Akron landmark will become a hotel

Akron landmark will become a hotel

This article is shared from Crain’s Cleveland Business: http://www.crainscleveland.com/article/20180320/news/155551/akron-landmark-will-become-hotel

An affiliate of the Development Financing Authority of Summit County is lending $1.28 million to a developer who intends to turn downtown Akron’s United Building into a $10 million, 71-room boutique hotel in Akron’s Main/Market Streets Historic Arts district.

The loan was made through the Akron Community Revitalization Fund (ACRF), which is capitalized by local philanthropies, corporations and individuals. The ACRF was established to assist with financing important community and economic development projects.

The developer is the Riley Hotel Group of Medina, which will also manage the hotel. Riley Hospitality has hotel properties in several states. Its website lists 11 boutique hotels in Michigan and Key West, Fla., and the Kent State Hotel and Conference Center in Kent. It also operates five name brand hotels, four of which are in Northeast Ohio.

The building was constructed in 1924 as the headquarters for the United Cigar Co.

Other financing was provided through historic tax credit equity, Cortland Bank, and Village Capital Corp., which is affiliated with Cleveland Neighborhood Progress.

The project will create approximately 83 construction jobs and 20 permanent and 9 part-time jobs in Akron’s downtown. Pride One Construction of Medina is the general contractor for the project.

Five DIY Improvements to Improve Your Home’s Value

Improving the quality and style of your home can have a direct impact on its overall value. It’s essential to perform specific projects if a certain feature becomes worn down over time. If you want to boost your home’s value, there are a few DIY projects to do yourself to influence what the house is worth.

1. Reduce Energy Costs

One of the latest trends in home improvement is reducing energy costs for added savings throughout the year. Make changes that include installing Energy-Star appliances and insulating your roof or ceiling to maintain the internal temperature of the building in each season. Installing ceiling fans can also reduce your usage of the HVAC system during the summer months.

 

2. Install a New Fence

Fences add extra curb appeal to the house and also increase the level of privacy that is available on the property. Consider installing a fence that complements the architecture of the house and will also keep stray animals away from the yard. Wrought iron fences are ideal for Spanish Colonial or a white picket fence for an older style house. There are also DIY vinyl fence installation packages available for most suburban-type homes.

 

3. Remove Popcorn Ceilings

Popcorn ceilings are not only considered an eyesore but can also be hazardous and unsafe for residents when they contain asbestos. Set aside a weekend to soften the texture and scrape the material off in various rooms of the home. Creating a smooth surface will update the building and will keep your family’s health safe.

 

4. Install a Backsplash

Installing a backsplash is an ideal project for those who have precision with laying tiles and enhancing the visual appeal of the kitchen. Choose a neutral or decorative color shade and style that will continue to look contemporary for many years to come.

 

5. Resurface Concrete

Your home’s concrete is one of the main features outside of your property and needs to be refreshed every few years. You can resurface concrete and even choose a different color or add a cobblestone finish to create a beautiful design that increases the curb appeal of the setting.

 

Performing improvements on the interior and exterior of your residential property can allow you to create an attractive setting that sells once it’s listed on the market. By performing a few DIY projects, you can make a minor investment that pays off and allows you to make more of a profit once you find a buyer.