A Historic Building With A Bright Future
It is always exciting when a historic building goes under renovation. Like a makeover, the renovation brings a breath of fresh air to a building in need of some TLC. Being in the hospitality industry, we get a little more excited when the renovation leads to a new hotel. And best of all, it’s in our backyard.
The Stambaugh Building which first opened its doors in 1907 will reopen as DoubleTree Youngstown in December 2017.
The Rise
The building has the lengthy history that one would expect from a 109-year old building.
- 1907: Construction is completed on the eight-story, $1.5 million tower.
- 1908: Euwer’s Department Store moves into the lower three levels, selling items from 25 departments.
- 1912: Four more floors would be added to the building.
- 1940’s: Several businesses including Youngstown Sheet and Tube, the Youngstown Automobile Club and Western Union operate out of Stambaugh.
- 1967: The building is sold to Youngstown Realty Corporation for $1 million.
- 2006: Lou Frangos, a Cleveland, Ohio developer purchases the building with plans to fully renovate it into a hotel, but lacks enough funding to do so.
The Fall
By the time the 90’s rolled around, things were starting to look bleak for the Stambaugh Building. The interior condition was deteriorating, and tenants were relocating to the suburbs. The building changed hands several times throughout the late 1990’s into the 2000’s. The building was on its last leg and was in need of a major facelift. Enter NYO Property Group.
The Rebirth
In 2012, Dominic Marchionda, Chief Executive of NYO Property Group purchased the building from Frangos and announced new plans for a $30 million renovation. The end goal of this renovation was to bring a hotel to downtown Youngstown.
DoubleTree Youngstown was announced in November of 2014. The DoubleTree will serve as the first hotel downtown since 1974. The building will feature 134 rooms and provide a perfect place to stay for business travelers, YSU visitors, and Covelli Centre visitors alike. One of the most anticipated amenities is the rooftop bar that will offer visitors a breathtaking bird’s eye view of downtown.
Now guests will be checking in where people once checked out with their new purchases at Euwer’s Department Store 100 years prior. Others will lay down to rest in a room where Youngstown Sheet and Tube executives made crucial business decisions many moons ago. You can even have a drink looking out over the city with the same view that Youngstown Sheet & Tube Chairman and steel industry visionary James Campbell had from his office.
To stay up to date with the construction of the DoubleTree Youngstown, Follow NYO Property Group on Twitter, Instagram, and Facebook.
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