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University Park Alliance pleased with momentum of revitalization projects
By Betty Lin-Fisher
Beacon Journal business writer
Published on Tuesday, May 13, 2008
Seven years after the creation of the University Park Alliance, the collaboration to revitalize a 50-block area around the University of Akron is continuing to see results and accelerating its pace, its director says.
The alliance is a collaboration of community leaders from the University of Akron, Summa Health System, the city of Akron and businesses trying to revitalize the area.
Investments have totaled at least $300 million in the last 18 months and the group is expecting a total of $500 million to $1 billion within three more years, said Ken Stapleton, the alliance's executive director.
''The truth is, there's great excitement and people are understanding the value of the location,'' Stapleton said. ''Tell me another downtown that has $300 million in investment in a city the size of Akron. This is good news. This is true movement forward and good momentum.''
Stapleton and Beth Houseman, assistant director, reflected on the five goals the alliance set when it applied for and received a $10 million, five-year grant from the John S. and James L. Knight Foundation in 2006.
Stapleton acknowledged there have been
some projects the alliance hoped would come about that haven't.
For instance, at last year's alliance awards luncheon, Stapleton said there could be a private investment in 2007 worth hundreds of millions of dollars. That didn't pan out, but other projects did, such as the Summa Center housing information technology and finance departments in the renovated post office on East Market Street, and a long-term acute-care hospital next door.
The retail portion of the Spicer Village project along Exchange Street is still on the drawing board but has not been picked up by an individual development group, Stapleton said.
''That's the nature of the business,'' he said. ''I think we're doing extremely well, particularly given the market conditions and the economic turmoils going on nationally.''
Here's how the alliance is doing on its five goals:
• Attract 1,000 new jobs in the area. Officials say more than 700 jobs have been created, with another 300 to come with a planned 72-bed orthopedic hospital at City Hospital.
• Create 500 housing units. This is going slower than anticipated, Houseman said, but more than 80 housing units have been approved, are under construction or have been completed, including the Spicer Village town homes and another student housing project on Sherman Street.
• Attract $500 million in private investment. There is more than $300 million in private investment, a large chunk by Summa.
• See $80 million in civic investments. There have been $52 million in confirmed civic goals, including $15 million in the new Mason Community Learning Center.
• Attract recognition for the city and UA for work in the area. The work has received local, regional and national recognition, including a statewide award for Make A Difference Day, which had more than 800 volunteers sprucing up the area.
Betty Lin-Fisher can be reached at
330-996-3724 or blinfisher@
thebeaconjournal.com.
Seven years after the creation of the University Park Alliance, the collaboration to revitalize a 50-block area around the University of Akron is continuing to see results and accelerating its pace, its director says.
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