By Jacqueline Arroyo / Jambar Contributor
Youngstown is rebuilding after an explosion at the Reality Tower on May 28. Almost a year later, one of the affected businesses planned its return.
JPMorgan Chase Bank opened a new location in downtown Youngstown’s Stambaugh Building on March 10.
After the explosion resulted in the death of Chase Bank employee Akil Drake and injured other bank personnel, crews assessed the structure to determine whether it could be saved. Ultimately, officials decided to demolish the building.
Julius Oliver, Youngstown’s first ward councilman, said he admired Chase’s decision to return to the city.
“They’re not willing to run from tragedy, it pays homage to the young man who lost his life there,” Oliver said. “Everybody needs to take the same type of spirit that Chase is taking … if we all stay committed to the cause, we can all work together to make something greater happen.”
Although Oliver commended the bank’s commitment to opening a new branch in the city, he also said that the explosion was devastating.
As an elected official, Oliver said he was immediately concerned about the affected residents, and how the explosion would impact the city.
“I was actually leaving my place of business downtown, heading up the Market Street Bridge, when the explosion happened,” Oliver said. “I got a phone call before I even got off the bridge … so I immediately turned around and went back downtown, saw the devastation and it makes me emotional just thinking about what I saw initially.”
Traci Manning, curator of education at the Mahoning Valley Historical Society, said the explosion affected downtown in many ways.
“I mean there were huge effects, you think about the displacement of not only the people that lived in the Reality Tower and the apartments, but the people that lived in the International Tower that was located right behind it,” Manning said.
When planning its new branch, Chase ensured it would support the community. Stephanie Gostomski, executive director of regional communications for JPMorgan Chase, said that the bank’s reopening March 10 demonstrates its commitment to downtown Youngstown.
“This branch reaffirms our commitment to the community following last year’s tragic events. We extend our deepest condolences to the family of Akil Drake and express our gratitude to our impacted teammates and the Youngstown Community for their unwavering support,” Gostomski stated.
Now located in the Stambaugh Building, the bank brings additional business to downtown Youngstown. However, before the DoubleTree by Hilton, Bistro 1907 and Chase moved in, the building faced closure.
Manning said when the Stambaugh Building was constructed in 1907, it was used as headquarters for Youngstown Sheet and Tube. Like many businesses, it underwent changes over the years and sat vacant for an extended period.
Manning said that the building was fortunate to have survived for over 100 years.
“There were a lot of threats that the Stambaugh building was going to be torn down, you know, there were broken windows, the upper floors were completely vacant,” Manning said. “We kind of as a whole community wanted to save this building and that’s when the Hilton DoubleTree came in.”
Renovations began after the building’s purchase, and in 2018, the hotel opened with two restaurants following shortly afterwards. However, the storefront that now houses Chase remained empty, providing an opportunity for a new business.
Although banks can now be located anywhere, that doesn’t diminish its contribution to Youngstown’s history.
“But historically, you know, those outer branches didn’t exist. So if you were doing your banking, you were coming downtown to a downtown banking district,” Manning said.