About Canal Place

An Idea Turns into Reality

Rescued from a scheduled total demolition of 27 buildings, Canal Place today along with its neighbors in Lock One Commons is considered the catalyst in the revitalization of downtown Akron. Canal Place is currently comprised of over 85+ local, regional, national and global companies representing over 40 different types of businesses with a combined work force of over 2,500 people. Everything from small, family-run businesses to corporate headquarters of Fortune 500 companies can be found in this vast complex, which is larger in terms of total square footage than Akron's entire downtown central business district combined.

Canal Place has an annual payroll of over $50 million and is considered one of the most innovative developments in North America. The crowning achievement was noted in 1991, when Canal Place was awarded the "Arthur D. Little Award for Excellence in Economic Development". Cities around the country as well as from Canada and Europe consider Canal Place a model for economic development relating to the rehabilitation of older buildings. This is evidenced by their requests for information as well as the efforts made to come out and tour the complex.

In the past, the south end of downtown Akron had been predominantly occupied by the BFGoodrich Company. With the BFGoodrich Company providing the anchor to the south, the City then concentrated its redevelopment efforts to the north. When the BFGoodrich Company relocated out of downtown Akron in 1988, there was an enormous void to fill. The success of Canal Place has once again reignited the entrepreneurial spirit. During the past fifteen years, Canal Place has added numerous tenants whose combined requirements are over 1.2 million square feet. Adding to the excitement of Canal Place's success, the south end received another vote of confidence. The world headquarters of both Advanced Elastomer Systems, a partnership between Exxon and Monsanto, and GOJO Industries, world leaders in hand sanitizer products, selected the site adjacent to Canal Place.

The Akron Aero's double AA baseball minor league team of the Cleveland Indians has relocated their new $30 million stadium only a short walk from Canal Place. In addition, a plethora of nightclubs and restaurants as well as one of the finest condominium developments are just a short walk from the complex. The City of Akron and State of Ohio plan on spending upwards of $8 million on the development of the towpath (walking, jogging and bike path) along the Ohio & Erie Canal. This towpath redevelopment follows the route of the Canal as it meanders through the Canal Place complex.