Three downtown Akron projects received nearly $10 million in historic tax credits Wednesday, as plans to turn the Huntington Tower into apartments and to remake Quaker Square and Quaker Station got big boosts from the state.

The Huntington Tower, the tallest building in downtown Akron, will get $4.55 million to help pay for the $68.8 million project to convert the office building into a mixed-use development. The state announcement says the project will convert the 28-floor, 1931 building into 200 apartments with office, commercial and retail space.

Huntington’s sale of the building to a local developer was announced in November of 2024. In April, Crain’s Cleveland Business reported that Gino Faciana, the co-CEO of NAI Pleasant Valley, a commercial real estate brokerage and property management company, was the buyer. 

The Quaker Oats factory in Akron
The Quaker Oats factory in Akron — at far left is the Summit County Courthouse. At right is the (now) Huntington Tower Building on Cascade Plaza. (Photo courtesy of the University of Akron Archives)

Faciana did not return phone calls seeking comment on the tax credits after 5 p.m. Wednesday.

In the announcement, Huntington Bank’s market president for Akron and Canton, Ron Paydo, said he expected the project “to be a great step for the livability of downtown Akron and the surrounding area.”

The building, at 106 S. Main St., is one of several downtown Akron buildings that are in the early stages of redevelopment for housing.

The new entry for the apartments that will be built inside the Quaker Square complex is visible at the center right of the silos.
The new entryway for the apartments that will be built inside the Quaker Square complex is visible at the center right of the silos. (Drawing courtesy of Kyle Craven)

Additionally, the state gave $5 million to help fund the $40.7 million project to remake Quaker Square into a hotel and residences. Kyle Craven, one of the developers of the project, said previously that the project wouldn’t be feasible without the tax credits.

In its announcement, the state said the redevelopment of the cereal factory’s silos would “preserve the silos’ distinctive concrete form while addressing deteriorated materials and modernizing building systems.”

“The redevelopment will reactivate a long-vacant landmark while helping meet Akron’s housing and hospitality needs,” the announcement said.

Lastly, the state gave $400,000 to help update the restrooms, kitchen facilities and roof of Quaker Station at 120 E. Mill St., which Craven is also rehabbing. The work “will maintain the building’s historic character while improving functionality,” the release said.

Craven said Quaker Station will continue to operate as a conference center and banquet venue.

Economics of Akron Reporter (she/her)
Arielle is a Northeast Ohio native with more than 20 years of reporting experience in Cleveland, Atlanta and Detroit. She joined Signal Akron as its founding education reporter, where she covered Akron Public Schools and the University of Akron.

As the economics of Akron reporter, Arielle will cover topics including housing, economic development and job availability. Through her reporting, she aims to help Akron residents understand the economic issues that are affecting their ability to live full lives in the city, and highlight information that can help residents make decisions. Arielle values diverse voices in her reporting and seeks to write about under-covered issues and groups.