The 925 Building

Last updated
The Centennial
Union Commerce.jpg
The former Huntington Bank Building
The 925 Building
Former namesUnion Commerce Bank Building
General information
TypeOffice/Hotel/Retail/Residential (Mixed Use)
Location925 Euclid Avenue Cleveland, Ohio 44115 United States
Construction started1921
Completed1924
Cost12.234 Million
Height
Roof88.09 m (289 ft)
Technical details
Floor count21
Floor areaover 1,000,000 sq. ft.
Design and construction
Architect(s) Graham, Anderson, Probst & White

The Centennial, [1] formerly The 925 Building, [2] and Huntington Building, originally the Union Trust Building, is a high-rise office building on Euclid Avenue in the Nine-Twelve District of downtown Cleveland, Ohio, USA. When the building was completed in 1924, it was the second largest building in the world in terms of floor space, with more than 30 acres (12 hectares) of floor space. [3] It also included the world's largest bank lobby, which today remains among the largest in the world. The lobby features enormous marble Corinthian columns, barrel vaulted ceilings, and colorful murals by Jules Guerin.

Contents

The Huntington Building's facade facing East 9th Street Huntington Building.jpg
The Huntington Building's facade facing East 9th Street

Design and history

The 289 foot (88 meters) [4] tall building was designed by the firm of Graham, Anderson, Probst & White, who were also responsible for the design of the Terminal Tower. It was renovated in 1975 under the direction of Cleveland architect Peter van Dijk, and again by Hines Properties in 1991. The building features a rooftop ticket lobby and waiting room designed for dirigible flights to New York and Chicago; the roof was never utilized because of the high winds from Lake Erie. [5] In June 2010 it was purchased for $18.5 million by Optima International, [6] a Miami-based real estate investment firm led by Chaim Schochet and 2/3rd owned by the Privat Group, one of Ukraine's largest business and banking groups. [7] Originally contemplating closing the building due to a very high vacancy rate, [8] Chaim Chochet and Chip Marous proposed in September 2014 a $231 million renovation of the building into a mixed-used facility combining offices, apartments, condominiums and a boutique hotel. [9] In June 2015, Terry Coyne, a commercial real estate broker from Newmark, negotiated the sale to Hudson Holdings LLC for $22 million. [10] Hudson began a $280 million renovation of the building which will feature 550 apartments, a 300-room, high-end hotel, 200,000 square feet of retail, a banquet hall, conference space, and a lobby open to the public. [5]

On May 4, 2018, Hudson sold the property to Cleveland-based The Millennia Companies. [11] Millennia announced in November 2018 that project would henceforth be known as The Centennial, [1] and that the company would spend roughly $270 million renovating the structure. [12] By May 2021 plans for The Centennial changed from luxury to affordable housing. [13]

See also

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References

  1. 1 2 "Millennia Cos. has a name for its $270 million renovation project in downtown Cleveland: The Centennial". Crain's Cleveland Business. November 27, 2018. Archived from the original on December 7, 2022.
  2. ↑ Dixon, Teresa (June 16, 2015). "New owner of Huntington Building plans to convert it to apartments, restaurants, clubs (photos)". cleveland.com. Archived from the original on December 8, 2022.
  3. ↑ Johannesen, Eric. Cleveland Architecture 1876-1976, Western Reserve Historical Society, 1979. ISBN   978-0-911704-21-1
  4. ↑ "Huntington Bank Building, Cleveland". 2005-01-20. Archived from the original on January 20, 2005. Retrieved 2023-04-29.
  5. 1 2 Wolff, Carlo (August 3, 2015). "Florida developer banking on Huntington Building rebirth". Cleveland Jewish News. Archived from the original on July 30, 2020. Retrieved August 3, 2015.
  6. ↑ Jarboe, Michelle (June 23, 2010). "Miami investor buys Cleveland's Huntington Building for bargain price". The Plain Dealer . Cleveland, Ohio. Archived from the original on August 30, 2022. Retrieved June 23, 2010.
  7. ↑ Jarboe, Michelle (2012-02-05). "The most important guy you've never heard of: Chaim Schochet, 25, builds downtown Cleveland empire". Cleveland Plain Dealer. Archived from the original on March 22, 2022. Retrieved February 4, 2012.
  8. ↑ "Owner may close former Huntington Building if county locates HQ elsewhere". Crain's Cleveland Business. 2013-01-21. Archived from the original on March 26, 2022. Retrieved January 21, 2013.
  9. ↑ Bullard, Stan (2014-09-08). "Former Huntington Building would be revamped as mixed-use development in $231 million project". Crain's Cleveland Business. Archived from the original on November 7, 2017. Retrieved September 9, 2014.
  10. ↑ Bullard, Stan (2015-06-15). "Former Huntington Building to undergo $280 million transformation into mixed-use property". Crain's Cleveland Business. Archived from the original on June 13, 2021. Retrieved June 16, 2015.
  11. ↑ Jarboe, Michelle (May 4, 2018). "Millennia buys downtown Cleveland's near-vacant 925 Building in $40 million deal". The Plain Dealer. Cleveland, Ohio. Retrieved May 5, 2018.
  12. ↑ Bullard, Stan (November 27, 2018). "Millennia Cos. has a name for its $270 million renovation project in downtown Cleveland: The Centennial". Crain's Cleveland Business. Archived from the original on December 7, 2022. Retrieved November 29, 2018.
  13. ↑ Picciano, Jen (May 6, 2021). "The Centennial project promises affordable housing to help recruit workers back to downtown Cleveland". cleveland19.com. Archived from the original on October 17, 2022. Retrieved 2022-07-21.

41°30′1.91″N81°41′11.84″W / 41.5005306°N 81.6866222°W / 41.5005306; -81.6866222

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