December 27, 20231 yr Article covers a lot; Shammas is taking broad approach in addressing vacancies in downtown Akron. Sounds like residential conversions are on the table for a lot of the now empty office spaces. Akron is targeting 1-2 thousand more residents to bring in more retail and dining options, it's unclear if that's backed by a study the city conducted or just a number thrown out. Shammas is also trying to get businesses in neighborhoods and suburbs to relocate downtown giving the availability of space and relatively low rates. Shammas recognizes that the hybrid work model seems to be here to stay so the city is not going to grow if they don't embrace this reality. Currently, the city's cash flow from taxes has remained stable, but city officials are keeping an eye on any potential changes from the state in how income tax is calculated when considering work from home. He is also skeptical that city officials have the bandwidth to be able to oversee this project and would like to see the development of a CDC to direct the development of downtown. Short on details, but I think for a high level outline he has an eye on the key points; work from home, changes in income tax calculation, residential conversion, relocating businesses. Either he didn't get into specifics in this article or we need to hope he gets the right people in the right position to lead downtown Akron's growth, nothing wrong with a "big picture" executive that delegates. Amid growing office vacancies, what are incoming Mayor Shammas Malik's plans for Downtown Akron? Ideastream Public Media | By Anna Huntsman Published December 26, 2023
January 4, 20241 yr Author Akron lobbying firm State & Federal now calls Main Street home sweet home Derek Kreider Akron Beacon Journal Akron's slice of Washington D.C.'s K Street has relocated to the heart of downtown. After 20 years at Courtyard Square, just across from the former Quaker Square complex, lobbying and campaign financing compliance firm State & Federal Communications Inc. moved into a new 27,000-square-foot office space on the third floor of the former O'Neil's department store at 222 S. Main St. — overlooking Lock 3 and Canal Park — in October. A public open house will be held on March 25. https://www.beaconjournal.com/story/news/local/2024/01/04/state-federal-communications-settles-into-new-downtown-akron-home/72001841007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=Content List - Stacking - optimized&utm_content=OHIO-AKRON-NLETTER65
January 10, 20241 yr Tony Troppe details $52 million redevelopment of Akron's old Beacon Journal building DAN SHINGLER January 10, 2024 Quote Akron developer Tony Troppe says he’s going to turn the former Akron Beacon Journal building and an adjacent parcel into a mixed-use development consisting of nearly 200 residential units, food purveyors and other businesses. In December, Troppe won $5.3 million in state tax credits for the project, which the state says will have a total cost of $52.2 million, based on Troppe’s application for the credits. Troppe said he has negotiated the purchase of the property from Alabama’s Capstone Development and is in the process of closing the transaction. ... Troppe’s tax credit application shows he plans to build 197 apartment units on the site, which includes the existing Beacon Journal building and an adjacent piece of land that was formerly the site’s parking deck. Troppe said he’ll put part of the project in the existing building and build the rest on the parking deck site. https://www.crainscleveland.com/real-estate/developer-plans-put-52-million-akron-mixed-use-project
January 18, 20241 yr Welty moving ahead with $31 million residential development in downtown Akron January 18, 2024 DAN SHINGLER Quote The building, as it's now being redesigned, would have more than 100 one-bedroom and studio apartments, with a “handful” of two-bedroom units, Taylor said. Rents are expected to be between $1,300 and $1,500 a month. ... Taylor had hoped the state would award Welty just under $3.1 million in tax credits to redevelop the CitiCentre building, at an estimated cost of $31.2 million for a project to be completed in 2025. ... Taylor said he’ll reapply for tax credits for the CitiCentre in April. If he wins in that next round of state awards, he said he’ll move forward with a project at the 10-story site. That includes buying the building from the city of Akron for $1 million, a deal both Welty and the city have agreed upon. https://www.crainscleveland.com/real-estate/welty-hopes-start-31m-akron-apartment-project-2024
January 24, 20241 yr FirstEnergy selling 19-story downtown Akron headquarters, consolidating operations Eric Marotta Jan. 23, 2024 A fixture in downtown Akron for more than 40 years is up for sale as FirstEnergy Corp. works to move its operations to the west side of town. FirstEnergy is selling its 19-story office tower at 76 S. Main Street, seeking $15 million for the property it purchased in December for around $49 million. In 2019, the company signed a 10-year lease extension with building owner McKinley Inc., which would have kept the headquarters downtown until 2035. Summit County property records show that FirstEnergy paid $49 million for the 359,000-square-foot, Class A office building in December. https://www.beaconjournal.com/story/news/2024/01/23/firstenergy-selling-downtown-akron-headquarters-for-15-million/72326941007/
January 24, 20241 yr Did they pay $49M just to get out of lease commitments or other contractual obligations? To be turning around and selling it barely a month later for less than a third of what they paid for it seems odd to me, but if the $49M price was some kind of buyout of other obligations, maybe it could make more sense. I know the office real estate market now is considerably weaker than the residential one, but $15M is still a pretty fair price for that much square footage unless it's falling apart inside, which I doubt it is considering how recently it was vacated. I would love to see a residential conversion, but I've never even been inside this building other than walking through the lobby (never gone past the security checkpoint to the elevators), so I haven't the faintest idea how possible that is even from an engineering standpoint, forget economics.
January 24, 20241 yr 1 minute ago, Gramarye said: Did they pay $49M just to get out of lease commitments or other contractual obligations? To be turning around and selling it barely a month later for less than a third of what they paid for it seems odd to me, but if the $49M price was some kind of buyout of other obligations, maybe it could make more sense. I know the office real estate market now is considerably weaker than the residential one, but $15M is still a pretty fair price for that much square footage unless it's falling apart inside, which I doubt it is considering how recently it was vacated. I would love to see a residential conversion, but I've never even been inside this building other than walking through the lobby (never gone past the security checkpoint to the elevators), so I haven't the faintest idea how possible that is even from an engineering standpoint, forget economics. That's right, the article says the $49M paid by FE was to buyout the remaining 6 years of their 10-year lease. Though it sounds like they are still selling at a discount, Summit County property records show an appraised value of $18.4M. Understandably, it sounds like FE would like to just unload the property.
January 24, 20241 yr Author 3 hours ago, cadmen said: No fan of First Energy but l hate to see them leave the building. 1 hour ago, Gramarye said: Did they pay $49M just to get out of lease commitments or other contractual obligations? To be turning around and selling it barely a month later for less than a third of what they paid for it seems odd to me, but if the $49M price was some kind of buyout of other obligations, maybe it could make more sense. I know the office real estate market now is considerably weaker than the residential one, but $15M is still a pretty fair price for that much square footage unless it's falling apart inside, which I doubt it is considering how recently it was vacated. I would love to see a residential conversion, but I've never even been inside this building other than walking through the lobby (never gone past the security checkpoint to the elevators), so I haven't the faintest idea how possible that is even from an engineering standpoint, forget economics. Hasn't really been occupied since the beginning of 2020. Almost 4 years now. It's been a huge hit for Downtown business ever since. There was an article a couple weeks ago(?) that Welty was going to try a go at the old City Center hotel that Testa was not able to complete. More residential is going to be tough in Downtown right now.
January 25, 20241 yr Another Akron office building up for sale. From what was stated in the article it sounds like the current office leases are stable and it is a diverse mix at about 55% occupancy. So if residential conversion is in the PNC Center's future, I would expect it wouldn't be a full conversion. Though, as yanni pointed out, there's a lot for sale in downtown Akron at the moment. Akron's PNC Center headed to market DAN SHINGLER January 25, 2024 Quote The Development Finance Authority of Summit County is now running the [PNC Center] building, said DFA president Chris Burnham. The building is formally called One Cascade, but it's still known to most by the name of the bank on top of it. ... The building is one of Akron’s five largest downtown office buildings, with about 220,000 square feet of space. The DFA is using about 10,000 square feet of it, and about 55% of the building is currently leased to other tenants. ... DFA’s first priority has been to work with the county and others to stabilize the building. That’s largely done, at a cost of about $1.5 million, Burnham said. The land bank got the building as a deed-in-lieu of foreclosure when its former owner essentially walked away from the building’s maintenance and financial needs, Burnham said. https://www.crainscleveland.com/real-estate/major-akron-office-building-stabilized-heading-market
March 13, 20241 yr Author This is interesting. This is just an application as part of a competitive process at this point. In recent years about 30-40% of the applications are approved for funding. Testa Enterprises, Inc. is proposing the development of the Residences at Ascend, a 71 modern apartment community in downtown Akron. The development will be part of the Ascend Akron redevelopment of the former Akron City Centre Hotel, originally constructed as a Holiday Inn in 1971. Residences of Ascend will provide 71 one-, two- , & three bedroom apartments on floors 4-11 of the 19-story building. The remaining portions of the building will be developed for market rate apartments and community amenities. Residents of Ascend Akron will have free access to all amenities of the Ascend Akron residential community, including a 19th floor pool with panoramic views of Akron, an underground parking deck with 225 dedicated spaces, a 2000 ft2 fitness center, recreation room, and a plaza level restaurant https://ohiohome.org/ppd/proposals/2024/9-Percent/NewAffordability-GeneralOccupancy/ResidencesatAscend.pdf
April 15, 20241 yr Author RFP & RFQ dated Feb. 28, 2024 The City of Akron, Ohio is seeking qualified Architectural/Engineering firms to conduct a site analysis for a variety of sites for the potential relocation of the Akron Police Department Headquarters. Sites will include City owned properties as well as privately owned sites. Sites may include open/green space or contain an existing structure to be renovated. The goal of this project is to determine a site deemed to be most advantageous to the Department of Public Safety, The City, and its citizens for the location of the Akron Police Department Headquarters. The City of Akron is concurrently posting a Request for Proposals (RFP) to developers/owners soliciting proposals for private sites. The City of Akron will shortlist both the private site proposals and public land list for use by the selected consultant. The selected consultant shall analyze shortlisted sites and rank. Included in the ranking but not in the analysis is the current Police Headquarters at the H.K. Stubbs Justice Center (217 S. High Street). These were the shortlisted sites in addition to the existing hq. List dated April 15, 2024 Bellows Street Site Parcel 6764078 Greenfield ASIK Properties. LLC & SAF, Inc. Main & Broadway @ Thornton Street Multiple Parcels Greenfield Rubber City Arches Former Beacon Journal Site 44 E Exchange Street Existing Building ABJ Building LLC 80 West Bowery 80 West Bowery Existing Building Children's Hospital Former St. Thomas Hospital Site 444 N. Main Street Greenfield Summa Health Former Grant St. Hi-Rise 353 Grant Street Greenfield University of Akron Central Hower Community School 145 S. College Street Greenfield University of Akron Wonder Bread Building 178 Forge Street Greenfield University of Akron Morley Health Center 177 S. Broadway Street Existing Building City of Akron Stubbs/County Bldg 217 S. High Street Existing Building City of Akron/Summit County
April 18, 20241 yr Author 'Let's get everything on the table': Akron mayorrr talks about selecting new police HQ Patrick Williams Akron Beacon Journal In his State of the City Address last week, Akron Mayor Shammas Malik expressed the need for a permanent Akron Police Department headquarters, stating that the city "cannot prioritize public safety if we continue to let the current building deteriorate." The department is currently housed in the Harold K. Stubbs Justice Center at 217 S. High St., now 58 years old. https://www.beaconjournal.com/story/news/local/2024/04/18/akron-mayor-shammas-malik-discusses-police-headquarters-site-selection-process/73356182007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=Content List - Stacking - optimized&utm_content=OHIO-AKRON-NLETTER65
April 19, 20241 yr Innerbelt project moves forward with call for design consultants by Kassi Filkins April 19, 2024 Three goals are part of the RFQ: Create a vision for the Innerbelt site that is reflective of the community’s values; create opportunities for financial growth for neighborhood residents adjacent to the Innerbelt site and throughout the city; and promote equity through physical interventions and community benefits. ... According to the RFQ document, the master plan will study two sub-areas of the Innerbelt site. The first, which will make up approximately 80% of the project, will look at the best ways to repurpose the decommissioned one-mile stretch from North Howard to Exchange streets. The remaining 20%, and second sub-area, is the still-active, two-mile section stretching from Exchange Street to Interstates 76 and 77. The project will look at roadway layout and infrastructure as well as identify interventions that will benefit the surrounding neighborhoods. https://signalakron.org/innerbelt-project-moves-forward-with-call-for-design-consultants/
April 26, 20241 yr Author Renovated 159 Main building now home to luxury residential units and mix of businesses Patrick Williams Akron Beacon Journal When Frank Jellison went to refinance his former Portage Lakes condo in 2020, he found out the value of his home had jumped. So, he decided to sell it and signed a lease for a luxury apartment at 159 S. Main St. the following year. https://www.beaconjournal.com/story/news/local/2024/04/26/akron-former-law-building-downtown-now-home-to-apartments-bazaar-159-main/73375790007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=Content List - Stacking - optimized&utm_content=OHIO-AKRON-NLETTER65
May 13, 20241 yr Author Pavilion, trees, gardens, ice skating rinks: Inside the $17.5M renovation of Lock 3 Park Patrick Williams Akron Beacon Journal Scheduled for an autumn 2024 completion, the new Lock 3 is one segment of an ongoing canal and towpath revitalization that stakeholders envision as serving locals and visitors from all walks of life. “I think it's going to be very unique — something that you will definitely see in a magazine that I think people are going to come from out of state, to come specifically just to see this park,” said NeShaunda Lockett, construction inspector at Anser Advisory and the project inspector. https://www.beaconjournal.com/story/news/local/2024/05/13/maynard-performance-pavilion-trees-gardens-ice-skating-patios-benches-renovation-lock-3-park-akron/73544086007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=hero&utm_content=OHIO-AKRON-NLETTER65
June 13, 20241 yr Author Cascade Plaza's comeback plan gets a $5 million boost from Ohio lawmakers Derek Kreider Akron Beacon Journal A $5 million state funding boost for Akron's Cascade Plaza will help to make the block a "hub of downtown's comeback," Mayor Shammas Malik said Wednesday. The city is receiving money for the project from what some lawmakers have called the "super duper fund" — a one-time $700 million local project fund through which Ohio lawmakers can identify and fulfill grant requests. The fund, divided equally between both houses of the state legislature — that was created from federal money that Ohio amassed during the COVID-19 pandemic. https://www.beaconjournal.com/story/news/local/2024/06/13/akrons-cascade-plaza-redevelopment-getting-5-million-from-state/74056476007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=Content List - Stacking - optimized&utm_content=OHIO-AKRON-NLETTER65
July 2, 2024Jul 2 Three sites identified as potential locations for new Akron Police Department headquarters by Doug Brown July 1, 2024 While the final decision has not yet been made, Malik’s office announced on Monday that the police department will either stay put in a potentially renovated Stubbs building or move to one of two nearby spots. ... 80 W. Bowery St. “This 117,000 square foot building was originally designed and constructed in 1950 for retail use and is owned by Akron Children’s Hospital. The current building has recently been prepared for renovation, providing a clean slate for development.” 178 S. Forge St. “This site, submitted by the University of Akron, previously contained a Wonder Bread bakery and offices. That building has been demolished, meaning that, if chosen, the city would construct the station as a new building according to chosen specifications.” https://signalakron.org/three-sites-identified-as-potential-locations-of-new-akron-police-department-headquarters-shammas-malik-brian-harding/
July 2, 2024Jul 2 Author 15 hours ago, Luke_S said: Three sites identified as potential locations for new Akron Police Department headquarters by Doug Brown July 1, 2024 While the final decision has not yet been made, Malik’s office announced on Monday that the police department will either stay put in a potentially renovated Stubbs building or move to one of two nearby spots. ... 80 W. Bowery St. “This 117,000 square foot building was originally designed and constructed in 1950 for retail use and is owned by Akron Children’s Hospital. The current building has recently been prepared for renovation, providing a clean slate for development.” 178 S. Forge St. “This site, submitted by the University of Akron, previously contained a Wonder Bread bakery and offices. That building has been demolished, meaning that, if chosen, the city would construct the station as a new building according to chosen specifications.” https://signalakron.org/three-sites-identified-as-potential-locations-of-new-akron-police-department-headquarters-shammas-malik-brian-harding/ 80 W. Bowery was owned by the city and transferred to Akron Children's in 2018 so they could use the parking lot. Amazing that they needed a study for these selections of existing building, building they owned recently, vacant lot....
July 2, 2024Jul 2 Akron's best scenario would be to enter into an agreement with U.A where the university land is swapped with the city of Akron. The University could expand their footprint downtown by refurbishing the Stubbs center, and Akron builds a new police headquarters at the Wonder Bread site.
July 3, 2024Jul 3 Author 17 hours ago, vulcana said: Akron's best scenario would be to enter into an agreement with U.A where the university land is swapped with the city of Akron. The University could expand their footprint downtown by refurbishing the Stubbs center, and Akron builds a new police headquarters at the Wonder Bread site. I think that would be a decent site for them. Kind of out of the way, at this point at least.
July 17, 2024Jul 17 12 minutes ago, yanni_gogolak said: Lock 3 Update: Can't wait for this to be complete. Was really missing it during the Italian Festival last weekend.
July 17, 2024Jul 17 On 6/5/2024 at 8:14 PM, Silent Matt said: Lock 3 coming along at a GLACIAL pace. Its a publicly funded project - whats the rush? Lol.
July 19, 2024Jul 19 Akron seeks residents’ feedback on Innerbelt project design ideas by Doug Brown July 19, 2024 Three months after the city asked for submissions from urban design consultants for the next steps of the Akron Innerbelt project study area, the four firms under consideration will make their cases at a public meeting. Residents are invited to the event to be held Thursday from 5-8:30 p.m. at House Three Thirty at 532 W. Market St. in Akron’s West Hill neighborhood. The event will also be live streamed on Mayor Shammas Malik’s Facebook page. https://signalakron.org/akron-seeks-residents-feedback-on-innerbelt-project-design-ideas/
August 1, 2024Aug 1 ‘Wrench’ in Akron Innerbelt funding could change project timeline as a federal grant deadline moves up by Arielle Kass August 1, 2024 The urban design consultants the city of Akron is considering to remake the Innerbelt were supposed to have as long as 15 months to talk to community members about what they wanted to happen with the stretch of freeway before applying for federal money to help fund it. But a few weeks ago, the U.S. Department of Transportation consolidated three years of funding into one application, due in September, upending the city’s timeline. ... Already, the city has selected four urban design firms as finalists to create a vision and proposal for what to do with the former freeway that destroyed a predominantly Black neighborhood when it was built in the 1970s. Julien said the original plan had been to choose a firm by mid-August, though he might move up the selection a week. https://signalakron.org/wrench-in-akron-innerbelt-funding-could-change-project-timeline-as-a-federal-grant-deadline-moves-up/ Edited August 1, 2024Aug 1 by Luke_S
August 15, 2024Aug 15 Akron picks urban planning firm to lead Innerbelt redesign master plan Ideastream Public Media | By Zaria Johnson Published August 15, 2024 The city of Akron selected urban planning firm Sasaki to develop a master plan for its redevelopment of the Innerbelt. The goal of the plan will be to better connect the east and west sides of Akron, while correcting historic mistakes which displaced thousands of Black residents for the highway. ... Sasaki will work with the city, project partners and residents to generate ideas before developing the final master plan, Urban Planner and Associate Principal Siqi Zhu said. https://www.ideastream.org/community/2024-08-15/akron-picks-urban-planning-firm-to-lead-innerbelt-redesign-master-plan
August 16, 2024Aug 16 16 hours ago, Luke_S said: Akron picks urban planning firm to lead Innerbelt redesign master plan Ideastream Public Media | By Zaria Johnson Published August 15, 2024 The city of Akron selected urban planning firm Sasaki to develop a master plan for its redevelopment of the Innerbelt. The goal of the plan will be to better connect the east and west sides of Akron, while correcting historic mistakes which displaced thousands of Black residents for the highway. ... Sasaki will work with the city, project partners and residents to generate ideas before developing the final master plan, Urban Planner and Associate Principal Siqi Zhu said. https://www.ideastream.org/community/2024-08-15/akron-picks-urban-planning-firm-to-lead-innerbelt-redesign-master-plan A friend of mine is one of the leads on the Sasaki team. As an Akronite, this choice makes me happy.
August 16, 2024Aug 16 42 minutes ago, ASP1984 said: A friend of mine is one of the leads on the Sasaki team. As an Akronite, this choice makes me happy. Are you going to be able to share early project details?!
August 16, 2024Aug 16 4 minutes ago, Luke_S said: Are you going to be able to share early project details?! I certainly will if / when appropriate!
August 26, 2024Aug 26 Author From kindergarten classrooms to chemistry labs: STEM High finds a new home at Robinson CLC Jennifer Pignolet Akron Beacon Journal When Akron Public Schools STEM High school students learned they would be moving into an elementary school building this fall, they had one question: Would they get to keep the playground? The answer was yes, and the students wasted little time taking advantage of it. https://www.beaconjournal.com/story/news/education/2024/08/26/akron-public-schools-stem-high-starts-school-in-new-home-robinson-clc-as-construction-finishes-nihf/74859673007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=hero&utm_content=OHIO-AKRON-NLETTER65
September 9, 2024Sep 9 Welty plots luxury apartment development for Akron's CitiCenter building Dan Shingler September 09, 2024 Welty Building Co. plans to build more apartments in downtown Akron, which it says would be adjacent — and complimentary — to its nearby big Bowery District development on the city’s newly renovated Main Street. Welty CEO Donzell Taylor said he plans to spend about $30 million to $40 million to buy the long-vacant CitiCenter office building, at 146 Hight Street, and convert it into more than 100 luxury apartments. ... If council gives its approval, Taylor said he plans to convert the building into a 100% residential development, with 117 units. Nearly all of them will be one-bedroom apartments, which he said have proven especially popular at the Bowery and other recent residential developments downtown. https://www.crainscleveland.com/real-estate/downtown-akron-get-117-new-luxury-apartments Free write up from Signal Akron for those without a Crain's subscription: https://signalakron.org/akron-council-to-consider-selling-citicenter-building-to-developer-for-1-million/ Edited September 10, 2024Sep 10 by Luke_S
September 16, 2024Sep 16 Sale in the works for Cascade Plaza’s PNC Center in downtown Akron by Arielle Kass September 16, 2024 The Development Finance Authority of Summit County, which has owned the 23-story [PNC Center at 1 Cascade Plaza] since last year, has a signed letter of intent from a Northeast Ohio buyer at a purchase price of $2.8 million, DFA President Chris Burnham said Monday. He did not identify the buyer and would not say what their planned use for the building might be, but said it “stands to reason” that the building should be in the hands of a development company. ... The DFA, which offers bonds for projects that developers might not be able to obtain on their own, took over the building last year to keep it from entering foreclosure when the previous owner failed to pay some taxes and a bond payment that was due, the Akron Beacon Journal reported at the time. https://signalakron.org/sale-in-the-works-for-cascade-plazas-pnc-center-in-downtown-akron/
September 24, 2024Sep 24 I hadn't seen anywhere else before that Akron was targeting 5,000 residents downtown as the critical mass to attract more amenities downtown. According to the article there are currently approximately 2,800 residents downtown; residential demand remains string and they anticipate hitting the 5,000 mark by 2029 or 2030. Developer revives plan to turn Akron’s former Cascade Plaza hotel into apartments by Arielle Kass September 24, 2024 A stalled plan to turn Akron’s former City Centre Hotel on Cascade Plaza into apartments has been revived. The one-time Holiday Inn and Radisson Inn at 20 W.Mill St. could be turned into 137 apartments, some affordable and some market-rate, according to Testa Cos. President Joel Testa. He said he expects to build 71 two- and three-bedroom apartments that are affordable for residents who make 60% or less of the Akron area’s median income — $57,480 for a family of four. That’s in addition to 60 market-rate one- and two-bedroom apartments and six luxury penthouses. https://signalakron.org/developer-revives-plan-to-turn-akrons-former-cascade-plaza-hotel-to-apartments-joel-testa/
September 25, 2024Sep 25 Not much of an update other than the city is still working towards the accelerated 9/30 application deadline for 3 years worth of funding. Akron races to meet Innerbelt grant funding deadline by Reegan Davis Saunders September 24, 2024 A week before the deadline, the city administration is moving forward with an application for Akron Innerbelt funding. Earlier this year, the U.S. Department of Transportation moved the grant deadline earlier, combining three years’ worth of funding into one application. With a new deadline of Sept. 30, the city needed to speed up the project planning timeline. The city selected design firm Sasaki to assist with the project, moving forward with preliminary plans for the application. At Monday’s City Council meeting, members approved an ordinance that formally allows the application for and potential acceptance of funding from the Reconnecting Communities Pilot Grant Program. https://signalakron.org/akron-races-to-meet-innerbelt-grant-funding-deadline/
October 1, 2024Oct 1 Cascade Plaza has been making a lot of news in Akron lately. This rehab should benefit the Lock 3 refresh, and City Centre Hotel and PNC Center conversions. $400,000 design budget proposed for Cascade Plaza parking deck rehab by Reegan Davis Saunders October 1, 2024 The City of Akron is moving forward with its plans to rehabilitate the Cascade Parking Deck, which sits below Cascade Plaza on West Mill Street in downtown Akron. At Monday’s City Council meeting, the city requested a $400,000 budget for the design work needed to begin construction on the structure. The deck provides parking for the plaza buildings and for downtown venues such as the Knight Stage, Civic Theatre, Lock 3 and Main Street festivals. Earlier this year, the Ohio Senate and House signed off on a total of $5 million in investments for the redevelopment of Cascade Plaza. The city has budgeted an additional $900,000. https://signalakron.org/400000-design-budget-proposed-for-cascade-plaza-parking-deck-rehab/
October 3, 2024Oct 3 4 hours ago, yanni_gogolak said: Looks fantastic. Excited to enjoy the space when it opens.
October 29, 2024Oct 29 Author Akron History Center is beginning to look like a museum Pardon the dust. Workers are unpacking over 200 years of local history for a new museum downtown. The Akron History Center at 172 S. Main St. is a blur of activity. Crews are busy installing 20 truckloads of exhibits in the orange brick building just a couple of doors from the Akron Civic Theatre. https://www.beaconjournal.com/story/news/2024/10/29/akron-history-center-is-a-working-in-progress-on-south-main-street/75774783007/?utm_source=nabj-DailyBriefing&utm_medium=email&utm_campaign=daily-briefing&utm_term=hero&utm_content=OHIO-AKRON-NLETTER65
November 8, 2024Nov 8 Lock 3 Re-opening. https://www.wkyc.com/article/news/local/akron/akron-lock-3-grand-reopening-mayor-shammas-malik-tranformational-projects-new-era/95-72b89901-309d-4da3-982d-080378dd7e7d
November 14, 2024Nov 14 Author Lock 3 to reopen Nov. 29 November 14, 2024 By Staff Writer DOWNTOWN AKRON — Akron Mayor Shammas Malik announced the grand reopening celebration for downtown’s Lock 3 will take place Nov. 29 immediately following the city’s Welcome Santa Parade. The parade begins downtown at Cedar and South Main streets at 6 p.m. and features colorful floats, marching groups, stilt walkers, costumed characters and more. Afterward, the festivities will continue in the newly renovated Lock 3 with music, a ribbon cutting with speakers, and a drone show at 7 p.m. There will be ice carving with a live demonstration, and residents will see The Grinch, Santa and other costumed characters on-site for photo opportunities. Ice skating will be available from 11 a.m. until 11 p.m. for the grand opening. https://www.akron.com/articles/lock-3-to-reopen-nov-29/
November 14, 2024Nov 14 Lookin' good! "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
November 19, 2024Nov 19 Anyone have any insight on this? Is it poor management/decision making from the City of Akron or sour grapes from a developer that lost out on a bid? Some of the quotes make it sound like there wasn't really a development plan and the bid may have been a bit directionless. Developer says more lucrative offer to buy Akron’s PNC Center was rebuffed by Arielle Kass November 18, 2024 The 23-story tower in Akron’s downtown is to be sold for $2.8 million to an unidentified buyer from Northeast Ohio in a deal that’s expected to close next month, Signal Akron reported in September. That buyer signed a letter of intent to buy the PNC Center from its current owner, the Development Finance Authority of Summit County. The DFA has not publicized who that buyer is, and the buyer has not come forward. But Joe Scaccio, the president and owner of Akron-based J-RS Cos., said he offered to pay more for the building — $3 million — and was disappointed that inquiries he made last summer to the DFA didn’t result in an opportunity for him to purchase the tower. He said he expected the PNC Center to cost three times as much as it did and didn’t know why his interest hadn’t been entertained. ... In addition to the $2.8 million purchase price, Akron City Council is considering forgiving up to $170,000 in deferred lease payments the city is owed, Sean Vollman, the deputy director of economic development for the city, told Signal Akron previously. https://signalakron.org/developer-says-his-more-lucrative-offer-to-buy-akrons-pnc-center-was-rebuffed-joe-scaccio/
November 21, 2024Nov 21 Author On 11/19/2024 at 8:44 AM, Luke_S said: Anyone have any insight on this? Is it poor management/decision making from the City of Akron or sour grapes from a developer that lost out on a bid? Some of the quotes make it sound like there wasn't really a development plan and the bid may have been a bit directionless. Developer says more lucrative offer to buy Akron’s PNC Center was rebuffed by Arielle Kass November 18, 2024 The 23-story tower in Akron’s downtown is to be sold for $2.8 million to an unidentified buyer from Northeast Ohio in a deal that’s expected to close next month, Signal Akron reported in September. That buyer signed a letter of intent to buy the PNC Center from its current owner, the Development Finance Authority of Summit County. The DFA has not publicized who that buyer is, and the buyer has not come forward. But Joe Scaccio, the president and owner of Akron-based J-RS Cos., said he offered to pay more for the building — $3 million — and was disappointed that inquiries he made last summer to the DFA didn’t result in an opportunity for him to purchase the tower. He said he expected the PNC Center to cost three times as much as it did and didn’t know why his interest hadn’t been entertained. ... In addition to the $2.8 million purchase price, Akron City Council is considering forgiving up to $170,000 in deferred lease payments the city is owed, Sean Vollman, the deputy director of economic development for the city, told Signal Akron previously. https://signalakron.org/developer-says-his-more-lucrative-offer-to-buy-akrons-pnc-center-was-rebuffed-joe-scaccio/ Without knowing who the buyer is I think it's a little of both. Being that he's not one of the city three T developers (Testa, Troppe, Taylor), I am assuming the buyer has experience with a high-rise and can do better at filling the space. That would be the ultimate goal of the sale in relation to the city needs. My first thought as to the buyer would be Mckinley who owned the FirstEnergy building before they recently sold it to FE and they owne O'Neil's building (last I knew). But I'm also thinking they would be cautious in getting back into a building of that scale given the current office climate.
November 27, 2024Nov 27 Huntington Bank announces pending sale of Akron's Huntington Tower, Cascade Building Jeremy Nobile November 27, 2024 Huntington Bank has announced that it is under contract to sell what has long been branded as Huntington Tower, Akron’s tallest building, as well as the nearby Cascade Building to a yet-to-be-disclosed real estate developer. ... Kris Dahl, spokesperson for the Columbus-based bank, said the transaction is expected to close in the second half of 2025. Dahl said that there is no worker displacement expected as part of the pending relocation of staff from those buildings to its nearby operations center. That relocation is expected to take place sometime during the second quarter of 2025. https://www.crainscleveland.com/real-estate/huntington-bank-selling-akrons-huntington-tower-cascade-building
Create an account or sign in to comment