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Cleveland: Downtown: The Lumen

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On 12/31/2019 at 11:49 PM, Larry1962 said:

IF PLAYHOUSE SQUARE builds Lumen #2 Tower on the SE corner of East 13th and Chester and IF Victory Properties, Inc. also builds a residential tower across the street that will REALLY REMAKE THE ENTIRE FEEL OF THAT PART OF CHESTER AVENUE!

 

KJP   

Posted 11 hours ago:

Word is that PHS is making financial preparations for a Lumen, Act 2, ie fundraising, etc. They anticipate a positive response to Part 1 based on the  reaction so far to The Beacon. But they still need to see actual numbers from Act 1 before taking more solid moves for Act 2.

 

On PHS-owned land on the SE corner of East 13th and Chester.

I think the Lumen is a most attractive building and will have no problem filling up just as the beacon is filling up per apartment.com.

However I think there will be a lot of lateral movement - because at the time the  Beacon has come online the vacancy rate for other

apartment buildings downtown has substantially increased. ( Standard, FEB, Creswell, Statler & others). Now, I realize that some renters

buy homes when their lease is up, but i think their is a lot of lateral movement to brand new buildings. The Standard & FEB vacancy rate is increasing by the

month.

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On 1/6/2020 at 2:17 PM, simplythis said:

I think the Lumen is a most attractive building and will have no problem filling up just as the beacon is filling up per apartment.com.

However I think there will be a lot of lateral movement - because at the time the  Beacon has come online the vacancy rate for other

apartment buildings downtown has substantially increased. ( Standard, FEB, Creswell, Statler & others). Now, I realize that some renters

buy homes when their lease is up, but i think their is a lot of lateral movement to brand new buildings. The Standard & FEB vacancy rate is increasing by the

month.

 

I just checked both the websites of the Standard and FEB.  The Standard shows 14 available apartments right now (about 95% current occupancy) and FEB shows 28 available apartments right now (about 87% occupancy).  So while the vacancy has gone up a little (FEB was at 92% occupancy for the longest time) it is not a substantial increase in my humble opinion.  I haven't been tracking with the other developments to speak to their increase in vacancy.

Edited by cle_guy90
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15 minutes ago, cle_guy90 said:

 

I just checked both the websites of the Standard and FEB.  The Standard shows 14 available apartments right now (about 95% current occupancy) and FEB shows 28 available apartments right now (about 87% occupancy).  So while the vacancy has gone up a little FEB was at 92% occupancy for the longest time it is not a substantial increase in my humble opinion.  I haven't been tracking with the other developments to speak to their increase in vacancy.

Go to apartments.com or forrent.com and they show different numbers. As per Apartments.com The Standard has 23 available and another

11 coming online within 2 months. Whereas FEB has 19 available with 6 coming coming online in 2 months. I don't 

know why there would be such a discrepancy of data.

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33 minutes ago, simplythis said:

Go to apartments.com or forrent.com and they show different numbers. As per Apartments.com The Standard has 23 available and another

11 coming online within 2 months. Whereas FEB has 19 available with 6 coming coming online in 2 months. I don't 

know why there would be such a discrepancy of data.

Hmm that is weird!  Not sure why either!

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The lateral movement in the Lumen will depend on the renting price.  Part of why I think we need varying rents downtown, attracts different populations.

 

On that note, really can’t wait to get more info on the Lumen!  

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It really does anchor the east end of downtown!

 

I knew of an older photographer who took me around town one day. He would pull over in the travel lane of busy arterial roadways, even I-490, lean over, and snap some photos with his camera. I'm surprised we didn't get rear-ended that day.

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1 hour ago, ASPhotoman said:

19 News has a few videos up on their website. A really great GoPro video mounted on the topping off beam.

 

https://www.cleveland19.com/2020/01/08/lumen-tower-playhouse-square-is-step-closer-completion/

I will say the beacon definitely has better views that the Lumen even though the Lumen is taller. Unfortunately being on the edge of the Downtown skyline means that it has a lot of parking lots and smaller buildings around it. Still great views though!

Edited by cle_guy90

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24 minutes ago, cle_guy90 said:

I will say the beacon definitely has better views that the Lumen even though the Lumen is taller. Unfortunately being on the edge of the Downtown skyline means that it has a lot of parking lots and smaller buildings around it. Still great views though!

It’s only a short amount of time before those parking lots will be developed.

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Nice view of Act I and the site for Act II. 🙂 

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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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1 hour ago, KJP said:

 

Forget NYC. We need trees to have a Forest City feel!

 

 

 

Speaking of NYC   -   Sorry to be so self indulgent here, but... 😁

 

IMG_8211.thumb.jpg.6da13b3ffff26804d8538551bd416277.jpg.d96263b635a476f4bdf864ec620e4772.jpg     images.jpg

 

Edited by ExPatClevGuy
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On 1/9/2020 at 1:01 AM, KJP said:

Nice view of Act I and the site for Act II. 🙂 

KJP, sorry I am just now seeing this, but which of those 2 lots are you referring to for phase II. I ask because playhouse square only owns one of the two. Geis owns the big one next to the Greyhound which we have talked about for a while being developed. I am kind of hoping that you are referring to the lot on the south side of chester. If that were the case, it would be an awesome race to see who could build the better building (nonprofit or private). Maybe at the same time!

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49 minutes ago, YO to the CLE said:

KJP, sorry I am just now seeing this, but which of those 2 lots are you referring to for phase II. I ask because playhouse square only owns one of the two. Geis owns the big one next to the Greyhound which we have talked about for a while being developed. I am kind of hoping that you are referring to the lot on the south side of chester. If that were the case, it would be an awesome race to see who could build the better building (nonprofit or private). Maybe at the same time!

 

This was discussed in the previous page of the thread - The PHS-owned land is located on the SE corner of East 13th and Chester, distinct from the Victory Properties owned land on the NE corner.

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It's the five parcels (10301001, 2, 3, 4 & 38) bounded by East 13th, Chester, Dodge and the PHS parking deck....

 

20200114_232429.jpg

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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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Some views of the site

 

Lumen2site-4.jpg

 

Lumen2site-3.jpg

 

Lumen2site-2.jpg

 

Lumen2site-1.jpg

Edited by KJP
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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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Thanks all! It would be nice if PHS constructed liner units along the existing garage fronting Chester. It is set far enough back from the street that you could hide it with 5-6 stories of residential.

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1 minute ago, MayDay said:

Best I could do at 50mph this morning (as a passenger!) - still can't convince the husband to come to a dead stop on the Innerbelt during rush hour 😉

 

 

Sometimes rush hour traffic will do that for you. 🙂

 

BTW, you can see some of the cleaning they're doing on the RKO Radio's B.F. Keith Building.

Edited by KJP
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"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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22 minutes ago, MayDay said:

Best I could do at 50mph this morning (as a passenger!) - still can't convince the husband to come to a dead stop on the Innerbelt during rush hour 😉

 

 

IMG_3713.jpg

 Can't say I blame him. Great pic tho.

Edited by Frmr CLEder
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1 hour ago, ASPhotoman said:

I was really hoping they'd put an opaque covering for the top layer so they could illuminate the top of the building.

 

Is the top floor a penthouse or an amenity deck? I seem to recall their amenity deck being at the level of the roof of the adjoining garage. Either way, it could be internally illuminated although probably illuminated more often as an amenity deck.


"Life is 10% what happens to you and 90% how you respond." -- Coach Lou Holtz

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11 minutes ago, KJP said:

 

Is the top floor a penthouse or an amenity deck? I seem to recall their amenity deck being at the level of the roof of the adjoining garage. Either way, it could be internally illuminated although probably illuminated more often as an amenity deck.

I thought the top floor was supposed to be a mechanical floor. You're correct that the amenity desk is on the lower level next to the garage. I just couldn't see them covering the top floor with something transparent if it was mechanical. 

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The site of The Lumen Act II looks much larger than the current construction site. My guess is that if a second tower is made, it will be much shorter due to the large sq ft area. Does anyone know how many acres this site is?

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Just measured them on Google Earth:

Lumen site = approx 1 acre

potential Lumen 2 site = approx .75 acres

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1 minute ago, X said:

Just measured them on Google Earth:

Lumen site = approx 1 acre

potential Lumen 2 site = approx .75 acres

Wow I guess I was wrong. That's a small site. Looks like the opposite is true then. Lumen Act II has the potential to be even taller.

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20 minutes ago, X said:

Just measured them on Google Earth:

Lumen site = approx 1 acre

potential Lumen 2 site = approx .75 acres

 

Does the measurement for site 1 include the garage or is it just for the building?

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Just now, Potamus said:

 

Does the measurement for site 1 include the garage or is it just for the building?

 

It would have to include the garage because an acre is over 43k sqft.  Just 25 floors would be over a million sqft.

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They include the site, which both the garage and building are being built upon.

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24 minutes ago, CLE_Millennial said:

Wow I guess I was wrong. That's a small site. Looks like the opposite is true then. Lumen Act II has the potential to be even taller.

 

I remember an article from Ken a while back saying that with the zoning and height district(6) that it was in, they could build a 600' mixed use building without even needing a variance. 

 

A 600' or greater would be amazing, plus it would add so much to the feel of the PHS, and even more to the upper east side of CLE.

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