In addition to the 5 main theatres (Connor, State, Ohio, Allen and Hanna) the Square also includes the Cleveland Play House, which uses the Outcalt and Helen theaters, the Upper Allen theater, and the Westfield Studio theater. Playhouse Square is the largest performing arts center in the nation outside of New York. Cleveland, Ohio’s Playhouse Square Theatre District has its own chandelier hanging over Euclid Avenue.Įuclid Avenue in Cleveland, Ohio is THE place to be if you are a theater person. The glass front building is 34 stories high and reflects the Keith Building across the street. This time, their email was offering tours of their brand new luxury apartment building, The Lumen. That's the bottom line.As a Playhouse Square season ticket holder who is totally missing theatre right now, I open every email that they send me. … What's great is that we don't have any pressure. "If the stars align and multifamily is still strong and there's an interested buyer, we would entertain it," he said. The $135 million project drew on a $15 million gift earmarked for a residential tower and garage, cash freed up through a tax-exempt bond deal and a relatively modest construction loan.įalco confirmed that Playhouse Square doesn't necessarily view the Lumen as a long-term hold, though he said the nonprofit isn't trying to sell the building today. Playhouse Square, which has long treated real estate as a working endowment, teamed up with development manager Hines to build the Lumen. Those rates top out at $3.82 per square foot for the penthouses, on the tower's 33rd and 34th floors. Rents at the Lumen, where 70% of the units are one-bedrooms, shake out to an average of $2.48 per square foot, said Matt McClung of Greystar Real Estate Partners, the property manager. "Cleveland's never had this before," said Halpern, who has lived downtown for about six years. The landscaped deck, atop the parking garage, is outfitted with a heated lap pool, cabanas and a shaded bar overlooking Euclid Avenue near East 17th Street.Įventually, Halpern expects to host events on the 35th floor, where a sky lounge and a small deck showcase the lake and the city stretching eastward. He's holding in-person meetings with clients on the Lumen's fifth floor, a 22,000-square-foot amenity space that includes abundant seating, individual workstations and fitness facilities. His 30th-floor perch offers views of Lake Erie, Progressive Field and the high-rises clustered around Public Square. Halpern rented one of the building's most popular floor plans, a one-bedroom unit with a den that he's using as an office. Tenants pay extra for parking in the attached, 530-car garage, which also will serve theatergoers and downtown workers. All in all, we're pleased."Īpartments at the Lumen range from a 570-square-foot one-bedroom to a nearly 2,000-square-foot penthouse. "Since the city's been shut down, the theaters have been shut down, a lot of people don't even know this building is finished. "We're signing four to five new leases a week, which we hope to accelerate," said Falco, who retired in 2019 from his longtime role as Playhouse Square's president and CEO but stayed on to shepherd the Lumen. Even in the midst of a pandemic, he believes the tower will take only a year to fill up. And landlords are offering concessions to lure tenants.īut Playhouse Square, with a rare ground-up project celebrating its grand opening this week, is optimistic.ĭuring a recent tour, special adviser Art Falco said the building is attracting strong interest from potential tenants. The coronavirus has cast a hush over the central business district, with major events canceled, office buildings largely empty, and restaurants and retailers struggling to stay afloat.ĭowntown's residential vacancy rate is rising, thanks in part to the influx of more than 800 new units this year among the Lumen, the May on Public Square and the Beacon tower near East Fourth Street. The Lumen, owned by Playhouse Square, the nonprofit that oversees downtown's theater district, made its debut during a disruptive summer for the downtown rental market. The 318-unit building started leasing in July and is marketing its expansive common areas as "the ideal place to stay social while distancing." The apartments are 27% leased and 18% occupied. Halpern, a 28-year-old attorney, moved into the Lumen a few weeks ago. He's also dropping his law firm's suburban office space in favor of working, long-term, from the Playhouse Square tower that he now calls home. Josh Halpern didn't just leave another downtown apartment building for the Lumen.
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