Cleveland’s Erieview Tower Secures $217 Million for Massive Redevelopment

The redevelopment of the 40-story 1964 structure at East Ninth Street and St. Clair Avenue aims to modernize the historic site into a dual-purpose hub. Once completed in 2027, the tower will house a 210-key W Cleveland hotel—the brand’s first in Ohio—alongside 215 W Apartments. This residential component marks a global first for the W brand, offering units exclusively for rent.

Financing and Strategic Partners

Nuveen Green Capital anchored the deal with $93.4 million in C-PACE financing, specifically earmarked for energy-efficient mechanical systems and building-envelope improvements. Additional capital came from ERIEBANK, which provided $20 million in senior debt, alongside investments from Foss & Company and Consortium Structured Investments for historic tax credits. The project also secured local support through Cuyahoga County loans, city tax abatements, and state brownfield remediation funds.

Beyond the financial structure, the project emphasizes a high-density amenity model. Plans include a 38th-floor restaurant, a full-service spa, and a 15,000-square-foot ballroom, all designed for internal access to accommodate residents, office tenants, and hotel guests regardless of weather conditions. Managing Director Anthony Delfre noted that the project reflects a broader push for high-quality multifamily housing in Northeast Ohio, aligning the firm’s advisory work with the evolving needs of the downtown Cleveland market.