Historic Warren building awarded funds to create new apartments
A historic building in Warren will be getting some of the more than $35 million from the state to complete renovations.
The Ohio Development Services Agency awarded $35,863,038 in Ohio Historic Preservation Tax Credits to rehabilitate 51 historic buildings, including the Packard Apartments.
The building on North Park Avenue will be getting $819,371, with the total project cost at $4,998,163.
Constructed in 1898 by the Packard brothers of automobile fame, the Packard Apartments project in Warren will rehabilitate a building that has been vacant and deteriorating for several years, the Ohio Development Services Agency said. Upon completion, 17 new apartments will be available.
Officials say the building had a previous award, but the project was unable to move forward in time. They were successful in reapplying for credits this round.
"Preserving these historic buildings will transform our communities," said Lydia Mihalik, director of the Ohio Development Services Agency. "The restored buildings are part of the charming neighborhoods that will keep our students here and attract new businesses to our great state."
Developers are not issued the tax credit until project construction is complete and all program requirements are verified, the Ohio Development Services Agency stated.