Columbia Park:

Columbia Park, a 1,091-site 55+ land-lease community located in Olmstead, OH, outside of Cleveland.

The property was owned and managed by several parties through a tenancy-in-common structure. Though each of the owners wanted to see the community thrive, they had differing opinions and business priorities. And without a shared vision or investment strategy supporting it, the property began to suffer. The infrastructure was aging. The amenities no longer met residents’ expectations. The property’s wastewater treatment practices had been cited by the Ohio EPA.  

Green Courte recognized that a committed new owner with the expertise and resources to address these issues could have a transformative impact on the community, and it seized the opportunity. 

In late 2020, after 12 years of pursuing the property, Green Courte reached an agreement with the ownership group and lender’s representative to acquire Columbia Park.

An environmental improvement plan, a collaborative effort between the Green Courte development team and the Ohio EPA, was put into place, helping ensure the community’s wastewater treatment practices meet or exceed regulatory standards. Meanwhile, Windward Communities, Green Courte’s land-lease community operating company, began instituting its established management approach and improving the property’s infrastructure as part of a $15M+ capital improvement strategy that was to be phased over three years. The updates included refreshing the overall look and feel of the community, renovating the clubhouse and sales office, and adding various amenities — all with the goal of delivering the vibrant, low-maintenance, active adult lifestyle the existing and prospective residents of Columbia Park desire.  

As the initial phase of the capital improvement strategy took hold, the Windward Communities management team began bringing in new homes to lease up the property and make the Columbia Park experience attainable for more people in the Cleveland area.