Summary: The City of Akron has
received a grant for $2.8 million to purchase, cleanup and redevelop the property at 881
East Exchange Street. Activities that residents and passersby will see at this location
are part of the City’s efforts--- under this grant--- to complete environmental
studies and implement a cleanup plan. Among the activities you will see us performing are
soil and groundwater sampling, and demolition and excavation. This are necessary to
provide for the redevelopment of the property and reduce environmental consequences. The
City’s goal is to provide for redevelopment opportunities that create jobs and
provide for a better community. What is going on at the site? We are currently
completing the environmental studies in preparation for a groundwater cleanup plan.
Environmental engineers and geologists are completing environmental assessment work prior
to carrying out the groundwater cleanup plan.
Is the property contaminated? Our environmental studies indicate that at some
time in the past there was a release of chemical and petroleum substances here. Data
indicates that said chemicals do not pose a serious threat to environmental health;
however we are taking more samples to determine the extent of the release and prepare a
cleanup plan necessary for the redevelopment of the property.
What is the history of the property? The site was originally used for the
manufacture of clay products. Most recently the site contained an 81,000 square foot ACME
grocery and discount store that closed in September of 1993.
Who owns the property? The City of Akron took ownership of the property March
24, 2003. The City purchased the property with funds from the United States Housing and
Urban Development Initiative’s Grant and Clean Ohio Funds. The City’s purchase
of the property will ensure the redevelopment of the land.
What is the overall goal of the project? Clean Ohio Funds will clean up the
property. It has stood vacant and undevelopable for eight years. The cleanup will prepare
the site for a planned 65,000 square foot neighborhood grocery and retail complex.
What is going to happen to the property? Following the environmental cleanup,
the City will enter into a development agreement with a local non-profit corporation, and
their for-profit co-developer, to open a Dave’s Supermarket. The developer will
commit to complete the construction of a new grocery store, with a minimum of 40,000
square feet, within 18 months. The developer will commit to complete an additional 25,000
square feet of retail development within 30 months and another 25,000 square feet of
retail development within five years.
What are the economic benefits of the project? When the project is complete, it
will have created new jobs. The developer intends to hire 40 new employees and 100
part-time employees when the grocery and additional retail stores are built. New income
and real estate taxes will total in excess of $200,000 annually, and it is anticipated
that the development will generate $12 million in sales every year.
Who can I call with questions about the project? Please contact Mark J. Moore,
P.E., at 330-375-2496 for additional information about the project.
