$40M Project to Deliver First New Hotel in Downtown Akron in 40 Years
By Adrian Maties, Associate Editor
Downtown Akron is getting ready for a new hotel. Mayor Don Plusquellic, Greystone Partners L.L.C. and Amerimar Realty Co. on July 16 announced plans for the project, which will incorporate the historic Greystone Hall at Mill and High streets and will be the first new hotel construction in the city’s downtown in 40 years.
The city has signed a memorandum of understanding with Greystone Partners, a group of five Greater Akron-area businesspeople that plans to buy Greystone Hall, a former Masonic Temple built in 1917. They will also purchase the adjacent High Street Christian Church and demolish it.
The project is expected to cost $40 million. A 160-room hotel will be constructed on the church site. It will include a 125-seat restaurant and bar, a state-of-the-art fitness center and indoor swimming pool, three ballrooms and multiple smaller meeting rooms, as well as a destination venue for weddings and other social events. The historic Greystone Hall will be fully renovated and will be connected to the hotel through a glass atrium. It will house a restaurant and spaces for meetings and events, while continuing to be a venue for live theater productions. The new hotel will be LEED certified.
Greystone is working with Philadelphia-based Amerimar Realty Co. on the project. Braun and Steidl is the project’s architect, with Welty Building Co. as construction manager. An affiliate of Amerimar Realty will operate the hotel as an independent facility. The Development Finance Authority of Summit County will be participating in financing the project.
Mayor Plusquellic said in a news release that he considers Greystone Partners and Amerimar Realty “the right people” to build the quality hotel downtown Akron deserves. “This hotel will work closely with the John S. Knight Convention Center and preserves the historic Greystone facility. It will help to bring many more guests, conventions and groups to visit and convene in our great city. This is exactly what we hoped for in a hotel plan – a great facility close to the convention center, more jobs for our citizens and a substantial investment in our downtown,” he added.
Photo credit: http://greystonehall.orgTags: Akron, Amerimar Realty Company, Cleveland, Cleveland Lead Story, Commercial, construction, Developers, Development, economy, Finance/Investment, Greystone Hall, Greystone Partners LLC, Hospitality, Hotel, Local, Mayor Don Plusquellic, National, Regional