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From Crain's Akron Business: The pandemic's stranglehold on the hospitality industry quashed plans by the Gateway Group and Paran Management to finance the conversion of the site into a luxury hotel, at least for now. Meanwhile, the property has been listed for $1.3 million.
Efforts to save Shaker Square from foreclosure continue behind the scenes Thomas Jewell, cleveland.com © Steven Litt, The Plain Dealer/The Plain Dealer/cleveland.com/TNS Officials involved in the $11 receivership action provided an update at a March 3 Zoom meeting hosted by the Shaker Square Alliance.\n CLEVELAND, Ohio — An allied effort continues in the fight to save Shaker Square from foreclosure. Popular Searches The landmark retail district remains in court-ordered receivership after its current owner, The Coral Company, defaulted on a $10.6 million mortgage payment l...
Akron's Martin House hotel conversion on hold for now Contributed photo Developers still hope to convert the Martin Center at the University of Akron into a high-end boutique hotel, despite the project losing a significant lender. A major hotel project in Akron has become a victim of the COVID-19 pandemic, at least for now. The planned $21 million hotel conversion of the Martin Center on the campus of the University of Akron lost its financing last year when its senior lender pulled out of the deal, and the project has yet to find a new lender willing to replace it, said Tom Chema, chairman o...