Avon Lake

Investment Overview

A once in a lifetime opportunity to transform and redevelop over 40 acres on Lake Erie.

Avison Young is pleased to offer this offering to solicit proposals from prospective buyers with the intention of entering into a definitive Purchase and Sale Agreement in 2024 and invite the purchaser to participate in the finalization of Zoning, Tax Increment Financing district formation and budget and the Development Agreement activities.

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Investment Highlights

• In 2022, Avon Lake Environmental Redevelopment Group, LLC (ALERG) acquired the former Avon Lake Generating Plant with the plan to demolish all structures and remediate the property.
• ALERG, in conjunction with the city of Avon Lake, has created a plan for the redevelopment of hte lakefront parcel 1 for public use and private development.
• ALERG and the city of Avon Lake has developed a conceptual Master Plan, established a Development Agreement, Proposed zoning overlay, public improvement plans and a tax increment financing strategy and plans to financing public acquisition of the lakefront and public and certain private improvements.
• Demolition and remediation activities have been underway with all remediation activities scheduled for completion mid-2025.