The City of Warren has partnered with Springboro, Ohio-based real estate development firm Dillin Corporation to transform a mostly-vacant downtown area, known as the Peninsula, into a vibrant mixed-used development.

The Peninsula, named for its location where the Mahoning River forms an oxbow around the land, will feature a "live, work and play" environment, including a hotel, over 400 residential units, a food hall, parking deck and more than 100,000 square feet of Class A office space.

Additional improvements include a redesign of West Market Street into two lanes that will feature on-street parking and amenities to make the area friendly to pedestrians.

Warren Mayor Doug Franklin says, "I could not be more excited about this project. The city has been accumulating this property for more than 30 years."

He continues, "We have been working on the idea and searching for the right developer for seven years, and with the help of the leading businesspeople in Warren via the Fund for Warren's Future, I'm confident we have a great idea and the best possible partner in Larry Dillin."

Youngstown/Warren Regional Chamber President & CEO Guy Coviello says, "The recent arrival of companies like Ultium Cells and Foxconn, along with upcoming groundbreakings for companies like Amazon, means Warren will benefit greatly with housing and lifestyle options exactly like what is planned for the Peninsula.

He adds, "This aligns well with the recent rollout of the Mahoning Valley Regional Housing Strategy, so I'm very excited to see Warren taking the leadership to create such an appealing new opportunity."

Dillin CEO Larry Dillin says, "We had the opportunity to develop much of this property over 15 years ago, but I just could not see it working then. There is a much better economic environment in Warren today, and we are very optimistic about this project's future."

He continues, "We have a unique piece of property that blends perfectly with our philosophy of creating, not just new buildings, but whole new neighborhoods. We also have great political support from Warren's mayor and city council, and an excellent relationship with the business community through the Fund for Warren's Future."

In June, Warren City Council unanimously passed two measures that paved the way for the master development agreement with Dillin.

First is to invest $2 million into the project, and the second is to give the city's administration all access to sign contracts and support, assist and ensure the planning and redevelopment for the Peninsula and surrounding neighborhoods.

The funds will be used for planning and needs of infrastructure improvements including water, sewer and streetscape.

Mayor Franklin also adds, "Warren City Council has been an excellent partner, and there is ongoing exploration of additional resources to support the project. There is more work to be done, and we look forward to the entire plan coming to fruition." 

Phase one of the Peninsula Project will be expected this year.