ULI Cleveland 2023 Emerging Trends in Real Estate Northeast Ohio Report
Read the 2023 Emerging Trends in Real Estate Northeast Ohio Report
March 28, 2023
The Lorain Port and Finance Authority (Lorain Port) and the City of Lorain, with the support of ULI Cleveland sponsor Team NEO and JobsOhio, are releasing Request for Proposal (RFP) documents for three waterfront development opportunities. The three properties are all publicly owned by either the Lorain Port or the City of Lorain. These properties include the Pellet Terminal (City owned), the southern portion of Black River Landing (Port owned) and the Boat Launch Facility (Port owned). Each of these properties has been identified for its highest and best use for development through a market study commissioned by the Lorain Port and City of Lorain. Details on these sites can be found in the RFPs.
Lorain Port Executive Director Tom Brown is enthusiastic about this opportunity. “With the momentum in Lorain, the time is right to showcase these very large waterfront sites for development. Black River Landing has hundreds of thousands of visitors every year for summer concerts, markets and festivals and is ready for its next phase of development. A growing and vibrant downtown will complement each of these sites. The canvas is ready; it’s time to create some waterfront masterpieces.”
Lorain Mayor Jack Bradley shares a similar viewpoint. “There is not a better site available on the Great Lakes with as much available lakefront acreage, spectacular views of the historic Lorain Lighthouse and sunsets second to none.” said Mayor Bradley in reference to the Pellet Terminal site. “Our city stands ready to make the development of all of these sites a success for everyone and to insure equitable access to the Black River and Lake Erie to our residents and visitors alike.”
Team NEO is eager to take this next step in facilitating the development of our waterfront community. “We’re thrilled to be involved with the economic development teams in Lorain to bring these development sites to the market.” said Bryce Sylvester, Senior Director of Site Strategies at Team NEO. “The sites serve as opportunities for catalytic development projects for the city and the region. We’re looking forward to engaging developers and market participants to advance opportunities forward.”
The RFP documents can be obtained by emailing Lorain Port Assistant Director Tiffany McClelland, [email protected] and additional information on this opportunity can be found at lorainport.com. The opportunity to submit proposals for development of any of these sites is open and the deadline to submit proposals is 4pm on May 17, 2023. The Lorain Port and City of Lorain will host an informational meeting with optional tours of sites at 10am on April 5th at the Lorain Port offices located at 319 Black River Lane, Lorain, Ohio 44052. Following the deadline to submit, proposals will be reviewed and negotiations for development will ensue.
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