Apr 5, 2018

Playhouse Square Breaks Ground on “The Lumen”

Today Playhouse Square broke ground on its 34-story apartment tower: “The Lumen at Playhouse Square.” Standing 396 feet tall with a square footage of more than 602,000, The Lumen is the largest residential project undertaken in downtown Cleveland in 40 years.

Destined to become an icon of the Cleveland skyline, The Lumen will add to the distinct identity of the Playhouse Square District. Situated on a one-acre site at the corner of Euclid Avenue and East 17th Street, The Lumen will host 318 apartments; 528 parking spaces for residents, theater guests and other visitors; and nearly 20,000 square feet for resident amenities. Construction, which will employ 2000 workers, will be completed in summer 2020.

“The Lumen” was chosen as the name to reflect the energy surrounding Playhouse Square as well as the importance of light in theater in general and the Playhouse Square District in particular: the GE Chandelier, the marquees, retro sign and gateways.

“The Lumen lights the way toward the bright future of Playhouse Square,” said Playhouse Square President and CEO Art J. Falco. “If you think about it, we’ve come full circle from the days when the theaters almost became parking lots. Now we are turning what is already a parking lot into something much more beneficial for our neighborhood and for downtown Cleveland, which is really what Playhouse Square’s not-for-profit mission is about: driving 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,” said Jim Ratner, Chairman of the Playhouse Square Board of Trustees.

Residents of The Lumen 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.

Playhouse Square expects to complete financing for the $135 million project soon. Aside from a $15 million gift from the Richard J. Fasenmyer Foundation specifically designated for a residential project, funds raised through Playhouse Square’s $100 million Advancing the Legacy Campaign will not be used for The Lumen.

For more information or to register on the waiting list for an apartment at The Lumen, visit playhousesquare.org/apartments.

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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 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.

Development manager 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.

Architect Solomon Cordwell Buenz (SCB) is an award-winning architecture, interior design, and planning firm with a thoughtful design vision and a dynamic national imprint. Since 1931, SCB has made a lasting visual impact on skylines, campuses, and neighborhoods nationwide. From offices in Chicago and San Francisco, they offer their expertise to clients across the country, helping them achieve their goals and create unique built environments through a balanced understanding of high-level design, technical innovation, and sustainability. SCB is recognized as one of the nation’s leading designers of high-rise, urban residential buildings, having completed the design and construction of more than 105 high-rise, multi-family projects and 55,000 residential units. SCB has won numerous design awards including accolades from the American Institute of Architects (AIA), Urban Land Institute (ULI), National Association of Home Builders (NAHB), and International Interior Design Association (IIDA), among others . For more information visit www.scb.com.

Local architectural partner Vocon, established in 1987, is a global architecture and interior design firm focused on creating distinctive, productive environments for private/public sector clients throughout the country. Architecturally licensed in all 50 states, Vocon is a certified woman-owned firm with offices in Cleveland and New York.

Construction contractor Gilbane provides a full slate of construction and facilities-related services – from pre-construction planning and integrated consulting capabilities to comprehensive construction management, general contracting, design-build and facility management services – for clients across various markets. Founded in 1873 and still a privately held, family-owned company, Gilbane has 46 office locations worldwide. For more information, visit www.gilbaneco.com. Gilbane has been providing construction management services in Ohio since 1959.

Property manager Greystar Real Estate Partners is a fully integrated multifamily company offering expertise in property management, development and investment throughout the United States and abroad. Headquartered in Charleston, S.C., Greystar is the largest operator of apartments in the United States and manages nearly 400,000 units in more than 100 markets with more than 10,000 team members. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class services in the multifamily real estate business. The innovative Greystar business model integrates the management, development and investment disciplines of the multifamily industry. To learn more about Greystar, visit www.Greystar.com.