Park Ridge is anticipating only one marijuana dispensary, not two, in the near future after World of Weed, Inc. relinquished its special use permit for a recreational cannabis dispensary at 1036 W. Higgins Road, according to city officials.
World of Weed did not provide a specific reason for why it was abandoning the permit. The special use permit, awarded by the city in February, would have allowed World of Weed to open a dispensary under the name Ivy Hall.
Had Ivy Hall opened, it was anticipated to have generated between $320,000 and $400,000 in tax revenue for Park Ridge annually and done between $8 and $10 million in sales, based on projections used in the application process.
World of Weed attorney Andrew Scott said he was unable to comment on the company abandoning the permit. The company’s president, Greg Elliot, did not reply to requests for comment.
Mayor Marty Maloney announced the news briefly at a June 6th meeting of Park Ridge’s City Council.
“There was another special use for an adult cannabis dispensing organization that was granted on Higgins,” he said. “That business entity that was going to be operating that [facility] has withdrawn its application. So right now there is no other