Great Lakes Brewing Co. has purchased eight acres on Scranton Peninsula along Carter Road for a potential expansion project, though the company has yet to commit to a plan for the property.
"We still have a ways to go before we can tell people that we're doing a project,” Great Lakes CEO Bill Boor told Cleveland.com.
The company is buying now because it feels good about Scranton Peninsula, and the sellers – an investor group led by developer Fred Geis and partners Jesse Grant and Matthew Weiner – needed a decision from Great Lakes to fine-tune their plans for the property.
After the brewery deal, the partners still own approximately 17 acres of the property across the river from Tower City. That land is currently vacant, but the developers are said to envision a mixed-use transformation that's primarily housing with some retail.