Developer shows interest in Hoover site
By Dottie McGrew
The purchase of the 68-acre Hoover factory and office complex by California developer Stuart Lichter looks promising.
The “due diligence,” or intense inspection agreed to by Lichter and TTI Floor Care of North America in early August continues as a first step in the purchase process.
While in the city, Lichtner, Mayor David Held and community leaders met and attended a lunch at Walsh University.
Held said Lichter has a “strong interest” in purchasing Hoover that goes back to the days
when Maytag owned the property.
Possible uses for the property are light manufacturing, warehousing, retail and, perhaps, residential.
Mayor Held said the city would “absolutely do everything possible to smooth the way toward bringing new jobs to North Canton, including tax incentives.”
Lichter, 58, started buying and rehabilitating distressed properties 30 years ago. He founded and is president and senior managing partner of Industrial Realty Group.
Lichter’s interest in distressed properties has brought him often to Northeast Ohio where many big companies are closing.
In addition to the Hoover acquisition, Lichtner is currently in negotiations with Goodyear over his part of the proposed corporate headquarters project.
The developer has led several high profile industrial facelifts in Northeast Ohio, including transforming the former B.F. Goodrich campus in Akron into Canal Place, the former Lockheed Martin-owned property around Akron Fulton International Airport and the former Ford assembly plant in Lorain.
TTI Floor Care North America plans to close most of the Hoover plant this month, moving operations to Texas, Mexico and China.
In an Aug. 20 article in Plastics News Magazine, TTI Floor Care North America President Chris Gurreri ruled out doing away with either the Hoover or Dirt Devil name.
Gurreri is quoted in the article as saying that “Dirt Devil and Hoover are very distinct brands. Dirk Devil consumers are those who know they have to clean up the house but don’t like to . . . and want it done quick. A Hoover consumer would be one that wants to buy the best and have the best cleaned, spotless room they can.”
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