Sunday, March 14, 2021

Conneaut Lake Park Sold + Info From the New Owners

© Conneaut Lake Park

The sale of Conneaut Lake Park, which brings the business out of bankruptcy and back to private ownership, was approved by the court earlier this month.  For a sale price of $1.2 million, the new owner - Keldon Holdings LLC - was actually the only qualified bid that was entered for the property and all its attractions and amenities.

This article mentions that 13 different parties showed interested in the property and 10 went through the actual bidding process.  However, Keldon Holdings LLC was the only one with a bid that was okay with the public-use deed restrictions which essentially means they were the only ones who probably intended to keep it operating as an amusement park.  That's speculation, but if other bidders wanted the public-use deed restrictions removed then they probably wanted apartments or something else less interesting on the land.


The new owner did an interview with the Meadville Tribune about their plans for the park's future.  It is definitely worth a read.  The new owners want to make the park the "premier event space" for the area, but are also focused on getting the rides, water park and other attractions opened back up.  That includes hopefully getting Kiddieland and the water park open for May, but they are not sure when the rest of the rides will be ready.

From the news article and also the above Facebook post, up first is demolishing structures at the park that are in bad shape - there were burned down buildings at the park when I visited years ago - and cleaning up the property.  Further down the road is a plan to use open space at the park as an outdoor amphitheater.  Plans to rebuild the Beach Club, a restaurant on the lake's edge that also burned down, are also under way.  More rides are on the horizon, but not immediately.

Interestingly the main individual behind the new owners became aware of the park while working on a plan to turn it into a 55+ community (glad that didn't work out) last year - he subsequently fell in love with the property and its potential.  Here's to the park turning a corner once again and welcoming back visitors this year!


Andrew said...

One little correction - Joseph was working on a 55+ community elsewhere in Conneaut Lake, not on the site of the park.

I appreciated your view on this. Thanks for continuing to write after all these years.