Historic Firestone Building Now a One-Stop Shop for County ServicesTERESA GARCIA, ASSIGNMENT EDITOR, NOVOGRADAC & COMPANY LLP

Summit County in northeastern Ohio has found

a new home in one of its oldest buildings. In

its heyday, the historic Firestone shipping and

warehouse facility, or “Triangle Building,” in Akron

serviced one of the largest tire manufacturers in the

world. Philadelphia-based private real estate and

development company Amerimar Realty Company

renovated and repurposed the Triangle Building

with the help of federal and state historic tax credits

(HTCs), making the historic building a one-stop shop

for Summit County services.

“It’s one of the coolest county government spaces

anywhere,” said James Loveman, director of

Amerimar Realty Company. “Some Web-design

firms in Brooklyn would die to have this space.”

Jason Dodson, Summit County’s executive chief

of staff, agrees. “I think it has been one of the best

decisions of Summit County government in the last 20

years,” said Dodson. “The relocation is contributing

to the revitalization of the entire neighborhood,

while saving millions of taxpayer dollars through

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Image: Courtesy of Amerimar Realty CompanyThe historic Firestone shipping and warehouse facility in Akron, Ohio, was renovated into office space for Summit County services.

April 2017 • Volume VIII • Issue IV Published by Novogradac & Company LLP

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improving operational efficiencies and avoiding the cost

of renovating the old buildings that we vacated.”

Before moving into the Firestone Building, Summit

County occupied four separate locations downtown that

served up to 8,000 clients per month, but had no public

parking. The lack of accessibility prompted the county

to evaluate other potential locations for its services.

Summit County issued a request for proposal and

eventually decided on the Firestone site, a place where

it can offer services from multiple departments under

one roof.

Retreading HistoryFirestone built the four-story shipping and warehouse

facility in 1926 to service its adjacent 1 million-square-

foot tire manufacturing plant. The massive depot was

large enough to have freight trains drive through it.

When Firestone merged with Bridgestone in 1992, it

moved its headquarters from Akron to Nashville. As a

result, the Triangle Building was relegated as a parking

garage for the company’s few employees who remained

in Akron.

Amerimar decided to purchase and renovate the Triangle

Building with the goal of landing Summit County as its

long-term tenant. First, several major updates were

needed to make the building suitable for office use.

Elizabeth Murphy, principal of Akron-based consulting

firm Chambers, Murphy & Burge Restoration Architects,

was hired to oversee the protection of the building’s

historic features. Murphy said it was a delicate balance

between preserving the historic character of the

building and adapting it for use as office space. “Things

had to be carefully considered so that they didn’t

disrupt the industrial nature of the building and make

it look like a shopping mall,” said Murphy. “We needed

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Image: Courtesy of Shooting Star Architectural PhotographyThe historic Firestone building in Akron, Ohio, is now home to Summit County services.

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to stay within the dignity and character of the industrial

building, while making it welcoming to people.”

The warehouse layout lent itself well to an office

conversion. “Except for the large concrete columns, it’s

a pretty flexible building,” said Matthew Sutter, CEO of

SōL Harris/Day Architecture. “There are no bearing

walls holding anything up, so you can do a lot of different

things with the floor plan that don’t affect the structure.”

Private offices are grouped toward the center of the

building, while desks and cubicles line the windows

to take advantage of the ample daylight through the

large industrial windows. The structural strength of

the building was also a good fit for the county’s needs.

“Built as a factory, the floors can take a lot of weight,”

said Sutter. “Filing and storage on upper floors is not an

issue at all.” Updates include new mechanical systems,

electrical systems, a modern HVAC system and elevators.

Many of the building’s historic features were preserved.

A tall entry bay that was once the opening for train cars

was repurposed into a loading dock. The historic stairs,

hand rails, concrete floors, columns and brickwork were

also saved. A historic parapet that had been covered in

metal was restored to expose the original stone edging.

A series of smaller garage doors along the south side

of the building was beyond saving, so windows were

installed to look like garage doors.

Murphy said parts of the brick structure had

deteriorated to the point that, if renovation had not

begun immediately, the structure would have failed.

The development team tried eight different brick mock-

up types to use in the repair, but couldn’t find an exact

replica. Luckily, they didn’t have to recreate the bricks

after all. In a field about a half-mile from the property, a

superintendent discovered a pile of historic bricks that

matched the ones used in the Firestone factory.

Another challenge was finding 500 modern windows

that closely replicated the aesthetics of the original steel

factory windows. The solution was to use aluminum

windows that were energy- and cost-effective, but still

preserved the appearance of the original windows.

“Getting the windows right was critical for the historic

tax credits,” said Loveman.

FinancingThe combination of federal and state HTCs was

instrumental in making the redevelopment feasible.

“Tax credits are an absolutely critical component,

especially because the local office market doesn’t

support the cost of renovations,” said Loveman.

In order to qualify for the state HTC, Amerimar

worked with the city to have the Firestone campus

locally registered as a historic district. Amerimar then

Firestone Building

Built in1926

Sources: Amerimar Realty Company; Novogradac & Company LLP

Awarded $5 Million inState Historic Tax Credits

Awarded $4 Million inFederal Historic Tax Credits

500 WindowsReplaced

20-Year Leaseby Summit County

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STATE TAX CREDITS

This article first appeared in the April 2017 issue of the Novogradac Journal of Tax Credits.

© Novogradac & Company LLP 2017 - All Rights Reserved

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submitted the county’s letter of intent to lease and the

lender’s financing term sheet. Only then did the Ohio

State Historic Preservation Office award the property

$5 million in state HTCs and $4 million in federal HTCs.

Amerimar kept the credits for its own use.

Geoff Wehling, co-head of William Blair’s real estate

group, helped facilitate the renovation financing and

permanent debt, as well as negotiate the lease with the

county. “I think it’s a win-win,” said Wehling. “In terms

of the building itself, [the county] consolidated agencies

into one universal location, and they were able to reduce

the rent paid at those facilities. They’re saving millions

of dollars over the next 20 years and getting a brand

new facility.”

After the success of restoring the Triangle Building and

bringing it into modern use, Loveman hopes to renovate

the main factory building next door also using tax

credits. “We’re moving with the times and bringing new

uses to these old buildings,” said Loveman. “I envision a

mix of office space, parking and some elements of retail

to turn it into an economic hub.” ;

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Firestone

FINANCING

� $5 million in state historic tax credits (HTCs) takenby Amerimar Realty Company

� $4 million in federal HTCs taken by Amerimar RealtyCompany

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ISSN 2152-646X

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