University Park Alliance Revitalizing Akron’s Urban Core

Posted by ThePlus - 01.19.2012

University Park, an urban neighborhood in Akron’s core, is in the midst of a major transformation thanks to the work of a local non-profit - University Park Alliance (UPA). Anchored by the University of Akron, three hospitals, research and development facilities, a business incubator and two new community learning centers, University Park is rich in institutional assets. Despite this, the area lacks a neighborhood feel, which is preventing it from realizing its full potential. That is where UPA comes into play – through an array of partnerships, UPA aims to redevelop a 50-block area surrounding the University of Akron into a thriving mixed-use neighborhood that will not only attract locals but also generate economic activity for the region.

Focused on bringing new energy to the urban neighborhood, University Park Alliance looks to leverage the economic synergy of the area’s “Anchor Institutions” (The University of Akron, Summa Health System, Akron General Hospital, Akron Children’s Hospital, Leggett and Mason Elementary Schools, Akron Stem Middle School, and the Austen Bio-Innovation Institute). Upon conducting an economic impact assessment of these institutions, UPA found that together they support 20,162 jobs and create an annual economic impact of $3.5 billion in the state of Ohio. Understanding how vital these assets are, UPA aims to create a revived housing, retail and entertainment district that will further enrich the community in which these institutions reside.

Helping in this effort are a number of organizations, which include: the John S. and James L. Knight Foundation, CEOs for Cities, Initiative for a Competitive Inner City, Social Enterprise Alliance and the Urban Land Institute.

Additionally, University Park Alliance recently inked an agreement with KUD, an international real estate developer. This partnership represents a major stepping stone for UPA as KUD will assume the responsibility of developing a portion of the projects outlined in UPA’s core vision. In a statement from Eric Johnson, University Park Alliance’s Executive Director, Johnson stated that "KUD brings a sterling reputation and international expertise, and will accelerate UPA's efforts to complete its strategic vision for Akron's core."

With a portfolio that includes national and international projects, KUD International has the experience to help transform the University Park neighborhood. On KUD’s roster of previous projects are aquariums in Tampa and Long Beach, professional baseball and football stadiums in San Francisco and Philadelphia and many more grandiose ventures. The first of UPA’s projects are slated to begin in early 2012.

While Akron was once known as the “rubber capital of the world,” University Park Alliance is working to write a new history for Akron. This history will tell the story of Akron’s expertise in the field of polymers; its growing role as a biomedical and research hub and much, much more. By creating a thriving urban core, University Park Alliance is taking a significant step in developing an even brighter future for Akron and all of Northeast Ohio.

Interested in learning more about University Park Alliance and the work taking place in Akron? Visit them online at http://www.upakron.com/university-park-alliance. Also, be sure to check out the video below!

Links to Reference:

http://www.upakron.com/uploads/up-economic-impact-study-final-22910.pdf  

http://www.upakron.com/building-blocks-for-50-blocks  

http://www.upakron.com/strategic-planstrategic-plan

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