Youngstown OKs Phased Demo of Wean Property
YOUNGSTOWN, Ohio -- The city's Board of Control this morning approved an agreement that approves a phased demolition of the abandoned Wean United building on S. Phelps Street downtown.
The building's owner, Gearmar Properties Inc., has already started razing sections of the dilapidated building, reports city finance director David Bozanich.
Under the agreement, Gearmar will use its own funds to demolish a portion of the building's east end and rear bay, but leave the high-value section intact. That part of the building contains a 100-ton overhead crane that's suitable for heavy industrial use.
The city has agreed to use a portion of a $1.7 million Clean Ohio grant and another $500,000 of city money to remediate the site, Bozanich said. In turn, the city would take possession of the property.
However, Gearmar has the right to lease the remainder of the building -- about 120,000 square-feet -- to a tenant by May 1, Bozanich explains. Should that happen, the city would return the building and land back to the developer. Should no tenant come forth, work would move forward on demolishing the rest of the building and the city would own the parcel.
"It would be a redevelopment or complete demolition of the site," he said. "We'll be in control of the process."
Initially, the city had earmarked the entire structure for demolition, Bozanich said, until two prospective industrial tenants expressed interest in locating operations there.
After conducting due diligence, both parties concluded that the site wouldn't fit with their respective projects, Bozanich said.
"We've worked with the owner for several years," remarked Mayor Charles Sammarone. "It came to a point and we finally turned it over to prosecutor hearings [regarding code violations.] Over the last eight or nine months, we've been very successful in getting private owners to use their own money and tear these down."
Bozanich said should the structure be razed, the 11 acres it sits on would be cleaned, graded and turned into a city-owned parking lot. Additional plans for the parcel could include venues that would compliment the Covelli Centre downtown, such as an outdoor amphitheater.
"We're still talking about that," Bozanich said.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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