WARREN, Ohio - The Reeves Building in downtown Warren has a new owner.

The property recently sold to developer Darryl Myers, the CEO of Modern on Property, who has plans to create remodeled apartments and bring back new life to the storefronts outside of the building facing West Market Street.

"Definitely high-end living here. That's always been our aim and the purpose of this building," Myers said.

Myers' realtor and property manager, Missy Parker, with Evenbay Real Estate says the downtown area has a growing interest for higher-end apartments.

The six-story building was purchased for $610,000. It has 61 units divided up into efficiencies, studios, and one-bedroom apartments. Myers is still deciding how he'd like to structure the units when they go to construction.

Myers met with city leaders and Downtown Development Group CEO Mark Marvin on Tuesday to see if he could find ways to partner with other local investors and find local builders for the project.

"Structurally, in terms of infrastructure as it relates to cooling systems, plumbing, and that type of construction, it's probably the biggest challenge that we're going to face," Myers said.

While the Reeves project should take anywhere from a year to a few years to complete, the city is preparing to announce its strategic plan, which includes redeveloping the portion of West Market Street where the building sits.

The portion of West Market Street is known as the peninsula, which runs from Mahoning Avenue to Route 422.

"We've been over the past few years readying this site, readying the peninsula to go for requests for proposals for developers," said Warren Mayor Doug Franklin.

Mayor Franklin is preparing to ask city council to approve multi-use zoning along the peninsula before the end of the year. He says members of council have known about this effort and have been supportive of the city's work to bring new life to this portion of the city.

Until then, an old garage at the end of the street and a former furniture store are expected to be ripped down to make room for the next chapter in what's becoming the city's revitalization.

A new restaurant or a laundry mat are two ideas Myers is considering for the use of the storefront space at the Reeves building.

The rest of the parcels left along the road are described by Franklin as a blank canvas and will be ready for the next developer to move in.