Friday, August 10, 2007

Quaker Square Bought by Akron University

UA Buys Quaker Square Complex

Akron, Ohio, June 13, 2007 — A beloved local landmark is gaining a new owner and a new purpose. The historic Crowne Plaza Quaker Square complex has been sold to The University of Akron as the latest step in its New Landscape for Learning campus enhancement initiative.

At its regular meeting today, The University of Akron's Board of Trustees approved the $22,679,000 purchase of the 9-acre property at 135 S. Broadway St. from Jay Nusbaum on behalf of Quaker Square Properties. The University expects to be able to move in to the facility after Jan. 1, 2008. A transition team will be formed to deal with issues related to the purchase and renovation into University facilities, including accommodating upcoming booked events and working with the current office tenants.

The purchase is pending approval from the Chancellor of the Ohio Board of Regents and the State of Ohio Controlling Board.

Quaker Square provides a unique and valuable addition to the University, according to UA President Luis M. Proenza.

“The University sees many exciting uses for this wonderful property,” says Ted Curtis, UA's vice president for capital planning and facilities management. “From office space and student housing and academic opportunities, to a sizable parking area and other amenities, the Quaker Square complex offers our University community an incredible new base of operations for a variety of uses.

Listed in the National Register of Historic Places, the hotel was constructed from the 19th century mills and silos that were the beginnings of the Quaker Oats Co. In March 1973, plans were announced to redevelop the vacant buildings, and on April 1, 1975, Quaker Square was opened with four shops and an ice cream parlor.

MAYNARD SAYS: This is both awesome and totally sucks. I realize that Quaker Square has been suffering financially even with the revitalization of Akron downtown, and I am happy to see it will be preserved by the school. But, as Kid Yeti will agree, where the hell was all this expansion and renovation when I was going to school there? Since I graduated, they renovated the dorms, the student center, several classroom buildings and tore down Spiocer Hall. Now this. The fix is in, I tell ya.

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