Owners: Demolition of blast-damaged Realty Building is ‘safest’ solution

Dear Realty Tower Tenants,
To begin, we are deeply grateful for your patience as we systematically navigate the next steps in the wake of the tragic explosion on May 28. We acknowledge this has been a time filled with traumatic uncertainty that has left many experiencing a multitude of emotions, including despair and frustration; we share in those emotions and stand with you in your sorrow.

We are working with several entities to ensure the best path forward for the safety and economy of the residents and downtown at large. The City of Youngstown has returned control of the site to Yo Properties 47; therefore, we are now able to provide some updates on behalf of LY Property Management, LLC and the building ownership.

1. Until recently, The city and/or NTSB have been in control of the building security. We are now facilitating building security for the foreseeable future. As such. we will have security controlling access to the building and will not be granting entry to unauthorized personnel.

2. Per several media reports, we can confirm that after consultation with city officials and engineering firms, we have regrettably determined that demolition is the safest long-term solution. We apologize for any mixed messages in the media or elsewhere as we worked diligently to exhaust all possibilities of building stabilization. As an organization, we have spent personal resources and dedicated years to the responsible revitalization of historic buildings in downtown Youngstown. We did not arrive at this decision without careful and thorough counsel. There is no specific date for demolition, but we will keep you updated as this plan is put into action.

3. We are currently working on a plan to retrieve personal items prior to any demolition. The potential for this retrieval will require a highly orchestrated event involving several parties and technologies. Because of this, we are unable to provide a timeline, but we will keep you informed of our progress as we explore all possibilities.

4. As previously noted, all Realty Tower tenants are released from any lease obligations. We expect to return all security deposits to tenants in the very near future. We will update you soon regarding the timing so you know when to expect the deposit refund.

Thank you again for your continued patience.