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Once slated to hold more than 860 units of workforce housing, the historic Union Trust Building at East Ninth Street and Euclid Avenue now will house 413 such units. Market-rate apartments, a 170-room Curio by Hilton hotel and offices will fill much of the remaining space.
The financing is a key piece of the puzzle for the tricky redevelopment of the vacant Union Trust Building on Euclid Avenue.
The 164,000-square-foot deal is the largest new lease in Cleveland's central business district in years. It's a coup for the Millennia Cos., which has made major investments in amenities since buying the Key Center complex in early 2017.
Millennia Housing Management gets new president Barry P. Weaver, president, Millennia Housing Management, Ltd. Barry P. Weaver has been promoted to president of Millennia Housing Management from executive vice president. Millennia Housing is the apartment ownership and management unit of Cleveland-based Millennia Cos. Weaver, who joined Millennia Housing in 2020, succeeds Lee J. Felger as president following Felger's advancement to chief operating officer of Millennia Housing, according to a May 10 news release. Frank T. Sinito, founder and CEO at Millennia Cos., said in a release that Weaver...