He notes that “at this point, we don’t have many children.” McClung speculates the average age of a Lumen tenant is 38, and the dominant demographic is working professionals. Those accustomed to working from home but miss going to the office can use the business center on the fifth floor to “go somewhere different within the building,” McClung says.
The lumen cleveland professional#
The tenant mix includes professional athletes, medical professionals, college students and suburbanites seeking to downsize. The Lumen’s 35th floor Sky Lounge overlooks downtown Cleveland, Cleveland State University and the lakefront. “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. IX is proud to be a part of another historic downtown transformation.When you enter The Lumen at E. Opening spring of 2020, the Lumen will illuminate and forever transform the Cleveland skyline. Due to the efforts of the entire team, the project met all initial critical milestones. Upon completion of these caissons, IX returned to complete the final excavation and grading in order for Gilbane’s concrete subcontractor to begin the concrete mat foundations. IX worked expeditiously to complete initial excavation of the site in order for Gilbane’s caisson contractor to mobilize. Through a joint project team effort, IX was able to develop a plan to successfully remove these foundations, and maintain the schedule, preserve the Hanna and allow for the placement of the new garage foundations. The Lumen, sits within inches of the almost 100-year-old 16-story structure. Other site challenges included the removal of the buried foundations adjacent to the foundations of the historic Hanna Building. Our crews worked six days a week to clear the way for construction, in a way that mitigates excessive costs and limits impact to the project schedule. Although a challenging discovery, through the partnership of IX, Gilbane and Hines, a plan for removal of these foundations was developed. IX broke ground in March 2018, and from the first bucket in the ground, IX discovered the first of many building foundations that had been abandoned intact under the existing asphalt parking lot.
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