Challenge
Lorain County Community College owned 57 acres of land adjacent to its campus, which it intended to develop into a technology park to partner business resources from occupants and educational resources from the college, thereby serving as an economic development engine for its surrounding community.
Solution
Allegro conducted a strategic real estate plan which included the following components:
- Site Analysis including physical attributes, economic trends, market analysis, and stakeholder interviews;
- Assessment of existing college resources and their synergies with the business community; and
- Technology park and land use recommendations based on national tech park models, optimal users, and a development strategy.
More recently, the college engaged Allegro to review its planning efforts, evaluate its progress, and develop an economic development based strategy to market the technology park and facilitate transactions. Four corporate headquarters facilities have been constructed since the original study and a fifth facility recently broke ground. Allegro assisted the college with marketing the balance of the park and working with economic development teammates to create critical business and education partnerships.
