Cleveland, OH – Destined to become an icon of the Cleveland skyline, an upscale apartment building will add to the distinct identity of the Playhouse Square District in early 2020. Situated on a one-acre site at the corner of Euclid Avenue and East 17th Street - replacing the parking lot across from the Connor Palace - the 34-story tower will host 319 apartments, 550 parking spaces and 22,000 square feet for resident amenities. Construction on the project will begin by late fall 2017.
“We have always taken a lead role in making sure our neighborhood is a vibrant destination in the heart of the city,” explained Playhouse Square President and CEO Art J. Falco. “Early on, we created a list of things we wanted to accomplish – become a premier touring destination for Broadway, welcome residents, develop an iconic identity for the neighborhood – and with each success building on the one before, we have achieved those goals. A high-rise development project is the next one of our long-held visions becoming a reality, and with the great demand for residential living downtown, the timing could not be better.”
Playhouse Square has partnered with Hines and Solomon Cordwell Buenz (SCB) to develop this project with the goal of amplifying the 24/7 live-work-play atmosphere of the Playhouse Square District. Playhouse Square will retain ownership of the property and engage the services of a management company yet to be determined.
“Hines is pleased to serve as development manager in bringing this state-of-the art apartment tower to one of the most vibrant communities in the Cleveland area,” said Hines Managing Director Brad Soderwall. “With our breadth of experience in upscale multifamily projects, this project will honor the quality and history for which the Playhouse Square District is known.”
Conceived by architecture, interior design and planning firm SCB, the design – will which go through the customary City of Cleveland design review process – includes several elements that refer to the surrounding theaters: on the tower, overlapping planes form a symbolic marquee and the graceful undulations in the garage façade recall a stage curtain. One of the tallest buildings in the area, the tower is largely composed of floor-to-ceiling glass, painted aluminum panels and exposed cast-in-place concrete, making a dynamic addition to the Cleveland skyline.
SCB Design Principal Devon Patterson explained, “We used glass to differentiate the tower from the historic buildings along Euclid Avenue and make the building into a beacon for the entertainment corridor, visible from downtown Cleveland. To mark the integration of this new residential community into the exuberant energy of the Playhouse Square District, we divided the form of the tower into three tiers that rotate out from the city grid at different levels that respond to the heights of the surrounding buildings. The northern edge of the building creates a signature profile, and the building is shifted over Euclid Avenue to provide residents with spectacular views.”
Residents will enjoy commanding views and resort-quality amenities including courtyard terrace with grill area and fireside lounge; electric car charging and car wash stations; pet spa; bike storage and repair station; concierge services; business and fitness centers; heated lap pool and more. Special care has been taken to create a complete separation of public and private traffic within the garage to ensure residents, theater guests and other visitors have an optimal experience.
“I’m sure people will wonder why a not-for-profit performing arts organization is building a high-rise apartment building,” said Jim Ratner, Chairman of the Playhouse Square Board of Trustees, “but this makes perfect sense when you consider that key components of our mission are to create an exciting district and drive economic vitality in the region. This investment is an example of our long-term real estate strategy, which is to build a working endowment to help secure the future of our historic theaters, and the entertainment and educational programs people enjoy in them.”
The largest performing arts center in the country outside of New York, the not-for-profit Playhouse Square is Northeast Ohio’s destination for Broadway and more great entertainment. A thriving downtown neighborhood, residents, office workers and visitors can dine and relax at one of more than 12 area restaurants or on U.S. Bank Plaza under the glow of the world’s largest outdoor chandelier – the GE Chandelier. Playhouse Square is a champion of arts education and downtown Cleveland, and proud to be the home of Cleveland Ballet, Cleveland Play House, Cleveland State University Department of Theatre and Dance, DANCECleveland, Great Lakes Theater and Tri-C JazzFest.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 189 cities and in 20 countries. Hines has approximately $96.5 billion of assets under management, including $48.5 billion for which Hines provides fiduciary investment management services, and $48 billion for which Hines provides third-party property-level services. The firm has 114 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1206 properties, totaling over 390 million square feet. The firm’s current property and asset management portfolio includes 533 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.
Solomon Cordwell Buenz (SCB) is an architecture, interior design, and planning firm that practices nationally from offices in Chicago and San Francisco. Since 1931, SCB has made a lasting impact on the nation's skylines, campuses, and neighborhoods, helping its clients across the country achieve their goals, serve their constituencies, and make their mark.