Blue & Gold Posted January 15, 2008 Report Share Posted January 15, 2008 Here's more good news concerning downtown redevelopment from today's ABJ! http://www.ohio.com/news/top_stories/13790147.htmlWhat's good for downtown is good for the U. What's good for the U is good for downtown. With the possible exception of the Quaker Square situation (which I have mixed feelings about) downtown and UA is a great symbiotic relationship. Downtown is truly becoming an attractive place (for anyone, especially potential UA students!) to relax and party! Quote Link to comment Share on other sites More sharing options...
ZippyRulz Posted January 15, 2008 Report Share Posted January 15, 2008 So the city pays $3.5 million for 6 buildings it then sells for $6 and says what a great deal it is for someone to take them off their hands. I'm glad I don't pay taxes in Akron. Quote Link to comment Share on other sites More sharing options...
g-mann17 Posted January 15, 2008 Report Share Posted January 15, 2008 So the city pays $3.5 million for 6 buildings it then sells for $6 and says what a great deal it is for someone to take them off their hands. I'm glad I don't pay taxes in Akron. It's a good deal because the city didn't have to spend more money to redevelop or refurbish buildings that for the most part were on the verge of being condemned. The management company is now going to spend 21 million to redo the buildings. Now imagine if the city had spent that on the properties and tried to bring in enterprises on their own? Yes huge loss of money, instead the city purchased the property and screened investors to make sure something that served the public interest went into this property instead of porn stores and Banana Joe's wantabes. Quote Link to comment Share on other sites More sharing options...
ZippyRulz Posted January 15, 2008 Report Share Posted January 15, 2008 I'm confused. How were they worth $3.5 million if they're on the verge of being condemned? Would a private investor come in and pay that much plus a lot more for rehab to operate a porn shop (in the internet age...with competitors down the street) or bar? And if they would, why didn't they offer a little more to outbid the city? I agree it's a good thing the city is not trying to redevelop the property itself. I think the story behind the story is who previously owned the buildings and who did they know on city council at the time? Quote Link to comment Share on other sites More sharing options...
ZachTheZip Posted January 15, 2008 Report Share Posted January 15, 2008 I'm confused. How were they worth $3.5 million if they're on the verge of being condemned?Location, location, location. They're in downtown on Main Street right near Lock 3. The actual buildings are built overtop of the Ohio and Erie Canal, and there has been talk of having the towpath run right through where they are built. This is exactly where you want to put restaraunts, retail, and possibly high-end appartments. It's a batch of near-condemed buildings in the most central part of downtown where the most economic developement needs to happen. Quote Link to comment Share on other sites More sharing options...
ziptrumpet87 Posted January 15, 2008 Report Share Posted January 15, 2008 Pretty close to the center of downtown and would be walking distance to Canal Park (and the arena concept site), library, restaurants on Market or Exchange, Lock 3, not to mention a front row seat to the fireworks! Quote Link to comment Share on other sites More sharing options...
g-mann17 Posted January 16, 2008 Report Share Posted January 16, 2008 I'm confused. How were they worth $3.5 million if they're on the verge of being condemned? Would a private investor come in and pay that much plus a lot more for rehab to operate a porn shop (in the internet age...with competitors down the street) or bar? And if they would, why didn't they offer a little more to outbid the city? I agree it's a good thing the city is not trying to redevelop the property itself. I think the story behind the story is who previously owned the buildings and who did they know on city council at the time?Six buildings purchase for a combined 3.5 million is 583,000 a piece. For property that is in the heart of downtown, and are mostly 2 - 3 story comercial buildings that is an incredibly reasonable purchase price. Quote Link to comment Share on other sites More sharing options...
ZippyRulz Posted January 16, 2008 Report Share Posted January 16, 2008 So the taxpayers only lost $583,000 per building...it doesn't sound so bad when you put it that way. If it's such a prime location then it should be worth more than $6 to the developers. If the cost of asbestos removal, etc. is so prohibitive then the city should have been able to get the property for less money than what they paid. I can understand the city wanting to control what gets built there but it seems like they absorbed too much cost for the option as a middleman between private parties. Quote Link to comment Share on other sites More sharing options...
Zipsrifle Posted January 16, 2008 Report Share Posted January 16, 2008 I think the key here is that the properties were purchased nearly a decade ago. I interpret this to mean that the city either did it to keep the area around the Civic theater (or maybe even the theater) from being razed for other development or, they thought it was a good deal. Now, today, they finally have someone to redevelop the existing buildings. Is it a loss for the city and an unwise use of tax dollars? Depends. The city will be bringing in approximately $300,000 every year in taxes from this project, so the payback at this point in time really doesn't cover the initial cost. But, if this specific redevelopment continues or even further spurs reinvenstment in downtown, then it was a good use of tax dollars. Think about it, the existing area surrounded by Exchange, Cedar, Main, and Broadway will become student housing in a few years, and this will be a candidate to replace that lost space. IMO, this is a very good thing. I remember my first trip to Downtown Akron, my Freshman year. I was not a good area to be in and I didn't go back for probably 2 years, even though I lived in Grant and the Townhouses. I wonder, did the purchase of Q Square give this redevelopment a push???? Got to wonder! Quote Link to comment Share on other sites More sharing options...
flipthezip Posted January 16, 2008 Report Share Posted January 16, 2008 All the re-development of small buildings in the world downtown won't allow the city to overcome the problems that keep people from heading down there:1. The Mayflower Hotel and its colorful cast of residents2. The Metro bus line up each evening and its cast of characters3. Real shopping, restaurant, and entertainment options. Look at the large successful areas around - ie. Fairlawn/Montrose, The Strip/Beldin Village. Quote Link to comment Share on other sites More sharing options...
ziptrumpet87 Posted January 16, 2008 Report Share Posted January 16, 2008 All the re-development of small buildings in the world downtown won't allow the city to overcome the problems that keep people from heading down there:1. The Mayflower Hotel and its colorful cast of residents2. The Metro bus line up each evening and its cast of characters3. Real shopping, restaurant, and entertainment options. Look at the large successful areas around - ie. Fairlawn/Montrose, The Strip/Beldin Village.There sure were lots of people at the art museum last Saturday! Had to wait to get in to the exhibit!1. Where should the Mayflower residents go?2. The Metro lineup should be solved when the new bus terminal is completed and the lineup moves south of Gojo.3. The chain restaurants are not in downtown, and I think that's OK. I'd like to see more small restaurants like Crave, Big City Chophouse, Bricco, etc. They usually have better food. There is some entertainment downtown (arts, sports, towpath, museums, etc.), but no movie theatres. I still can't figure out what everyone means when they say there's no entertainment there. Other than UA bookstore, Quaker and the Canal Park store, you seem to be correct that there isn't much shopping there. With all the students in the new Main St. apts/dorms, Quaker dorms, Northside Lofts, and now this new proposed development, I would think shops would start to think about locating downtown. Quote Link to comment Share on other sites More sharing options...
Zipsrifle Posted January 17, 2008 Report Share Posted January 17, 2008 All the re-development of small buildings in the world downtown won't allow the city to overcome the problems that keep people from heading down there:1. The Mayflower Hotel and its colorful cast of residents2. The Metro bus line up each evening and its cast of characters3. Real shopping, restaurant, and entertainment options. Look at the large successful areas around - ie. Fairlawn/Montrose, The Strip/Beldin Village.Valid points. Retail is essentially non-existant in downtown. As for the museum, I think it's great. The Wife and I went there for the Normal Rockwell exhibition. Great, great facility! Quote Link to comment Share on other sites More sharing options...
Blue & Gold Posted January 20, 2008 Author Report Share Posted January 20, 2008 All the re-development of small buildings in the world downtown won't allow the city to overcome the problems that keep people from heading down there:1. The Mayflower Hotel and its colorful cast of residents2. The Metro bus line up each evening and its cast of characters3. Real shopping, restaurant, and entertainment options. Look at the large successful areas around - ie. Fairlawn/Montrose, The Strip/Beldin Village.Valid points. Retail is essentially non-existant in downtown. As for the museum, I think it's great. The Wife and I went there for the Normal Rockwell exhibition. Great, great facility!I brought 3 friends to the OU game. We went out to eat before the tip-off. First we went to Luigi's; there was a line out the door! So we went & parked in the new parking deck next to the Akron Art Museum. We walked by the A-Art Museum on our way to the Big City Chop House - it was quite crowded too! Firstly, I was proud to walk my friends by our new, RADICAL, avante guarde Art Museum! It was all glass, stainless steal & glowing purple! They were gawking! Secondly, we had AMAZING ($$$) steaks at the way-Soho-cool Big City Chophouse! I HIGHLY recommend it - if you've got some dimes to drop! Thirdly, we got to experience an amazingly INTENSE elite-mid-major basketball game at the deafeningly pumped-up JAR! And the Zips won on a tip-in! Man, what a great night on the town! We are gettin' it on! Quote Link to comment Share on other sites More sharing options...
ziptrumpet87 Posted January 20, 2008 Report Share Posted January 20, 2008 I like parking in that deck and eating at the Chophouse also. The museum looks better from High St IMHO. There's ALWAYS a line at Luigi's. Other nice places to check out in that area are the glass blowing at the gallery across the streed from Luigi's (Saturday evenings, I think), and Crave. There's a few other places in the area there (Mocha Maiden, Northside Grille, Vegeterrean, and a few other galleries), but I haven't been to them yet so I can't recommend or not. On the other end of downtown, try the Hunan restaurant on Exchange near Canal Park (next to where the new student apts are going in) and Spaghetti Warehouse near the Gojo and AES buildings on Main. Quote Link to comment Share on other sites More sharing options...
Blue & Gold Posted January 21, 2008 Author Report Share Posted January 21, 2008 I like parking in that deck and eating at the Chophouse also. The museum looks better from High St IMHO. There's ALWAYS a line at Luigi's. Other nice places to check out in that area are the glass blowing at the gallery across the streed from Luigi's (Saturday evenings, I think), and Crave. There's a few other places in the area there (Mocha Maiden, Northside Grille, Vegeterrean, and a few other galleries), but I haven't been to them yet so I can't recommend or not. On the other end of downtown, try the Hunan restaurant on Exchange near Canal Park (next to where the new student apts are going in) and Spaghetti Warehouse near the Gojo and AES buildings on Main.Down on the southside of downtown I also like Bricco and the food in the restaurant inside of the Posh Nightclub is great! Of course I'm very excited to see what establishments move in once the new 4-story apartment complex is built! Quote Link to comment Share on other sites More sharing options...
Sergeant Zip Posted January 21, 2008 Report Share Posted January 21, 2008 I like parking in that deck and eating at the Chophouse also. The museum looks better from High St IMHO. There's ALWAYS a line at Luigi's. Other nice places to check out in that area are the glass blowing at the gallery across the streed from Luigi's (Saturday evenings, I think), and Crave. There's a few other places in the area there (Mocha Maiden, Northside Grille, Vegeterrean, and a few other galleries), but I haven't been to them yet so I can't recommend or not. On the other end of downtown, try the Hunan restaurant on Exchange near Canal Park (next to where the new student apts are going in) and Spaghetti Warehouse near the Gojo and AES buildings on Main.Down on the southside of downtown I also like Bricco and the food in the restaurant inside of the Posh Nightclub is great! Of course I'm very excited to see what establishments move in once the new 4-story apartment complex is built!Check out this website for Downtown Dining. http://www.downtownakron.com/dine/ Quote Link to comment Share on other sites More sharing options...
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