Bainbridge Discusses Latest Plans For Geauga Lake Property

June 6, 2013

By Diane Ryder
Bainbridge Township Trustees expressed dismay Monday night as they announced the former Geauga Lake property is being sold by the acre, and may be developed piecemeal into apartments, senior housing or for nonprofit entities.
Trustee Jeff Markley said he had met with owner Cedar Fair’s real estate agent, Cliff West, who told him the company plans to market small portions of the 500-acre former amusement park and complete all sales by the end of the year.
“Does this surprise you?” resident Ann Myers asked trustees.
“Yes,” Markley answered. “They bought if for $145 million and are willing to sell for $15 million. They’ll be taking a loss because they’re just ready to dump the property.”
Cedar Fair closed Geauga Lake abruptly at the end of the 2007 season, auctioned off its rides, buildings and equipment, and tried unsuccessfully to sell the 500 acres, much of which is in Bainbridge Township.
The property is zoned for commercial recreational use, which means any buyers would have to go through the township’s zoning appeals process if they wanted it for any other use, trustees said.
The officials said they had first read about Cedar Fair’s plan in a March edition of Crain’s Cleveland Business magazine and had contacted the real estate agent who is listing the property.
“It’s a whole lot easier for them to market smaller chunks than it is to sell 600 acres,” Trustee Lorrie Sass Benza said.
Markley said Cedar Fair will keep its 150-acre water park, Wildwater King-dom, at least for now.
The land will be sold off in parcels as small as 3.5 acres, at $30,000 an acre, according to published online reports.
Markley said if the land is sold for residential development, it could place a substantial demand on township services, but bring in very little in taxes, particularly if it is sold to nonprofit agencies or preservation entities.
“This would be the worst case for the township,” Markley said. “If it becomes apartments, senior housing and all residential, it will place a larger burden on our schools and services. If it’s for a nonprofit, there will be no taxes coming in, yet they’ll be consuming our services; that is not a good thing.”
Myers added, “That’s kind of scary.”
Markley said the main question is whether residents care if there is a sell off.
“Or do they want something com-mercial that could be an economic boom for the township?” he said.
The trustee said 200 acres is for sale on the Bainbridge portion and 305 acres in the Aurora side, which is zoned industrial.
Bainbridge trustees have been working with zoning consultants to establish the best use of the property and the consultants had recommended a mixed use of multi-unit housing and commercial development for the acreage.
Benza said residents in the sur-rounding area have told her whatever is built on the Geauga Lake land should include a buffer between it and existing neighboring homes.
“We’re all willing to see that established,” she said. “We will be engaging in conversations (with Aurora and West) and exploring our options.”
Benza said she will recommend West talk with Geauga County Planning Director David Dietrich about Cedar Fair’s plans.