The Bowery
The Bowery Project revitalized downtown Akron by transforming six vacant buildings on South Main Street, supported by a $6 million New Markets Tax Credit from CDA. Landmarks like the Akron Civic Theater and the Landmark Building were restored. The Downtown Akron Vision and Redevelopment Plan highlighted the Bowery District for its potential as a residential and opportunity site.
Across from Main Street, the Bowery offers views of the Ohio and Erie Canal and features Canal Lock 3 park. The Akron History Center will open here in 2024. The neighborhood includes 92 luxury apartments and 23 affordable units, serving those at 80% of the area median income. There are 36,000 sq ft of retail spaces and 4,000 sq ft of offices. The Akron Civic Theater hosts community events, accessible to low-income residents.
This 104,000 sq ft project stimulated redevelopment nearby, including new commercial businesses. A grocery store was established, improving access to fresh food.
Affordable Housing Units
23 of the apartments will be reserved for people with 80% AMI providing an affordable housing option
Healthy Food Financing
The project will increase access to fresh and healthy food by providing tenant space for a full-service grocery store.
Executed Community Benefits Agreement
The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.
Environmentally Sustainable Outcomes
The project includes adaptive reuse and preservation of 6 historic buildings, stormwater management measures, and bike infrastructure.
Neighborhood Revitalization
The Downtown Akron Vision and Redevelopment Plan identified the Bowery District as a top opportunity site and residential site for Downtown Akron. This project is expected to stimulate redevelopment in surrounding buildings and development sites.
