The groundbreaking for a new student housing and retail complex at Youngstown State University will take place as early as next month.
Akron-based LRC Realty, developer of the more than $13 million Enclave housing project, said it is focused on starting the project sometime between mid-June and July 1.
The Enclave, at the corner of Lincoln and Wick avenues, will have more than 11,000 square feet of retail space and about 105,000 square feet of housing space.
There will be 65 units in the dormitory part of the complex with a total of 194 bedrooms.
The retail space will have a mix of tenants including restaurants.
Construction will be complete by the summer of 2018, so the Enclave can be ready for the fall 2018 semester.
“We are excited about the student housing opportunities,” said Gary O’Nesti, special-projects director for LRC. “When I went to YSU, there was nothing like this. We like investing in our communities.”
The Western Reserve Port Authority board approved a capital lease program for the project. The port authority will issue up to $14 million in bonds to finance construction.
“We are seeing growth patterns with regard to student housing,” said Anthony Trevena, director of economic development for the port authority. “If we could have a place to keep up with student housing, there’s a lot of short- and long-term benefits.”