As a non-profit entity, UAkronPark is dedicated to the long-term improvement and sustainability of the University’s parking facilities. Over the course of the concession, we are committed to investing approximately $12 million in capital expenditures (capex) within the first five years, focusing on substantial upgrades and enhancements to the parking infrastructure. This initial investment lays the groundwork for ongoing improvements and the adoption of innovative parking solutions.

Furthermore, UAkronPark will continue to invest in the campus’s parking facilities, with an estimated total of $76 million in capex planned over the 35-year term of the agreement. This demonstrates our long-term commitment to not only maintaining but significantly improving the quality and efficiency of parking services for the University community.

Upon the conclusion of the contract, UAkronPark will return the parking facilities to The University of Akron in a condition that exceeds their original state, ensuring that the University’s infrastructure is well-positioned for future generations.

This partnership between The University of Akron and UAkronPark marks a significant milestone in our commitment to the University’s growth and development. By investing in our parking facilities, we are investing in the future of our University, providing enhanced support for its academic mission and ensuring a better campus experience for all.