“Not too bad.” Adjusting to COVID-19 also meant marketing the space had to shift from actual to virtual. “We were supposed to open July 1,” McClung says. The coronavirus slowed construction of the $135 million project by only a few weeks, McClung notes, adding people began to move into The Lumen that July 19. “We have an abundance of people coming in this summer,” McClung says. Occupancy stood at 44% as of mid-May, and more than 75% of the apartments in the gleaming, 318-unit structure have been leased. A $55 million construction loan, $50 million in tax-exempt bonds, a $1 million Cuyahoga County loan and $5 million in the tax-increment financing that has helped so many downtown Cleveland projects figure in The Lumen’s finance stack.ĭespite a challenging gestation, The Lumen is doing well, particularly in light of the COVID-19 pandemic, McClung says. Putting together the financing took quite some time, and construction wasn’t over until fall of 2020. Groundbreaking for the project took place in April 2018. The developer chose “lumen” as the building’s name “to reflect the energy surrounding Playhouse Square” and the importance of light in theater, according to the Playhouse Square website. The Lumen’s glittering palette, underlined by those vivid “theater red” accents, also references the giant GE Chandelier beaming over Playhouse Square. | Photo / Amanda KoehnĪt nearly 400 feet, Cleveland’s newest skyscraper dominates its one-acre lot and is far more dramatic than the parking lot it supersedes. 17th Street and Euclid Avenue, is in the heart of Playhouse Square. It’s also the first ground-up apartment building constructed in Cleveland in 40 years, according to a news release from Playhouse Square, the nonprofit that owns The Lumen. Selene looms large in a very big, paradoxically graceful building.Īccording to Matt McClung, senior community manager for Greystar, the company managing The Lumen, the 34-story, glass-walled edifice in downtown Cleveland’s Playhouse Square is Ohio’s tallest residential structure. Selene’s image took about a week to install. Part, too, stems from the giant mosaic of Selene behind check-in.įramed in a red more akin to scarlet, the Greek goddess of moonlight in the tall, silver lobby consists of 22,400 tiles created in Spain. Part of that derives from the luminous, silver-colored upholstery on the sleek lobby furniture. 17th Street and Euclid Avenue you step into an atmosphere designed to make you feel larger – and, perhaps, richer – than life.
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