Last night at Playhouse Square, the donor support group known affectionately as Leading Ladies, learned from outgoing CEO Art Falco about his last major project in the theater district before he turns the reins of this non-profit performing arts organization over to incoming CEO, Gina Vernaci.
The Lumen, a 34 story apartment building underway on the corner of Euclid Avenue and E. 17th will dramatically change Playhouse Square’s look and feel when tenants begin moving in in 2020. Art was determined to make this building exceptional and after studying the typical amenities and look of higher end rental buildings in the market, decided to make The Lumen feel more like walking into a 5 star hotel, with granite and marble finishes and floor to ceiling windows.
In April of 2018, Playhouse Square’s board of trustees were each given a shovel for a ceremonial groundbreaking, including EA President, Margy Judd (left).
The reasoning behind the name choice for The Lumen (a term for a measure of light) is to reinforce the energy in the theater district, the outdoor GE chandelier hanging in the middle of the theater district and because it will add new illumination to the nighttime sky in downtown.
The largest new residential building in downtown in 40 years, construction crews had to drill down 250′ to hit bedrock (lots of sand along the shores of Lake Erie). It replaces a surface parking lot that was a big gaping hole in the otherwise beautiful smile that the theater districts grand old buildings shine onto Euclid Avenue. This 400′ building will have Lake Erie views once you hit the 9th floor and penthouses on the top levels will have 360 degree sightlines out to University Circle to the east and to Ohio City and beyond on the west.
- 300 apartments
- units range from 580 SF one bedroom apartment to 12 two story 2,000 SF penthouses
- 530 parking spaces (at least one for each apartment)
- 72 balconies
- the 5th floor rooftop of the parking garage will have amenities for residents including an outdoor swimming pool, fitness center, fire pits and grilling station, business center, dog run and pet spa
- rent will range from $1,500/mo to $5,000/mo
- June 2020 move ins for first residents
- top floor will feature 5,000 SF party space for both residents and available as an event venue
- windows that open for fresh air
Of the 300 people who have indicated an interest in seeing a finished model suite, Art guesses that as soon as the exterior glass facade is put on and the building looks more complete, he’s betting that number jumps to 500. And those on the reservation list are almost exclusively made up of either CLE suburbanites, ready to give downtown living at try and out-of-state residents considering a relocation to CLE – very little cannibalizing other downtown buildings.
Downtown buildings continue to be almost 95% occupied and The Lumen will add an additional 300-500 new residents, edging the population of downtown closer to it’s goal of 20,000 residents by 2020.