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Investors Back Out of Deal to Purchase Belden Lodge at Southgate Park

Investors Back Out of Deal to Purchase Belden Lodge at Southgate Park

Investors Back Out of Deal to Purchase Belden Lodge at Southgate Park

Green, OH – The Belden Lodge at Southgate Park owned by the City of Green will not be sold to Table for Life, LLC and its owner, chefand restaurateur Kent Welsh. The investors have pulled out of the deal claiming estimated costs to renovate the facility surpass their original estimates.

The City does have several other interested buyers for the property. These potential buyers include two who are interested in creating a restaurant/winery, one who is interested in converting the lodge into a banquet facility, and one who wants to renovate the property into a residence and office.

“We are disappointed that the original project is falling through, but it is best now before construction is started,” said Mayor Norton. “With these other interested parties, we anticipate positive activity on the sale and future of the lodge in the next several weeks.”

City Council approved the sale of the Belden Lodge at the January 8, 2013 council meeting (Resolution 2012-R70).

The Belden Lodge was acquired as part of the Southgate Property in 2006. Since then, the City has been unable to use it public purposes due to a lack of compliance with ADA and fire codes. Cost to renovate the property for public use by the City was estimated in the $1 million range. Annual cost to the City to maintain the vacant facility is approximately $12,000. In the Fall 2011, the City placed the property on the market for sale.

The City of Green, Ohio, founded in 1992, is a prosperous, progressive and promising city with more than 25,000 residents. Approximately 33.5 square-miles, Green is located in southern Summit County. Visit www.cityofgreen.org. Like us on Facebook at www.facebook.com/cityofgreenohio