Cormony Development began working on the redevelopment of the former Hercules Motors Company complex in 2005. The Hercules project encompasses 26-acres and 610,000 square feet of vacant, industrial property in about 29 interconnected warehouse style buildings built between 1855 and 1945 in downtown Canton, Ohio. The project involves the environmental clean up of the site and the buildings (a Brownfield), the adaptive reuse of historic structures consistent with smart growth policies and the use of multiple tax credit programs.
Canton, Ohio is located 59 miles south of Cleveland, Ohio and 23 miles south of Akron, Ohio. The former Hercules Motors Company property is located at the southern edge of Downtown Canton, Ohio and near the intersection of Route 30 and Highway 77, the primary highway access into downtown Canton, making the property uniquely positioned as a logical gateway into the city.
The property was home to the former Hercules Motors Company from 1915 until 1999. During that time over two and a half million engines were built for trucks, jeeps, generators, pumps and other equipment. Hercules was, at one time, the world's largest producer of internal combustion engines. During World War II the company devoted 100 percent of its production to war needs, employing 5,800 men and women working a 24-hours a day, 7 days a week, production schedule.
Cormony developed a program that is not only economically viable, but that will act as a catalyst for the City of Canton as well. The mixed use project will include residential rental apartments, class A office space, retail and restaurant space and a convention center. The convention center will serve as the new home for the Pro Football Hall of Fame's enshrinement dinner, gameday luncheon and fashion show (all keynote events during induction weekend).
The historic, industrial flavor of the property and its surroundings will be maintained, while completely upgrading and modernizing the structures. Cormony has successfully had The Hercules Motors Company complex placed on the National Register of Historic Places and has received Part II approval from the State Historic Preservation Office and the National Park Service, making the property eligible for both State and Federal Historic Tax Credits.
Environmental remediation and selective demolition is scheduled to begin during the first quarter of 2008. The Remedial Action Plan (Rap) prepared for the Hercules site for this purpose was the culmination of an intensive Phase II Environmental Site Assessment conducted under the Ohio EPA's Voluntary Action Program (VAP). At the conclusion of this process the USEPA and the Ohio EPA will both sign off on the environmental condition of the site and issue a Covenant-Not-To-Sue. This is the highest level of assurance provided at the State and Federal level that environmental issues have been properly identified and rectified to an appropriate level.
Consistent with its mission, Cormony expects to create a green project to the greatest extent possible within existing project and market constraints.
The project is expected to be a model for urban, historically sensitive redevelopment, Brownfield remediation, Main Street development and low-income community development.
Cormony has created a consensus of support for the Hercules project. The project is being aggressively supported by a coalition of Ohio State, local and private entities encouraging the development of a gateway urban development project for Canton, Ohio.
Cormony is excited to develop a project that will have such a positive impact on the community, while maintaining some of the heritage and character of Canton.
For more information contact:
Laura Steichen
laura@cormonydevelopment.com
Rockville (Headquarters)
103 North Adams Street,
Rockville, MD 20850
301-294-0008
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