At the end of 2020, Bainbridge Township announced the redevelopment of the former Geauga Lake and Sea World Properties, in partnership with Industrial Commercial Properties LLC of Solon, Ohio (ICP). Envisioned to be a first-class mixed-use development, you can expect a variety of new retail, residential, and commercial properties in the area.
If you’re planning to buy a home or invest in a property in Bainbridge, Ohio, here’s what you need to know about this upcoming development:
THE STORIED HISTORY OF GEAUGA LAKE
Located between Bainbridge Township and Aurora, Ohio, Geauga Lake was first established as a recreational lakeside park in 1887. When its first ride – a steam-powered carousel – was installed in 1889, Geuga Lake began its century-long history as an iconic Ohio amusement park.
More rides were soon added to the park, including the Big Dipper, the oldest running roller coaster in the state. It reached peak popularity between the late 1970s and 1990s, especially when SeaWorld Ohio began operations right across the lake. When it merged with SeaWorld Ohio in 2000 under Six Flags, it broke the record for the largest theme park in the world at 700 acres.
However, due to the financial difficulties faced by Six Flags and its last owner, Cedar Fair, Geauga Lake inevitably closed in 2007. It continued to operate its water park Wildwater Kingdom – former SeaWorld Ohio – during summer seasons only until 2016.
WHAT HAPPENS NOW?
The future of the former amusement park has been a topic of discussion in Bainbridge for a long time, especially after the public dismay over its closing and the decaying eyesore it became in the years after.
ICP’s plans for redevelopment
In 2020, ICP was able to acquire 377 acres of the former park from Cedar Fair, renaming the area as the Geauga Lake District. Bainbridge Township and the city of Aurora also approved the creation of a Joint Economic Development District for the property, given the future economic benefits the redevelopment would bring to both communities.
Specific plans and development for Geauga Lake include a Menards home improvement outlet, a big box retailer, and several other commercial properties zoned for office space and restaurants. The overall design of Geuga Lake District seeks to incorporate the elements of the former amusement park as well, paying homage to the property’s rich history.
New residential communities
Vision Development, a Columbus-based real estate developer, recently purchased 19.5 acres from ICP to build over 331 apartment style units in the area. The project, called VC Park, will feature a wide range of apartment styles and sizes and cutting-edge amenities. On the Aurora side of the lake, Pulte Homes is also in the process of building Renaissance Park at Geauga Lake, a residential development with 308 townhomes and single-family homes.
While these new developments mark the end of an era, they also offer a new life, purpose, and value to the beloved Geauga Lake. Not only will it help preserve the memories and history of the park, but it will also provide residents – old and new – a community where they can live, work and play.
Keep updated on the latest news and developments in Bainbridge, Ohio with Michelle McQuade, one of Chagrin Valley’s top Realtors! You can call at 440.823.2448 or send an email.