UPDATE ON DOWNTOWN APARTMENTS

[irishbobcat]

Maybe they'll end up being YSU Student Condos or apartments......

[northside lurker]

If they really want to get working class folks living downtown, they need to rehab
(or build from scratch) an apartment building that average folks can afford to
rent, say... $500-750 per month? plus utilities?

Mr. Frangos, who is the only one I'm aware of who is currently interested in providing new places to live downtown, only seems interested in providing upscale living.

I wish the Realty Building project every success, but as others have said here
it is entirely too expensive.  Most peopel with that kind of money are gonna live
in Boardman or Canfield.

When I bought my house, I chose to live in the city.  The bank said I would qualify for a mortgage of up to $90k. (I didn't even look then, but I'm pretty sure I could find a place in any of the suburbs for that price now.)  Instead, I chose to live in the city.  As the article said, they only need 23 people.

For what these apartments cost to live in for 5 years, you could just about build
a brand new (albeit smaller) energy efficient single family home.

Yes, and for what it costs to lease a Lexus for 5 years, you could probably buy a Cobalt.  But, I doubt the person looking at the Lexus would be very interested.

----

I've written about this before, but here's what I wish Mr. Frangos would do:

1. Abate the asbestos from the Stambaugh building. (I've seen pictures of a couple old buildings after they have been abated, and they usually look like the stereotypical loft-style space.)

2. If there is original detail in the common spaces/corridors, restore it.

3. Build 2 hr rated stud walls to create separate units on each floor.

4. Build out very basic kitchens and baths and install a furnace, so that someone could live in the raw space if they wanted to.

5. Sell off the space (cheaply) as condos, so that people could finish the space (or not) as they want.

[Leah]

$1400 a month pays my house payment on the West Side 3 times with a bit of money left over.

[AllanY2525]

If they really want to get working class folks living downtown, they need to rehab
(or build from scratch) an apartment building that average folks can afford to
rent, say... $500-750 per month? plus utilities?

I wish the Realty Building project every success, but as others have said here
it is entirely too expensive.  Most peopel with that kind of money are gonna live
in Boardman or Canfield.

For what these apartments cost to live in for 5 years, you could just about build
a brand new (albeit smaller) energy efficient single family home.

[northside lurker]

I say Good Luck. Their gonna need it. Who the heck would pay $1400 a month (or more) for an apartment in Youngstown? You can buy a nice house in the suburbs for less per month.

While I agree that $1400+ per month is high, where can I find a 12th floor apartment in an 84 year old building with a view of downtown in the suburbs?

My brother pays less for a similar sized apartment in a great neighborhood in Akron. Within walking distance to a grocery store, pharmacy, movies, etc.

I don't know much about living in downtown Akron, but I suspect there was some urban pioneering there, too.  I bet downtown Ytown won't see more grocery stores, pharmacies, etc. until more people (with disposable income) start living there.

[Why?Town]

I say Good Luck. Their gonna need it. Who the heck would pay $1400 a month (or more) for an apartment in Youngstown? You can buy a nice house in the suburbs for less per month.

My brother pays less for a similar sized apartment in a great neighborhood in Akron. Within walking distance to a grocery store, pharmacy, movies, etc.

I may sound negative here but reality isn't always positive.

[Towntalk]

http://www.vindy.com/news/2008/nov/30/upscale-downtown-luxury-apartments-detail-heart-/