The historic Mahoning National Bank building in Youngstown and the Packard Apartments in Warren are among rehabilitation projects aiming to restore 57 landmark buildings across Ohio.

The funds will be used to create residential units and apartment spaces.

The projects statewide are expected to leverage approximately $1.01 billion in private investment, according to the Ohio Department of Development.

The projects are receiving funding through the Ohio Historic Preservation Tax Credit Program, administered by the Ohio Department of Development. In total, 21 communities across the state are receiving awards, which total $64,132,847 in tax credits.

“By rehabilitating these historic buildings today, we can preserve the heart of our communities for future generations of Ohioans,” Gov. Mike DeWine said. “Once restored, these sites will help renew local communities and create additional opportunities for Ohioans.”

• Packard Apartments, 318 N. Park Ave., Warren — Total project cost is $6,379,738. The total tax credit is $1,180,629.

Constructed in 1898 by the Packard brothers of automobile fame, the Packard Apartments project in Warren will rehabilitate a building that has been vacant and deteriorating.

While much of the interior historic fabric has been lost, original fireplace mantels and tile surrounds remain and will be repaired, according to the state. Upon completion, 17 new apartments will be available.

The building’s owner, Steve Coon, is part of the Legacy Group that purchased Packard House several years ago, according to newspaper files. This project was awarded a $675,000 tax credit in a previous round and reapplied for increased credits.

The awards statewide will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity. Once rehabilitated, they will drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.

“In many cases, it’s more expensive to revitalize an historic structure than it is to build a new one. Historic tax credits generate opportunity for communities by attracting investment that would not make financial sense otherwise,” Lt. Gov. Jon Husted said. “When we preserve buildings that are part of a community’s historic legacy, we’re preserving the past and investing in the future of our great state.”

“Revitalizing these underutilized spaces creates new opportunities for Ohioans and the local neighborhood,” Lydia Mihalik, director of the Ohio Department of Development said. “These are unique spaces in our communities, and once they are transformed, they will be catalysts for future economic development and growth.”

The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.

• The Mahoning National Bank building, 26 Market St., Youngstown — Total project cost is $12,163,874. Its total tax credit is $1.2 million.

The Mahoning National Bank building, built in 1910, is located in downtown Youngstown. This 13-story building will be rehabilitated into 71 residential units while maintaining commercial spaces on the first four floors. Historic wood paneling, decorative brass doors and Grecian-style marble will be preserved.

In August, Annissa Neider, an architect working for the new owners of what’s most recently been known as the Huntington Bank high-rise, discussed plans with city officials to convert the top nine floors into homes.

“That would entail the first four floors remaining commercial office space very similar to what is now, and then the top nine floors becoming residential space,” she informed the city’s Design Review Committee. Neider’s company is in Canfield.

Neider said the new ownership is a development firm from New York City known as “22 Market Street Ohio LLC.”

She said no changes are planned for the exterior other than “potentially some cleaning.

“We’re just going to breathe a little new life into this building.”