A proposed new housing development in Akron involves an organization with a history in the city. This project takes them in a new direction.
The proposed Residences at Good Park development in West Akron is a step away from one of Alpha Phi Alpha Home’s goals to provide housing for Akron’s low-income, elderly population. Instead, Executive Director Tom Fuller said the developer is aiming to create an economically integrated community with properties starting at $195,000.
“Price is comparable to what is being offered today, and in fact, it’s probably less than what is being offered in other areas,” Fuller said.
He said there is already a great deal of interest in the proposed 80 townhouses, detached houses and custom homes.
“Primarily folks who live in Akron, and who want to continue to live within the city limits, but who need to make a change in their housing arrangements,” Fuller said.
Alpha would buy the 17-acre site from the city for $1. The $20 million project is expected to be completed in five years.
Councilmembers will consider this plan for at least the next week.
Fuller said the park-like amenities and location are not the only benefits that would come with buying in this development.
“The incentive in this case is that the city is offering a tax abatement for new construction, and we’re going to take advantage of that additional benefit to the buyers,” he said.
Those who buy homes in the development would not have to pay property taxes for 15 years.
