Cascade Plaza's comeback plan gets a $5 million boost from Ohio lawmakers

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.

The Ohio House of Representative approved $2.5 million for Cascade Plaza in February, and the state Senate followed suit by approving a matching amount that was announced Monday.

The funds will go toward repairs to the parking structure that sits beneath the four tower buildings on the downtown plaza.

Malik told the Beacon Journal the project is an essential part of rejuvenating the city's core.

“For Akron," he said, "this funding represents a significant investment in downtown redevelopment as we expand residential and retail uses, while maintaining and growing commercial office usage."

The parking structure, he noted, serves offices, residential buildings and "cultural amenities" — Akron Civic Theatre and its Knight Stage, Lock 3, Cascade Plaza and festivals on Main Street.

"The deck provides space for density to help downtown feel more lively and accessible," he said. "By making needed improvements to the deck, it will enhance its efficiency and experience. This will allow us to continue supporting growth, activity, and density in this critical corridor of downtown."

Who helped Akron secure its slice of Ohio Senate funds?

Malik said state Sens. Kristina Roegner (R-Hudson) and Vernon Sykes (D-Akron) championed the city's proposal in the Senate, and he thanked them for their support.

“I am delighted to see that the City of Akron is receiving this crucial funding to redevelop the Cascade Plaza," Roegner said via email. "As Downtown Akron continues to experience revitalization, this project will help the entire region prosper and grow.”

Sykes, also responding via email, said the project meets the special fund's objective "to invest in innovative and/or transformational projects that will maximize community development."

"The development of Cascade Plaza exceeds this objective," he added. "Its rehabilitation will provide infrastructure that will prove instrumental in the future development of our central business district.”

In a release Monday, Senate Finance Committee Chairman Matt Dolan, R-Chagrin Falls, said projects selected throughout the state "return taxpayers their money through community projects" and "enhance our quality of life."

Cascade Plaza rehab is part of plan for downtown Akron's 'comeback'

Speaking at Cascade Plaza on Wednesday, Malik said securing the funding is a critical step for the city.

"There's tremendous opportunity, especially with the investments we've made in Main Street, (and) some of the other investments we're making, for this really to become a hub of downtown's comeback," he said.

Malik said the hope is that the redevelopment of the plaza will lead to long-term benefits for downtown.

"This investment into the foundation or superstructure can support the overall redevelopment goals of the city," he said.

The USA TODAY NETWORK Network Ohio State Bureau contributed to this report. Contact reporter Derek Kreider at DKreider@Gannett.com or 330-541-9413