City Savings Bank and Trust Company Building
Alliance, Stark County, OH
The $8.5M LIHTC rehabilitation project was awarded $812,579 for Round 16 OHPTC & took advantage of $1.6M in Federal HPTC. The project received a $4,000 Ohio Pipeline Pilot Initiative Grant.
National Register (#16000602) and Historic Preservation Tax Credit (HPTC) rehabilitation project for approximately 40,000 sq.ft. former bank and office building located in the Alliance downtown commercial district at 449 East Main Street. The 1925-26 Neoclassical Commercial style building is an excellent example of a bank hall and office tower designed by national architects Simons, Brittain & English with offices in Columbus, Oh; Pittsburgh, Pa; and, Philadelphia, Pa. The City Savings Bank & Trust Company was the city’s largest office tower housing local businesses and professional trades. The building was vacant through the 1980s until the Alpha-Alliance Housing Corporation purchased the building in 1990. They received a HUD Section 202 award to convert the former office tower into elderly housing. In 1991, the building reopened as the Lionel H. Newsom Tower providing 14 efficiencies and 36 one-bedroom units for elderly housing with HUD Section 8 subsidy. The project was awarded 2013 Low-Income Housing Tax Credits (LIHTC) financing through the Ohio Housing Financing Agency (OHFA). To meet OHFA requirements, the 50 residential one-bedroom and efficiency units was converted to 42 one-bedroom units for use as low-income housing.
Thomas R. Fuller
Alpha Phi Alpha Homes, Inc.
Architect: Moda Architects, Cuyahoga Falls, OH
Contractor: Tober Building Company