More new housing coming downtown

High-profile block to evolve

A prominent block of downtown real estate is about to become the central city's newest address for residential living.  Mayor Don Plusquellic introduced developer Marty Mehall of Richland Communities, Ltd. of Middleburgh Heights to reporters at his weekly news conference this morning.  Mehall, who for 24 years has built single-family homes in Ohio and Florida, has more recently developed apartment communities in Akron, Avon Lake, Kent and Cuyahoga Falls.  His company has also begun creating student housing around Kent State University.

The apartment community in downtown Akron will be exclusively for students attending the University of Akron and be created in the block bounded by Main, High, Exchange and Cedar streets. 

Mehall told reporters, "There is an ever increasing demand here for student housing, and what we're producing is high-quality, market rate apartments with the wonderful amenities offered by downtown Akron living."

Richland Communities, Ltd plans to build 150 units to house 450 persons who will rent by the bedroom instead of by the entire unit.  "That way," Mehall said, "when students leave a unit, their former roommates won't have to absorb his or her share."

Units will be completely furnished and have two beds, three beds or four beds.  Every bed will have its own private bathroom and each unit a full kitchen and its own laundry facilities.  The rooms will be computer-ready with high-speed internet access (both wired and wireless).  Student rent will be from $649-$749 monthly and include all utilities.  Mehall plans a fitness center, game room, study rooms and more in the complex.

Within the block to be developed, the office building at 12 East Exchange Street will remain and the Richard Howe House will be relocated just a few blocks away.  Currently at the corner of East Exchange and South High streets, the Howe House is a canal-era landmark.  Known as the Howe Mansion by travelers on the Ohio & Erie Canal, this 1836 high-style Federal structure was the home of Richard Howe, the resident engineer of the Ohio & Erie Canal in the mid 19th century.

The City of Akron plans to reposition the canal engineer's house to the banks of the historic Ohio & Erie Canal at the corner of Exchange and Water streets, just west of its current location where it will be restored to its original state and become the new headquarters to the Ohio & Erie Canalway Coalition, under the direction of President and CEO Dan Rice.  Rice and the coalition have undertaken the restoration plan in partnership with the City of Akron.

Once the block is cleared next summer, construction on the $25-30 million project will begin, with a planned move-in date of August of 2009 by UA students.  Residents will also enjoy retail space located on the first floor of the four-story units along South Main Street.  Apartments located on High, Cedar and Exchange streets will be strictly residential, according to Mehall.

Mayor Plusquellic noted, "The apartment will essentially wrap around the block, and there'll be some open space around the office building at 12 East Exchange.  But this will provide young adults with housing, entertainment, places to eat and enjoy themselves and offer some retail that might even help them with their studies."

Mehall is expecting the retail to be run by larger, regional and national operators who have experience; business people who've "done it before" as he puts it.