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 CLEVELAND, Oct. 11 /PRNewswire/ -- Glencairn Corporation broke ground today for a 494-acre community in an undeveloped area of Richfield Township and the Village of Richfield -- the "missing link between Akron and Cleveland." The project, valued in excess of $100 million, will include as many as 372 exclusive, luxury residences and an adjoining area for a major corporate headquarters or research facility.
 "This development will provide a direct conduit for Akron and Cleveland to benefit from each other's economic resurgence, and provide a significant addition to the list of opportunities Northeast Ohio can offer corporations looking to relocate or expand here," said James Biggar, chairman and chief executive officer of Glencairn, the investment company which owns the site and is directing its development.
 The property, which on a map looks like two trapezoids split by Interstate 77, borders the Cuyahoga Valley National Recreation Area to the east, Brecksville Road to the west, Interstate 271 to the north, and Wheatley Road to the south. The 387-acre residential portion of the property, called Glencairn Forest, will be the setting for about 372 high-quality, single-family residences and cluster home units. The 107-acre business and retail site, known as Kinross Lakes, will be developed into an area for either a Fortune 500 company and/or research facility, or for the home of several smaller companies.
 Ohio Governor George Voinovich, who took part in the groundbreaking ceremonies, said, "Development of this site fills a void at the very center of the region, and is good for all of Northeast Ohio. The Kinross Lakes site will help bring new businesses -- and new jobs -- to Northeast Ohio.
 "This project is ideally situated to serve as a catalyst for regional economic development. It will give residents all the advantages of proximity to both Akron and Cleveland, and will help position Northeast Ohio as one of the most competitive business regions in the country."
 Since the project was announced early last year, Glencairn has accomplished the following:
 -- Created new zoning categories for both properties. Glencairn Forest is now zoned as a planned residential district to include 187 single-family lots, averaging more than one acre each, and 185 cluster homes in five groupings. Twenty-five percent of the total 387-acre parcel will be preserved as "open space" -- woods, streams, and walking trails. Kinross Lakes is now zoned as a planned commerce district to accommodate business office buildings; 15 percent of the site will be allocated as retail space, including a new McDonald's restaurant.
 -- Obtained water and sewer systems. An integrated sanitary sewer system and water lines that will carry city of Cleveland water to the property have been secured, and are expected to be in place by April 1994.
 -- Removed obstructions from the property. Glencairn contracted with Ohio Edison to move a one-and-one-half mile electric power transmission line that ran through the center of the property to instead border the property along I-271. An agreement has been reached for oil wells and gas tanks and lines that are above ground to be capped and removed.
 -- Conducted environmental evaluations. Glencairn hired Earth Sciences Consultants to evaluate the land and ensure that it was free of environmental hazards, in compliance with EPA regulations. Woodward- Clyde Consultants' soil boring tests assessed the land's slope stability, while the Summit County Soil and Waten?servation Department reviewed all storm sewer plans. Also, as required by the U.S. Army Corps of Engineers, wetlands on the property were identified and delineated by ACRT, Inc., an environmental consulting firm, to ensure that virtually all natural wetlands in Glencairn Forest will be maintained. A wetlands mitigation report will soon be prepared for the Kinross property to ensure that its natural wetlands will be maintained.
 -- Straightening of Wheatley Road. Summit County Engineers have recently prepared plans to straighten out the portion of Wheatley Road between I-77 and Revere Road. This change will eliminate a dangerous, winding, hillside curve and assure safety for the final entrance to Glencairn Forest. During much of 1994, a temporary hilltop entrance will be utilized.
 Glencairn has completed designing the layout of the property's roads, sewer lines, and lakes and waterfalls and has begun excavation. It will begin marketing the site to business and residential real estate interests within the next few months.
 Glencairn Corporation, an investment and development company, was founded in June 1991. Glencairn Corporation's efforts in the development of Glencairn Forest and Kinross Lakes are aimed at preserving and enhancing the land's natural beauty and wooded appearance.
 -0- 10/11/93
 /CONTACT: James Biggar of Glencairn Corporation, 216-831-8860; or Kevin Donahue or Cheryl Brady of Dix & Eaton, 216-241-0405, for Glencairn Corporation/

CO: Glencairn Corporation ST: Ohio IN: CST SU: PDT

AR -- CL009 -- 0664 10/11/93 12:02 EDT
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Publication:PR Newswire
Date:Oct 11, 1993

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