CLEVELAND (WJW) – Built in 1964, with the attached Galleria completed in the 1980s, the 40-story Erieview Tower has long been planned for a facelift.
“This asset has gone through quite a bit of transition with the last financial downturn …a lot of starts and stops to a facelift on the building and as such, the galleria has suffered from a tenancy perspective and been underutilized,” said Anthony Delfry of Brown Gibbons, Lang & Company.
On Wednesday, the state announced it will provide more than 13 million dollars of tax credits toward a dramatic transformation.
The Erieview Tower, which is listed on the national register of historic places, will be home to 201 high-end luxury apartments and more than 200 hotel rooms under the Marriott International ‘W’ branding.
“I’d say what’s most important as it relates to the apartments is that this is the first time they have actually twinned a ‘W’ hotel with for-rent, not for sale, ‘W’ branded apartments and that’s a first for North America,” said Delfry.
The residential suites will be the first of their kind in Ohio under Marriott’s high-end ‘W’ branding. The company has similar residences in Aspen Colorado, Hollywood California, Dallas Texas, Atlanta Georgia, New York City in Manhattan and South Beach in Miami.
“Those markets, some of which you mentioned, have sports and entertainment as themes and candidly that’s what drew them to Cleveland as compared to Columbus or Cincinnati,” said Delfry.
He believes the property here is a rare find, a high rise in a mid-sized American city with views of Lake Erie, First Energy Stadium and the city. When it was built, it was the tallest building in Cleveland next to the Terminal Tower.
The project is anticipated to include a high-end restaurant on its upper levels and could include a rooftop bar. Significant renovations, including restaurants, are expected in the 13-thousand-square-foot galleria.
“A lot of the placemaking the tenants the types of tenants that make sense for the galleria are going to be driven by how Marriott and the w brand sees is complimentary to what’s going to be in the tower,” said Delfry.
Governor Mike DeWine released a statement about the project saying he expects it to create about 270 construction jobs as well as about two thousand full-time jobs targeted to residents of the surrounding neighborhoods.
The project is expected to begin next year and wrap up sometime in 2025.