American Greetings Move to Westlake May Mean Big Boost for Avon Realtors, Developers

A brand-new 700,000-square-foot headquarters and 3,000 jobs, plus $100 million in spin-off development equal very good things for Westlake, Avon and Avon Lake. 

that it will be relocating to in 2014 -- and bringing a whole lot of money, development and jobs with it -- real estate agents and politicians alike have eagerly discussed how their respective cities and the region at-large can leverage the many opportunities that the greeting card giant will bring. 

Dick Sweda, an Avon Realtor who owns , has been assessing the logistics of the move, and is projecting a high spike in home sales. 

“I’ve been in the Avon market as a builder and as a realtor going back over 20 years,” Sweda said. “And what I’ve always noticed is when there’s a job cycle with either industrial or commercial development – as soon as that arrives – there’s a direct proportion to new construction and new home building. 

“With that in mind, I predict we’re going to see a 20- to 25-percent spike in existing and new home sales within the next three years.” 

KC Zuber said the relocation presents a “mutually beneficial scenario” for the far west side suburbs regarding real estate in Cuyahoga and Lorain Counties and elaborated on Zuber’s assessment and discussed several potentially positive outcomes. 

Since several American Greetings employees live in Avon, the move to Westlake versus an out-of-state relocation means the city will retain its present AG residents as well as bring in new ones who will want to live closer to the Crocker Park headquarters. 

“Anytime you have an influx of people coming into the area and purchasing existing houses or buying new houses it keeps the prices up,” Smith said. 

“And given that a nationally and internationally recognized company is moving to Westlake further legitimizes the region in regard to big business and the $100 million in spin-off retail development at Crocker Park is just the beginning. I think this move will continue to attract new business opportunities both locally and regionally." 

Realtor Jean Kochan, who co-owns in Avon Lake, said it was unfortunate that Brooklyn would be losing millions of dollars in annual revenue, but was glad that American Greetings many employees would be staying in the area. 

Like most in Lorain and Cuyahoga County, she predicts a “boom” in business and home sales and think it’s a step in the right direction to jump start the state’s sluggish economy.

The following statistics were prepared by Avon finance director Bill Logan, Westlake finance director Prashant Shah and the Lorain County Auditor's Office.

City of Avon Property Tax/Income Tax Statistics

Income tax rate

(1.50% resident credit)

Property Tax Data - per home:

Average Home value

(January 2010, per Lorain County Auditor's Office)

Average cost of home built in 2009 or later

(per City of Avon building department permit statistics)

2010 property tax rate in mills (2011 collections)

2010 effective millage (residential)

82.45

61.71

Annual property taxes on "average home value"

(after state rollback of 10% and homestead reduction of 2.50%)

Annual property taxes on "average new home value"

(after state rollback of 10% and homestead reduction of 2.50%)

City of Avon Lake Property Tax/Income Tax Statistics

Income tax rate

(1.50% resident credit)

Property Tax Data - per home:

Average Home value

(January 2010, per Lorain County Auditor's Office)

Average cost of home built in 2010 or later

2010 property tax rate in mills (2011 collections)

2010 effective millage (residential)

91.17

59.49

Annual property taxes on "average home value"

(after state rollback and 2.50% homestead reduction)

Annual property taxes on "average new home value"

(after state rollback and 2.50% homestead reduction)

City of Westlake Propety Tax/Income Tax Statistics

Income tax rate

(100% resident credit)

Property Tax Data - per home:

Average Home value

(January 2010, per Lorain County Auditor's Office)

2010 property tax rate in mills (2011 collections)

2010 effective millage (residential)

100.90

67.24

Annual property taxes on "average home value"

(after state rollback and 2.50% homestead reduction)

Annual property taxes on "median home value"

(after state rollback and 2.50% homestead reduction)