AKRON, Ohio — Huge modifications could also be coming quickly to Akron’s Chapel Hill Mall.
Akron Metropolis Council is within the means of reviewing plans from Solon-based Industrial Business Properties (ICP) to buy, redevelop, and rezone the roughly 60 acres of the Chapel Hill Mall Redevelopment Space.
Paperwork submitted to the town of Akron present that ICP will decide to a $6 million makeover, together with inside renovations, exterior façade and landscaping. Development would start as quickly as this spring.
Which will simply be the start, nonetheless. Councilman Jeff Fusco, who chairs the planning committee, instructed 3News that ICP is anticipated to take a position roughly $20 million in web site acquisition prices to the undertaking. He added that when development does start, it’s anticipated to make use of round 400 folks.
Foreclosures proceedings in opposition to Chapel Hill Mall and its proprietor Kohan Retail Funding Group, had been begun final yr by Summit County officers due to greater than $166,000 in unpaid taxes. The mall additionally had points paying utility payments in a well timed vogue over the last two years, with water service almost being turned off by the town of Akron on New Years Eve of 2019.
The Akron Metropolis Council’s Planning Fee gave a inexperienced mild to ICP shopping for the property from Kohan final month.