital to do his projects.

Here is some good historical info on the Stambaugh building, along with photos of
the interior:


http://www.abandonedonline.net/locations/commercial/stambaugh-building

[iwasthere]

ytown biker, i am still waiting for 'the city of god' to be built on the former property of Idora pk that is own by mt calvary penecostal ch on ytown ss. they still haven't pd off their tax bill of $150,ooo.

[YoungstownBiker]

I don't see the hotel going through. That property company does a lot of talking but they just kind of throw a lot out there and hope some things stick. I wonder how much progress has been made on the downtown grocery store they were talking about one year ago. 

[AllanY2525]

I was thrilled to read that the hotel is coming to downtown.  A long time ago I posted message(s)
here about "critical mass" in the downtown area, and how each store and business helps the others
by adding to the number - and variety -  of things to see and do downtown.

The fact that this investor is willing to take the plunge is yet another validation that downtown is finally
reaching that critical mass.  If the investor is planning on having multiple tenants in the building, ie:
NOT just the hotel, then that's even better.  They won't have to rely solely on revenues generated by
the hotel.

If the hotel does well, it's very likely they will open a classy restaurant to go with it, ie: a four or five
star restaurant.  I think this would depend on whether the hotel can get enougn "upscale" guests, etc.
Some apartments in the building would be great also - to bring more residents downtown.

My pipe dream would be to open a computer and electronics shop downtown - both sales AND service.
Something that's cheaper than the big box stores and can custom build computers to the consumers
needs (consulting).  Dell computer has been doing this for years.

Maybe offer training classes on using Microsoft Office, Linux, etc as well.

Someone with a little electronics know how could build custom audio equipment and sell it in the
store, also....

[Towntalk]

When bthe Stambaugh Building was first built it housed a major department store on the first four or five floors. Ewer's Department Store.

[Towntalk]

   I know that Italian food varies from region to region thanks to two Italian cooking shows on 45/49. I'm simply saying what I've experienced from childhood onward.

No, I never ate at Roberto's but have dined at other Italian restaurants in town, and while they were good, they left a lot to be desired both in terms of taste and service.

Some of them tasted like the sauces that come out of a bottle. The closest I've found is made by John Ziden. Now his products are good.

But back to the hotel business. Perhaps once it's opened they could hire the Executive chef from the Youngstown Club to be their Executive Chef.

[northside lurker]

You're not judging all other Italian cooking by your mother's friend's cooking, are you?  Italian cuizine varies greatly from region to region, and from person to person.

Assuming you've been to Roberto's, what did you have there?