BJ building
saved from demolition; $5.35 million for major additions & improvements
The old Akron
Beacon Journal building at 44 E. Exchange Street was awarded $5.35 million in
Ohio Historic Preservation Tax Credit funds to help defray the cost of
redeveloping the building,
named one of the state’s most
endangered historic sites in 2019.
Tony Troppe, the Akron
developer known for creating the arts district and the BLU-Tique Hotel in downtown Akron, was
granted the funds from the Ohio
Historic Preservation Tax Credit program to help defray the cost of redeveloping
the historic property.
The entire cost of the project
is estimated at just over $54 million.
The 1930 Art Deco-influenced
structure at East Exchange and South High streets, which housed the newspaper’s
operations until the offices moved to the AES (former Goodyear) building in
2019, was sold to Birmingham, Alabama-based Capstone Real Estate
Investments for
$1.1 million in 2020.
The company requested
permission from
Akron City Council to demolish the building but was denied.
The redevelopment will include
197 new residential units, tenant space for offices and retail and restaurant
spaces.
A new 71,785-square-foot
building would be added to the south side of the original building, with
commercial space on the ground floor and three floors of residential
space.
Commercial tenant space will
be on the ground floor of the original building, with residential space
available on the first and second floors and lofts at the mezzanine level. New
apartments will be constructed in the areas of the building added on in 1954
and 1985.
The work on the building and
its additions will include:
- Removal
of some sections of the 1954 and 1985 additions to the building on the
south side.
- Reintroduction
of large openings for windows that existed before the addition of a
since-removed parking deck on the south side of the original
building.
- The
addition of new windows to parts of the building’s exterior that are
exposed as sections of the 1954 and 1985 additions are removed.
Restoration of the building’s
brick and stonework.