An historic landmark designation will help a proposed downtown Akron hotel get started.
Akron City Council approved the status at Monday night's meeting for Greystone Hall, the South High Street building which is slated to become part of a hotel complex the city says would provide much needed downtown hotel rooms.
The historic status gives the hotel's developers, Greystone Partners, the ability to ask for state tax credits.
Council member at large Jeff Fusco says that council also authorized the city to negotiate a "placeholder" lease agreement, a start towards a final one.
"Within the agreement, though, we have asked the developers to forward to us a development agreement," Fusco tells AkronNewsNow.com. "They have one year to do that, in terms of what are the exact plans."
Fusco says the initial agreement was necessary for the developers to be able to file for those state credits.
Fusco says the Greystone location is ideal because much of the infrastructure is in place.
"There's already a skywalk to the convention center, so the infrastructure is kind of almost there, which makes it pretty much natural," says Fusco, "there's a parking deck, obviously, close by."
He says the Greystone Hall itself, adjacent to the new hotel, will continue to operate as normal for now, being leased out by the city for events with "no interruptions".
When the hotel development takes over, Fusco says Greystone Hall will likely provide meeting rooms and other smaller facilities for the hotel.