Erie Terminal complex downtown ready for occupants
By David Skolnick
Downtown’s latest apartment complex is open for business.
Erie Terminal Place at 112 W. Commerce St. received an occupancy permit and approval from the city’s building inspector Wednesday to open with tenants moving in that day.
About 60 percent of the 65 beds in the 40-apartment building are rented, said Dominic Marchionda, whose company spent about $9 million to convert the vacant structure into housing for Youngstown State University graduate students and upperclassmen as well as young professionals.
“We’re excited to open and to be part of all the activity in downtown Youngstown,” Marchionda said.
Some minor exterior work, such as an outdoor seating area, still needs to be done, but it shouldn’t take long to complete, he said.
All of the building’s interior work is finished, he said.
The monthly rent for the fully furnished apartments, with utilities included, ranges from $775 for a one-bedroom to $1,750 for a three-bedroom, Marchionda said.
Those interested in renting should contact the building’s rental office at 330-743-5287.
The building has housing on the upper five floors of the six-story building with retail space on the ground floor.
Marchionda’s company will receive $3.22 million in state and federal historic-preservation money now that the project is finished.
It also received a $350,000 grant for water utility expenses from the city.
Marchionda’s company finalized the purchase of the vacant commercial building for $740,000 in August 2011, buying it from USA Parking Systems.
USA Parking purchased Erie for $375,000 from the city in June 2007.
It’s the third downtown apartment project in the city in recent years. First, the 23-unit Realty Tower Apartments at 47 Central Federal St. opened in late 2009. Then the 14-unit Federal Building at 25 E. Boardman St. opened in late 2011.