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Bowery Project in Downtown Akron Receives $5 Million in Historic Tax Credits

Ideastream Public Media | By Mitch Felan

Published June 29, 2017 at 5:08 PM EDT

The Landmark building (in foreground) on Main Street is one of six buildings to be redeveloped under the plan.

Abandoned buildings adjacent to the Landmark Building in Akron — The Landmark building (in foreground) on Main Street is one of six buildings to be redeveloped under the plan.

Several projects in Akron are going to be sharing more than $5 million dollars in historic tax credits.

They are part of Akron’s Bowery project, a plan to redevelop the Landmark building as well as five other buildings on Main Street.

Beth Borda of the DeHoff Development Company says the awards will help the project reach its goal of improving Downtown Akron.

“These buildings have been vacant for over 10 years in a location that is the highest point of visibility in the city. And also, the city reaches its goals of trying to grow the residential downtown community with these kinds of buildings and a fresh food market and other amenities…”

The project includes a mix of residential, retail and office space. Borda says they are also looking for $22 million in New Markets Tax Credits.

The project is a part of the city’s Downtown Vision and Redevelopment Plan.