Lorain County Leaders Seek New Opportunities for Midway Mall

The future of Elyria’s Midway Mall is uncertain following the recent decision by Industrial Commercial Properties (ICP) to withdraw from a purchase agreement. The Lorain County Port Authority announced that the developer, which had proposed a significant redevelopment project, terminated its agreement after expressing dissatisfaction during the due diligence process.

Port Authority Executive Director Jim Miller emphasized the need for resilience in the face of this setback. “The key is to keep on swinging, keep getting in there, keep batting and we’ll find the right fit,” he stated. Miller noted that ICP did not provide detailed reasons for its withdrawal, but acknowledged changing economic conditions and a shift in the team managing the project as contributing factors.

ICP had initially proposed a $42 million investment aimed at transforming the Midway Mall into a light industrial park. This redevelopment project promised to create hundreds of new jobs, marking a significant opportunity for the local economy. Despite the disappointment surrounding the failed deal, Miller expressed optimism about the mall’s potential, suggesting that this development could open doors for new investors.

“If it wasn’t right for them, it probably isn’t right for Lorain County and for the city of Elyria. And we’d rather go with someone who it is right for,” Miller remarked. With ICP no longer under contract, the Port Authority is now actively seeking new proposals from interested developers.

Miller pointed out several advantages of the Midway Mall location, which is situated near major transport routes and has existing infrastructure that could support various uses. “If you’re talking about transportation and logistics, it’s perfect for that. If you’re talking about some kind of residential, you’re between two interstates that can get you anywhere you want in Northeast Ohio fairly quickly,” he explained. He also noted the site’s substantial power capabilities, further enhancing its appeal.

The Port Authority board has scheduled a meeting for December 11, 2023, to discuss the next steps in an executive session. Depending on the outcomes of this meeting, plans could either move forward with new proposals or be put on hold entirely.

Currently, the remaining businesses operating within Midway Mall are on month-to-month leases and can remain until a future developer decides otherwise. This arrangement allows for continuity for those businesses while the search for new development opportunities continues.

The community remains hopeful that a new vision for the Midway Mall can emerge, revitalizing the area and providing much-needed economic growth. The Port Authority’s proactive approach in seeking alternative developers reflects a commitment to finding an appropriate solution for this long-standing local asset.