The latter is Ohio's tallest residential building at 396 feet. That's based on the construction costs of two other Euclid Avenue apartment towers built in the last two years - the 28-story Beacon and the 34-story Lumen. The 250,000-square-foot Cleveland tower has a projected construction cost in the $85 million to $100 million range. Part of that financing involved refinancing City Club's Cincinnati property through the issuance of $68.5 million in debt by Asia Capital Real Estate.Ĭity Club said in a press release this week it has $750 million worth of projects under development/construction in Cincinnati, Detroit, Chicago, Pittsburgh, Minneapolis, Kansas City, Louisville and Cleveland with expansion planned for the East Coast.

'A lot has changed in the world since February (when Planning Commission last reviewed City Club Apartments) but this project has stayed the course.'īut sources said that City Club Apartments was able to nail down financing for its proposed 23-story Cleveland tower at 720 Euclid Ave. 'The developer is doing everything they can to start construction in November,' said Denver Brooker, a principal at Vocon Partners LLC, the project's architect.

Both panels unanimously approved final designs for the project. The comments were made this week at City Planning Commission and at the city's Downtown/Flats Design Review Committee. With the city's approval of final designs tomorrow for the City Club Apartments, the first of several cranes likely in 2021 could sprout in the spring.Ī member of the development team for City Club Apartments said the project is on track to break ground in November for the firm's first project in Cleveland. If you missed seeing construction cranes over downtown Cleveland, you may not have to wait long for their return. Not as much as feared just a few months ago (Vocon/CPC).

Global pandemic slowed the start of the project, the delay was A groundbreaking for the 23-story City Club Apartments tower onĮuclid Avenue could occur as early as November.

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