The City of Akron is making moves to revitalize the Summit Lake neighborhood by opening the door to housing developers. In a recent announcement, they’ve made available 50 lots with an asking price of just $0.50 per square foot, as part of a push for positive development and new housing opportunities. A recent report detailed the City of Akron's Request for Proposals (RFP), inviting developers to submit their plans.
Developers who step up to the plate could not only shape the housing landscape but also benefit from a substantial fiscal leg-up. Already earmarked for redevelopment are 10 city-owned residential properties, buoyed by $350,000 of HOME Investment Partnership Program funds available as grants to low-income qualifying purchasers, as reported by the City of Akron. This assistance program aims to close the gap between the purchase price and what a mortgage would usually cover for the buyers.
In a bid to inject more life into the neighborhood, proposals that can enhance the overall vibrancy of Summit Lake and align with the city's overarching goals for equitable and resilient housing will be prioritized. The city encourages the development of various housing types, including single-family homes, duplexes, townhouses, and small apartment buildings. These plans ought to harmonize with the surrounding area and adhere to the city's zoning and housing standards as outlined in the RFP.
"During the State of the City Speech last week, I spoke about the importance of infill housing in our neighborhoods," Akron Mayor Shammas Malik said, emphasizing how such initiatives are a pivotal part of Akron's 'Living Together' agenda, sourced from the city's announcements. Developers interested in submitting proposals have a deadline of 4:00 p.m. on July 31, with submissions accepted via mail or online. Further insights and clarifications regarding the RFP can be sought via email to David Messner, the Development Manager, before July 11, with responses to be posted on the City of Akron's website.
With eyes on the future, Akron hopes these steps will not only attract investment but also address the housing challenges that have been a sore point for the area. It stands as an open invitation to developers to be part of Summit Lake's transformation and to ultimately add more neighbors to what the city hopes will be thriving Akron communities.
