The Beacon will be the first high-rise residential building constructed in downtown Cleveland in decades.  The 20-story tower will have 18 floors with ten units, one floor with seven units, and one amenity level.  Building amenities include rooftop party room, rooftop patio, rooftop dog park, and fitness room including yoga studio.  The project site is ideally located within walking distance of East 4th Street, Gateway, the Theater District, Public Square and other downtown destinations, with direct access to RTA’s Healthline.

Project Partners:  Huntington National Bank, Cuyahoga County, City of Cleveland, Cleveland-Cuyahoga County Port Authority

Project Details

Completed Under construction - 2019 completion
Location 515 Euclid Avenue; Downtown
Project Type Mixed Use; New construction
Program 187 apartments; 8,000 SF retail
Sponsor Stark Enterprises
CDA Investment $5 million loan from ACDF
Total Project Costs $88 million
Community Demographics Poverty Rate: 36.4%
Median Income: 116.49%
Unemployment Rate: 17.8%

Impact

  • Diversity and Inclusion

    The project sponsor committed to construction participation goals for Minority, Female, and Cleveland Small Businesses (MBE/FBE/CSB) as well as minority, female and City of Cleveland resident workers.

  • Executed Community Benefits Agreement

    The project sponsor has committed to quantifiable community impacts by executing a Community Benefits Agreement.

  • Advances Neighborhood Revitalization

    The project is consistent with the vision identified in the Connecting Cleveland 2020 Citywide plan for the Downtown neighborhood to build more downtown housing on the parking garage at E. 6th Street and Euclid.

  • Accessible Public Transit

    The project is located on a major bus route.