The Mahoning National Bank building in downtown Youngstown will be rehabilitated into a mixed-use building as a part of a statewide development program.

On Monday, Ohio's Department of Development announced that they are awarding $1.39 million in tax credits to spur investment and development. The development cost is estimated to be $16.5 million.

There are plans to incorporate an event space in the bank vault, commercial space on the first four floors, and 71 residential units on the upper floors.  The expectation is to create 180 construction jobs and 196 permanent jobs.

Mahoning National Bank at 26 Market Street was built in 1910 and is considered a landmark in Youngstown.

This is part of a statewide Transformational Mixed-Use Development Program with nine other projects across Ohio and is expected to generate $2 billion in investments toward the state.

The Ohio Tax Credit Authority approved around $100 million in tax credits to promote investment and development across all projects.

When speaking on the developments, Ohio Governor Mike DeWine said “By prioritizing developments that transform neighborhoods, we’re making Ohio a place where people will want to be—now and in the future.” 

Related material from June of last year can be viewed at the link here.