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Cleveland: Midtown: Development and News

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Dream-Hotel-Cleveland-ExteriorMay2020.jp

 

WEDNESDAY, MAY 27, 2020

Dream Hotel tower at Masonic Temple in Midtown planned

 

One thing's for certain -- the Coronavirus pandemic hasn't slowed the rapid spread of plans for high-rise towers in Cleveland.

The latest is a proposed 19-story, $60 million Dream Hotel proposed to rise alongside the Masonic Temple, 3615 Euclid Ave. The project was announced today by investor Beaty Capital Group of Fort Smith, AR which bought the 99-year-old temple in 2017 and renovated it last year for $8 million with another $10 million in renovations planned. The same firm bought and renovated several other Masonic halls nationwide.

 

MORE:

https://neo-trans.blogspot.com/2020/05/dream-hotel-tower-at-masonic-temple-in.html

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

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^ Oh, yes please! Genuinely more excited about the prospect and impact potential of this than anything else currently in the works around town. 
 

It will also give the University Hotel and Suites over the road some competition! 😅

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Woa, that one feels like it came out of nowhere. Very very cool plan for a unique property. The potential for spinoff is even more exciting. The gap between downtown and UC is closing. 

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Amazing project! Adding height to Midtown now that things are expanding in the area is great and I think this will definitely spur that progress if (more like when hopefully) this comes to fruition. It's honestly amazing in general to me that projects such as this and other high rises are still being announced/built (ex. INTRO) despite the pandemic. Truly amazing!

 

On the visual-side of things, I think it is mildly interesting that - at least for me - the first thing I thought of when I saw the rendering was the proposed Cleveland Foundation HQ nearby in Midtown. Maybe that's the goal, maybe not, but I think that similar designs such as these that work together cohesively (for both projects I mean) can really give Midtown a unique vibe as a  hotspot between downtown and UC.

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On 1/30/2019 at 7:59 AM, KJP said:

@X Let's finish the Masonic Memorial Tower!

 

masonicmemorial-1.jpg

 

Dream Hotel might lack the charm of this vision, but still a welcome addition.

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That's a great design for the hotel too. I was expecting some crap like the Tru a couple blocks away. Here is a direct link to TalkBusiness.net where that rendering came from with a bit more info about Beaty Capital Group and Dream's broader growth plans.

 

https://talkbusiness.net/2020/05/beaty-capital-dream-hotel-group-announce-60-million-hotel-project-in-cleveland/

 

Quote

Beaty Capital, Dream Hotel Group announce $60 million hotel project in Cleveland

 

 

Beaty Capital Group of Fort Smith is partnering with New York City-based Dream Hotel Group to build the first of a “Dream Hotel” brand at the TempleLive music venue in Cleveland. The venue is the Cleveland Masonic Temple building purchased by Beaty Capital in March 2017.

 

The estimated $60 million project will result in a 207-room “lifestyle hotel” that will include restaurants, “nightlife venues,” a fitness center and 100,000 square feet of meeting and event space. The project will also include a 400-space parking deck. Hotel guests will also be able to access the renovated 2,300-seat theater in the Masonic Temple.

 

Construction is set to begin in early 2021 with an opening set for 2022.

 

“Today’s announcement is a testament to the strength of our brands and growing confidence in the travel industry despite these unprecedented times,” Dream Hotel Group CEO Jay Stein said in a statement. “Cleveland is the birthplace of rock and roll, and much like the Dream Hotels brand, it is a city marked by a youthful, vibrant energy, creative spirit and burgeoning arts and culture scene that many aren’t yet aware of. Together, with partners Beaty Capital Group, our goal is to deliver an experience-driven property that surpasses expectations, blending great food and beverage, creative programming, entertainment and world-class hospitality, in the heart of Midtown Cleveland.”

...

 

 

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55 minutes ago, LlamaLawyer said:

Now THAT is a gorgeous rendering. Awesome scoop @KJP. This has got to be hands down the most exciting proposal east of the CBD.

 

Just wait....

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Wow...This is quite the surprise. The city needs to find a way to create a more pleasant connection between the main commercial drag of Euclid and the quaint residential neighborhoods north of Payne. Chester is terrible. Hopefully the OC renders Chester useless. 

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This is tall enough (maybe) that it will carry the skyline eastwards a little further from certain viewpoints.  From the west side, Fenn Tower looks like a random blip going east, but this will start to create a cluster of buildings around there, tying it back to the Rhodes tower and the Lumen.

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How rare that a new development of this scale feels like it came from nowhere!  Midtown is starting to get exciting!

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2 hours ago, freethink said:

WoW, this came out of nowhere. Please build this we need more contemporary modern looking buildings please please please...thnx for another K-Bomb...

 

 

It was as much of a surprise for me too. While I was waiting for Epstein to return my call, I was going around to some of my usual sources who are pretty plugged in, and they all thought it was a gag being played on me. So when Epstein returned my call, I asked him straight up -- "Is this a real project?" He said yes, and then proceeded to say some of the stuff I put in the article.

 

These are my favorite kinds of articles!

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59 minutes ago, KJP said:

 

It was as much of a surprise for me too. While I was waiting for Epstein to return my call, I was going around to some of my usual sources who are pretty plugged in, and they all thought it was a gag being played on me. So when Epstein returned my call, I asked him straight up -- "Is this a real project?" He said yes, and then proceeded to say some of the stuff I put in the article.

 

These are my favorite kinds of articles!

Funny but I was just on the Dream Hotel site the other day looking for anything, even read their quarterly statement 😞 . But what about their original proposal for the Left Bank bldg. From your recent article you said a hotel component may still be involved there. They have multiple flags under the DHG, I wonder if it could be one of those?

 

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It might because a certain type of boutique flag fills a void in the NEO lodging market. And that's what was proposed for part of the high-rise at 1250 Riverbed.

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18 minutes ago, KJP said:

It might because a certain type of boutique flag fills a void in the NEO lodging market. And that's what was proposed for part of the high-rise at 1250 Riverbed.

Whatever happened to the hotel proposal in the ATT building by Progressive Field?

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6 hours ago, LlamaLawyer said:

Now THAT is a gorgeous rendering. Awesome scoop @KJP. This has got to be hands down the most exciting proposal east of the CBD.

 

5 hours ago, KJP said:

 

Just wait....

 

Great scoop and story, KJP!  Your "just wait...." Are you suggesting there's ANOTHER project coming east of the CBD?

 

 

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It's interesting that Dream Hotel Group is affiliating with so many Masonic Temples around the country, turning them into entertainment venues and making them actual destinations. 

 

This will certainly drive additional development in the area.

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Love, love, love this! KJP, I know it's a crapshoot at this point, but roughly what chance do you give this one to be completed?

Sort of reminds me of a cross between one of the nuCLEus iterations and The Standard hotel in NYC by the High Line.

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I don't give odds. It's like predicting what the weather will be like on this date next year.

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1 hour ago, Paul in Cleveland said:

Love, love, love this! KJP, I know it's a crapshoot at this point, but roughly what chance do you give this one to be completed?

Sort of reminds me of a cross between one of the nuCLEus iterations and The Standard hotel in NYC by the High Line.

 

At the moment, it seems as if a new hotel is the last thing Cleveland needs; but this one is smallish and really has a semi-captive clientele among visiting performers, out-of-town performance attendees, and CSU visitors. I'd say the developers have done their market research, identified an unmet need, and are planning to fill it. If the shows are hits, the hotel probably will be, too. The parking, at event pricing, will no doubt be profitable as well.  I'm not offering odds, but the idea seems to me to be better founded than some others floating around.

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There's also some spin-off projects in the immediate area, to which Epstein had eluded. This hotel may not be lonely for long.

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Just noticed new construction fencing up around the lot at the corner of 55th and Euclid. Any idea what’s going on there @KJP?

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9 minutes ago, marty15 said:

Just noticed new construction fencing up around the lot at the corner of 55th and Euclid. Any idea what’s going on there @KJP?

 

Site clean-up and remediation

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3 minutes ago, marty15 said:

In preparation of something big, right? 😉

 

The developer, Berusch, says he doesn't have a plan yet. I'm not sure if I believe him because his partner, Jeff Epstein at MidTown Cleveland Inc., said the CDC's overall vision is to restore the lost density and mixed use from decades past. The Port Authority is also a partner in this effort to clean up and consolidate/assemble properties into larger development sites. So now that development site measures 2.6 acres and, if it remains in port authority hands, won't pay property taxes on the land -- saving the developer a chunk of money. Warner-Swasey combined with whatever is ultimately planned for the port authority property, not to mention the former RTA/now Cleveland Foundation land on the other side of the railroad, could create a significant focal point of development activity.

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35 minutes ago, KJP said:

 

The developer, Berusch, says he doesn't have a plan yet. I'm not sure if I believe him because his partner, Jeff Epstein at MidTown Cleveland Inc., said the CDC's overall vision is to restore the lost density and mixed use from decades past. The Port Authority is also a partner in this effort to clean up and consolidate/assemble properties into larger development sites.

 

1940's density I hope! 😉

55thEuclid1941.jpg

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I still remember when all those buildings east of the tracks still stood. I was only 20 and broke, so there was nothing I could do but look at em and dream about what they could’ve been. But as of year 2000, most were still standing. Sad.

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