Ohio – More Adult-Use Licenses Coming Soon (Voting in November)

Here's some exciting cannabis news out of Ohio that not many know about. The state is voting to allow adult-use cannabis sales, and if the vote passes, it means there will be a huge expansion of retail cannabis stores.

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TLDR: If adult-use passes in Ohio current medical licenses holders will be granted additional licenses to allow for more stores and cannabis access. 

In 2021, CannDev played a part in winning 10 retail licenses in OH and currently owns 6 properties leased by licensed medical cannabis dispensaries. These are located in Cincinnati, Columbus, Dayton, Elyria, Euclid and Ravenna. We know Ohio well and are excited about the potential expansion in this market.

With new licenses for dispensaries soon to be available CannDev is evaluating various markets to discover the best opportunities where high revenues will be possible. Which includes underserved and border areas that populations in nearby states can visit. If you’re interested in gaining access to our OH retail locations click here.

Below is a recap of the potential Ohio adult-use program if the voters pass the initiative in November. 

Adult-Use Summary

  • Medical to adult-use licenses:
    • Existing medical dispensaries shall be issued an adult-use license for their existing location
    • Medical dispensary could be issued 1 additional license at another location
    • Level 1 cultivator could be issued 3 adult-use dispensary licenses
    • Level 2 cultivator could be issued 1 adult-use dispensary license
  • One individual may be issued no more than 8 adult-use dispensary licenses
  • The state would issue 50 additional adult-use licenses with preference to social equity applicants
    • State may issue additional cannabis licenses 2 years after first adult-use license issued
  • Adult-use applications would be available within 6 months of passage of the Act (possibly June 2024)
  • 500 foot buffer from prohibited facilities does not apply to existing medical license holder (i.e. a location that was awarded a medical license but had a school open before the adult-use license was issued would still be allowed)

This all looks very promising if the voters approve the measure!

If you’re interested in dividing deeper check out this map of existing medical dispensary locations

If you’re an existing Ohio medical license holder (even cultivation) and would like to consider the compliant retail options CannDev will have available please sign up here: 

Gain Access to our Ohio Deals Here

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Applicants with real estate have a significant advantage as they will be fast tracked through the process and also have a flag planted for their location which will potentially buffer out competition.

The application window will remain open for 60 days, but the earlier an application is submitted, the better.

CannDev secured 10 locations (see below) in various markets around NY state. Please take a look at them and let us know if they are of interest.

In addition, we have dozens of sites coming in the 5 NY boroughs. To access these private deals you must be signed up to our NY list.

Redondo Beach: Opening Soon for Retail Applications (2 locations available)

Redondo Beach is one of the best retail cannabis markets to come online in 2023. There will be awarded 2 retail licenses to serve a population of more than 70,000 people within the city limits. This city is surrounded by opt out markets and within a 10 min drive time is a population density of over 350,000! (see image below)

Redondo Beach have finalized the zoning ordinance and have a City Council meeting on August 15 to discuss the application process.

Now is the time to secure a location before the competition does, and before the costs increase.

Interested in receiving alerts for our off market retail deals?

Where we send you new deals in emerging cannabis retail markets soon to open up for soon to open for applications.

As you know, new markets around the country are opening up at a rapid pace.

This creates enormous opportunity for those who can be the first to plant a flag in a new city and secure a ‘first mover advantage.’

We’re currently securing compliant retail real estate in many markets throughout the USA.