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Dueling Developments in Ohio

Solon has long sought out retail outlets to boost its economy, but officials doubt the city can handle both projects. Mayor Kevin Patton expects Solon City Council to choose only one of the two.

"Each of us believes that we have a viable project," said Coral President Peter Rubin. "In the end, we'll see what happens. One of us may go forward, or neither of us might. You never know."

Rubin's 90-acre plan includes a department store, a cinema, a hotel, offices and 500 residential units - from ranch houses to townhouses - as well as an arts district. It also would have a 2.5-acre park.

Some residents along West Sharondale and Sharondale drives - in the heart of the proposed Coral Co. development - are balking at the plan, and they say they don't want to sell their homes.

Two developers--Stark Enterprises and Coral. Co.--are vying to build massive projects in the town of Solon, Ohio, near Cleveland. But it's likely only one could be supported by the area's demographics.

So the race is on. The town says it won't use eminent domain to help in assemble sites for either project.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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