CRAINSCLEVELAND.COM I JUNE 17, 2024
Applications open for dual-use weed licenses
Crain’s is honoring women across Northeast Ohio for their outstanding work, leadership and impact on their communities. This year’s class represents the best of the region. PAGE 9
Still no sign when rec sales may begin By Jeremy Nobile
Ohio on June 7 officially opened up applications for dual-use cannabis licenses that will permit existing medical marijuana dispensaries to conduct non-medical sales with adults aged 21 and older. As Jim Canepa, superintendent for the Ohio Division of Cannabis Control, detailed in an April interview with Crain’s, the expectation is that these licenses can be award- Canepa ed in relatively short order and that rec sales could begin later this month. That is not guaranteed, however, because of many factors at play. “The (DCC) will review and process the applications roughly in the order that they have been received. Our focus up to this point has been to make
dual-use applications available to medical permit holders by (the June 7) deadline as stated in the voter-approved initiated statute,” said DCC spokesperson James Crawford. “As for what happens after that, it is too early to say how quickly dual-use permits will be turned around,” he added. “That is due to a number of factors, including: whether the applicant files a complete application; when inspection requirements are met; (and) when point-of-sale integration is completed, which will be necessary at each dual-use facility to ensure sales are properly distinguishing between medical and non-medical sales at check out, as well as taking into account the excise tax that will be part of non-medical sales.” See LICENSES on Page 29
Cleveland-area homes among most overvalued City ranks 12th on list of overpriced markets By Alexandra Golden
A new report echoes the ongoing story of rising home prices across the Cleveland area, ranking Cleveland among the top 15 overpriced markets. According to research from the Beracha and Johnson Housing Market Ranking, Cleveland ranks 12th among the top 100 markets in the U.S., with houses selling at a 33.3% premium over the expected average price. In the research, Eli Beracha, associate professor and depart-
ment chair of the Hollo School of Real Estate at Florida International University, and Ken H. Johnson, associate dean of graduate programs at Florida Atlantic University, found that homeowners in metro Cleveland are paying a premium for homes when compared with historical averages. The report uses the U.S. Census Bureau definition of the Cleveland metro area which includes Cuyahoga, Geauga, Lake, Lorain, Medina and Ashtabula counties. The data is compiled from the See HOMES on Page 29
PHOTOGRAPHY BY KEN BLAZE
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