WESTLAKE-- American Greetings has announced a delay in plans to build a new world headquarters at Crocker Park in Westlake.
City officials say they were notified of the delay Tuesday, right before a construction planning meeting.
"When we heard of the news, it was a bit of a shocker. But we understand. A 100-year-old company going from public to private is a really big deal," said Prashant Shah, finance director.
The company is contemplating a buyout offer from the CEO and COO of the Weiss Company. For now, construction plans are on hold.
"Fortunately, we were in a phase when we would accept the documents, sign a contract, then give the contractor the go-ahead to start clearing the land. That would not have happened in the winter, anyways," said Shah.
In May, American Greetings released designs for the new studios.
The 655,000 square foot building was designed by RTKL architects, and will include retail space.
The project was originally set to be completed mid 2014. American Greetings says the delay will be short and will have no adverse impact on the company.
"The board of directors wants to take a little time before moving forward with a big project, such as this. They are coming," said Shah.