Summary
22 Market Street, historically known as the Mahoning National Bank Building, is a transformational mixed-use redevelopment of the 13-story landmark in downtown Youngstown. Once complete, the reimagined property will include office, residential, and retail space, as well as a bank branch office, and will benefit tenants through its proximity to nearby government buildings and Youngstown State University.
C-PACE Opportunity
NGC provided $5.9 million in C-PACE financing to bridge a critical funding gap for the conversion of 22 Market Street. By leveraging C-PACE’s unique structure, the Sponsor avoided significant upfront capital calls while financing 100% of eligible energy infrastructure. C-PACE’s private capital was strategically layered with a $1 million city grant, $2.9 million in state tax credits, and a 25-year tax abatement, allowing for a cost-effective, high-leverage redevelopment of this historic landmark.
