The Cafaro company revealed on Tuesday that construction of a new headquarters on the site of the Eastwood Mall Complex will be accompanied by the construction of a new hotel.

Fargo, North Dakota based TMI Hospitality, which opened a Marriott Residence Inn at the complex this past May, announced that it will develop a second hotel nearby.

A new Hampton Inn & Suites will be built on the site currently occupied by the Eastwood Expo Center. The new four-story hotel will have more than 100 guest rooms. An opening date is expected in 2016.

The announcement came as Cafaro unveiled drawings of the new 50,000 square foot headquarters, which Cafaro said will be the largest new office building constructed in the Youngstown-Warren region in the past decade.

"It's just the next step, the next chapter and we want our focus at our flagship shopping center here in Trumbull County," said Anthony Cafaro, Jr., Co-President, Cafaro Company.

The new, three story headquarters will be attached to Eastwood Mall. The corporate office entrance will be integrated into the existing mall building on its eastern side, between Dillard's and the Residence Inn. The new office and adjoining conference center will feature a three-story glass atrium, interior skywalks and a sweeping circular staircase.

"The conference center will be probably about a 1,000 seat hall that can hold weddings, exhibitions, expo type events and our office building will be flanking both sides of that entrance," said Rich Partika, Director of Architecture & Engineering, Cafaro Company.

The new building will be the headquarters for approximately 200 employees who direct functions of the Cafaro organization, architects, accountants, construction project managers, attorneys, real estate leasing and marketing experts and other specialists who develop and manage more than 30 million square feet of commercial real estate, as well as the company's investment portfolio.

Exterior building walls will be constructed of glass to provide natural light. The building will also include energy minimizing lighting, heating and cooling systems.

The offices will have direct access to shopping and dining facilities inside the mall, as well as the adjacent three story, 27,000 square foot, Fizek Fitness Center, The Residence Inn hotel, and a soon to be developed conference center will all be under one roof.

The first phase of the project, which encompasses site work, utility relocation and structural steel erection, is almost complete. Bids will be solicited during the coming weeks to select a general contractor for the remaining 80% of the headquarters construction. It is expected that the building will be ready for occupancy sometime in late 2015.

The company was founded in 1949 in Youngstown, and has maintained its corporate offices in that city throughout its history. The company said that the decision to make the approximate 8-mile move was based on an evaluation of the company's ongoing needs, the limitations of the current office design, and plans for future growth.

A statement from Cafaro said that construction is ready to begin on the adjacent Eastwood Conference Center, which has been designed for a variety of business, trade group, and social functions. For meal service, it will be able to accommodate up to 1,000 guests.

The total value of the current phase of the multi-part project (office building, conference center and Hampton Inn & Suites) is estimated to be at least $30 million.

"The Cafaro family has what, 40 malls across the country, Indiana to Pennsylvania, and everywhere. And here we are, with a headquarters, so it means a lot," said Niles Mayor, Ralph Infante.

Cafaro companies, the nation's largest privately held shopping center developer, owns and oversees more than 50 shopping malls, open-air shopping centers and other commercial real estate properties in 10 states.