Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Wednesday, October 17, 2007

Developer to create student apts. in Akron

By STAN BULLARD1:09 pm, October 17, 2007

Richland Communities Ltd. of Middleburg Heights and Akron Mayor Don Plusquellic have announced plans by Richland to build a $25 million student apartment complex in downtown Akron.Developer Marty Mehall of Richland said the complex will consist of 150 units renting for upwards of $649 monthly, according to a news release issued by the Akron mayor’s office.

Exclusively for students attending the University of Akron, the complex would be located on the block bounded by Main, High, Exchange and Cedar streets. The mayor said the Richard Howe House, a home downtown dating to 1836, would be moved to accommodate the project.

The developer forecasts occupancy of the four-story buildings in August 2009 if construction begins next summer. Besides a fitness center, game room and study rooms suited to students, some parts of the complex will include an unspecified amount of retail space for eateries and other student-oriented services.Richland Communities is a prolific, though decidedly low profile, developer of apartments throughout the region.

The mayor’s office said Mr. Mehall has built single-family homes, and more recently apartments, for 24 years in Ohio and Florida.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home