The building was transformed into an apartment complex through the efforts of the Strollo Architecture Firm. The firm received $1.8 million in State and Federal tax credits to fund the $5.3 million budget for restoring the vacant building. The apartments opened in 2016, and prices range from $1,050 for a studio to $1,600 for the penthouse suite.
The building was constructed with funding from the estate of Thomas H. Wells, a notable businessman and land developer in the early years of Youngstown. Wells was one of the largest owners of the Youngstown Rolling Mill Company, as well as having ties to the coal industry in the area. Thomas H. Wells was elected mayor of Youngstown in 1863 and was known for his charitable donations. Wells passed away in 1905, twelve years before the completion of this building that was named in his honor.