Partners investing $1.3M to identify Greater Akron sites prime for redevelopment

Local governments and Greater Akron nonprofits are teaming up to analyze large sites for commercial and industrial developments over a two-year period.

According to an ordinance that passed Akron City Council last month, $1.3 million in funding for the analysis will be provided by multiple parties as follows:

• $1 million from a private donor
• $100,000 from the city of Akron
• $100,000 from the Summit County government
• $50,000 from GAR Foundation
• $25,000 from the Greater Akron Chamber
• $25,000 from the Summit County Land Bank

The analysis will look at sites in Akron and nearby suburbs, city of Akron Economic Development Director Suzie Graham Moore told Akron City Council’s Planning and Economic Development Committee in June.

Graham Moore said in an email that Summit County has a lack of available sites that are 25 acres or more with “sufficient utility access” that are ready to develop.

“Improving how we jointly prioritize and focus on site opportunities is a big deal, especially when those opportunities provide for urban reinvestment and location of jobs close to workforce to support quality of life for residents,” Graham Moore said. “Now is a good time to focus on reuse of previously developed land as urban redevelopment.”

Greater Akron Chamber president and CEO says sites need to be ready for companies

Steve Millard, Greater Akron Chamber president and CEO, said “the idea is that we're trying to look forward to benefit the community by putting people on sites that create jobs and create more investment in the region.”

Millard said that in their property search, companies look for specific criteria, including “size, utilities, features, access to transportation.”

He said if sites have been used before, companies want to know if remediation — including improving soil conditions or removing debris — has been completed or still needs to be done.

“In most cases, we’re going to be talking about sites that are either abandoned, sites that are vacant, sites that don't have other development opportunities currently,” Millard said.

Beyond benefiting for-profit companies, Millard said the sites included in the analysis could eventually be the home of nonprofit or government entities.

Development and property transfers can take place during the two-year analysis, he said.

Sites will remain under wraps for now

Graham Moore told the Planning and Economic Development Committee in June that the city will not publicly be sharing site locations “to prevent potential escalation of their price in advance of a deal being made.”

Other project partners participating in site analysis are Team NEO, the Fund for Our Economic Future and Allegro Real Estate Brokers & Advisors, according to the ordinance.

Patrick Williams covers growth and development for the Akron Beacon Journal. He can be reached by email at pwilliams@gannett.com or on X, formerly known as Twitter, @pwilliamsOH.

This article originally appeared on Akron Beacon Journal: Partners investing $1.3M to identify Greater Akron sites prime for redevelopment