1.01 | 2008

YOUNGSTOWN – With about $3.1 million in state and federal grants, the redevelopment of Realty Towers, one of the largest buildings in the city's downtown, is to begin this month.
The Ohio Department of Development awarded $1.9 million to the $8.3 million project through the state's historical preservation program. The Realty project was among 11 to be selected Friday by the state to receive money through the program. The money means the 12-story building, mostly vacant for several years, will finally undergo improvements, said Louis A. Frangos, who owns the 47 Central Federal St. building. Frangos purchased the building with three nearby parking lots for $540,000 on Dec. 14, 2000.
The project should take about 10 months to finish, Frangos said.

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