DOWNTOWN CLEVELAND, OH (WOIO) - It's a 34 story glass tower that will change not only the look of Playhouse Square but will also add to the city's skyline.
The Playhouse Square Foundation is adding to its footprint by putting up a massive high-rise adding 319 apartments to the corner of Euclid and East 17.
Preparation on the site, which is currently a surface parking lot, begins next week with a groundbreaking coming in early April.
The project has a price tag of $135 million and according to the Foundation, financing details will come later. When asked if it will include any public funding from taxpayers, Cleveland 19 was told, "financing is still coming together."
"We have always taken a lead role in making sure our neighborhood is a vibrant destination in the heart of the city," according to Playhouse Square President and CEO Art Falco. "Early on, we created a list of things we wanted to accomplish – become a premier touring destination for Broadway, develop an iconic identity for the neighborhood – and with each success building on the one before, we have achieved those goals."
It was September 2017 the Downtown Cleveland Alliance announced downtown hit the mark of 15,000 residents.
The addition of more than 300 apartments for this project will help downtown Cleveland get closer to its goal of 20,000 residents by the year 2020, which is also the completion date for this project.
"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," Falco said.
The building will include an attached 550 space parking garage with retail space on Euclid Ave.
The high-rise will include 22,00 square feet of amenities including a pool, dog run, bike repair station, fitness area, grilling stations and more.